Quote from: CoinBurner on October 07, 2014, 07:34:22 AM

Thanks a lot for sharing! Do you also use other tools like oscillators etc in your analysis?
Sure enough, that big mofo wall made the technical picture a little bit confused when it was there... but I agree on the bigger scale it doesn't matter
could we also be tracing out a bigger b wave right now before a final push higher? After such a massive move down I just can't believe we cannot even go above 350...!

Hi there,

By that count the final push higher would be a C wave. terminal. imo you have correctly counted wave iii, and because we have now completed and abc (your 'a' wave) in the vacinity of the iv wave of one lower fractal degree, I believe we will be heading to 260 soon to complete wave v. In fact, Im fairly sure it has just begun.

EDIT. to answer your queston better, I dont think that we will have a larger B wave trough 350 because that would pass the wave (iv) of wave iii and likely pass through wave i overlapping.

almost all indicators (macd, rsi etc) use the price action you can see with your own eyes in a formula. One only needs to see divergance patterns in the market for a few years before one's own eye becomes more accurate than any time-scale bound indicator is. The only reasons for using an RSI or macd imo would be for self discipline, consistency or for illustration purposes. I sometimes use rsi and macd, but I dont rely on them.

It will break 350 like a hot knife through butter not too long after the final move Wink

like I said up there, with all the best counts I can see, 450 is really the minimum retracement for the short term.