Quote from: CoinBurner on August 31, 2014, 01:13:59 PM

Many thanks for the excellent analysis! This has become one of my favorite TA threads, and probably second best EW thread on btctalk, only after masterluc's one Cheesy

If I understand correctly, given the recent break of 487 we should now have entered the V wave of the purple count. Noob (and obvious Grin

) question here: what could be a reasonable downside target? Following what I understand are some tyipical EW rules the 5th wave can be 0.382 or 0.618 times the whole distance from the start of wave I (683) to the end of wave III (441), giving a target of 410 or 355 respectively... or even less if we have extensions etc!! Shocked

Yes, it seems that my original wave-E was the correct one. I changed it because of the scale of the waves preceding it. The triangle is indeed complete and we are heading down in the purple count. As for targets and wave numbers, I will have to work up an update but you math skills sound about right for a target if it is the 5th. I did post an alternate count a week or two ago outlining a count where the triangle was 4 of III. If that is the case, then the initial target will be higher since it's for a lower degree wave. I have a few things to do this morning so I will just leave this for now

If it's the V of (C):

If it's the 5 of III: