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Contractingtriangle

LTC in contracting trianglePrimary idea is that LTC is currently in a D wave of a contracting triangle. A:C = 1:0.618 (perfect reaction) If this is to be a "textbook" example of a contracting triangle, the following should happen: - D wave should complete at 0.618 of B wave (B:D = 1:0.618... +10% from now, 155-156$ area) - There is some market structure that could provide resistance at this level - E wave should terminate somewhere in the internal range of the C wave (130-134$ area) - Also some market structure (not as strong) that could provide resistance. - After completing the triangle, make a new impulse to head towards next level of resistance (Feb '18, check daily or weekly time frame) If you like my ideas please hit like and follow. :) This is not financial advice.
by lkunej
BTC Wave E of Contracting Triangle Appears to be Underway Background: Triangles are sideways price action and a contracting triangle can be described as the top line (B to D) is declining and the bottom line (A to C to E) is rising. The corrective structure is labeled as ABCDE. Commentary: Yesterday, we posted that we appeared to be in Wave E of a contracting triangle on the minor degree, which would be invalidated with a close greater than 37,449. Today, we update the chart and consider that the daily candle made today may be the start of Wave E and not the day before. Although our previous invalidation point was not taken out, our new invalidation price would be a close greater than 38,874.71 Strategy Moving Forward: We will look for completion of Wave E and consider the next wave may be a larger move. We will also keep in mind the apex of the triangle for future price movement and look for signals to enter a test of the apex. Wave / Pattern Analysis: We are looking at the recent high of 42,000 USD as the completion of wave 5 on the minor degree and possibly wave 3 of the intermediate degree. We appear to be Wave E in a contracting triangle on the minor degree. Weekly Momentum: Weekly signal is still bearish Daily Momentum: Daily Momentum is still bearish Trade Signal: No daily signal was generated today. Summary: While we look for BTC to consolidate and go lower in the short term, we are not yet in a position to enter a trade.
BITSTAMP:BTCUSD
by tricor2000
2
A-B-C or 1 to 5 sub-wave of Ending Diagonal for 5 Wave.Very Closer Look of Daily chart. Looking from Left to Right, 1 to 5 motive move and correction move has completed. And, again new cycle has been started which has completed motive cycle ultimately. A-B-C or 1 to 5 sub-wave of Ending Diagonal for 5 Wave. If you don't know about Elliott Wave, then comment in section. I will write here basic. ----------------------------------Picture of GBPUSD : used Daily chart:-------------------------------- ----------------------------------Bigger Picture of GBPUSD : used MONTHLY chart:--------------------------------
Short
by UnknownUnicorn12270065
Basic Attention Token BATBTC - Long Term strategyHello Traders! I have planned a long term strategy for BAT. We have a contracting triangle, and we might be completing the E-wave (according to Elliot wave triangles), and is exactly at point E, where I will buy to make maximum profits. The area to buy is indicated with the green rectangle . Another safer strategy, is to buy exactly at the break out of the contracting triangle. If everything goes as planned, we might be looking at 200% profits. I think BAT has a lot of use cases, and is a solid project. Please let me know what you think, and as always this is not financial advise do your on research.
Long
by sirfreakthemighty
Basic Attention Token BATBTC - Long Term strategyHello Traders! I have planned a long term strategy for BAT. We have a contracting triangle, and we might be completing the E-wave (according to Elliot wave triangles), and is exactly at point E , where I will buy to make maximum profits. The area to buy is indicated with the green rectangle. Another safer strategy, is to buy exactly at the break out of the contracting triangle. If everything goes as planned, we might be looking at 200% profits. I think BAT has a lot of use cases, and is a solid project. Please let me know what you think, and as always this is not financial advise do your on research.
Long
by sirfreakthemighty
Siacoin to the moon?Hi there, Note that i'm not a professional, i'm here to learn and therefore feedback is much appreciated. I've noticed two contracting triangles in the SCUSD chart. This in combination with the fact that the SCBTC chart is showing a massive cup&handle pattern makes me believe Siacoin is going to skyrocket soon. Now i have to say i just started reading up on Elliot waves so correct me if i'm doing anything wrong. Also i would like to know how i could place the last 5 impulse waves on the correct height when a symmetrical triangle like this occurs. Is there anybody who can give me feedback on these questions? Thanks in advance.
BITTREX:SCUSD
by Bittimmer
2