Post
Topic
Board Speculation
Re: 2018 Cryptocurrency Crash (Elliott Wave)
by
shunyata
on 19/02/2018, 21:03:42 UTC
The current 9th weekend has already started with a 10% decline. Statistically, this would equate to a 77% chance of a bear market underway.

Calculated how?

I can't say for sure we're out of the bear market but the current trend is clearly up. Trade the trend till you are wrong  then reassess. Shorting an uptrend just because an a,b,c 1,2,3 progression says so is just too risky for me. All the Elliot Wave people I've seen have been calling for us to go back to 5k since the start of the uptrend and getting wrecked the whole time. From what I've seen from you and others it appears to me that Elliot Wave is most accurate on weekly charts or longer and not as accurate on daily charts or shorter. Either that or it's not being applied correctly.

There's math traders, there's TA traders, there's fundamental traders, there's trend traders, there's gut traders. None of them are right all the time but if you can combine them properly hopefully you can be right more than 50% of the time and that's all you can really hope for. Risk management is where the profit is made in trading.

Trading masterluc's chart https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/ has still proven correct.