I´m new to elliot waves thanks to Haejin but jonnycrypto´s chart regarding to wave 1, subwaves 1 overlaps with 4. Can anyone clear my doubt?
RE: Bitcoin (BTC) Evening Update: Wave 3 Could be Complete
You are viewing a single comment's thread from:
Bitcoin (BTC) Evening Update: Wave 3 Could be Complete
@cktaco not sure if I understand your question?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The question is: Can wave 1 counting be validated if subwave 1 and 4 overlaps? it´s against elliot wave rules!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If you are talking about the very first (1) - (2) in green, you are correct. These should have been placed lower. By moving these down, the rest of the count remains valid as is.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Right, good question. So my understanding is that the rule you stated is correct. However if you take a closer look at the chart you'll notice that the wicks are primarily causing the issue of 1 & 4 over lapping. Also this chart is from an exchange where trader can enter at leveraged positions so this chart is from a margin trading trading account. My understanding is those markets behave a little different.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Is that looking better, I tightened it up.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit