RE: Chart of the Day: Ethereum coming in for a landing?

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Chart of the Day: Ethereum coming in for a landing?

in ethereum •  6 years ago  (edited)

I recently found out that if you use Fib Channel instead of Fib Retracement at the bottom of the toolbox it will at least give the correct percentage levels in log.

ethereum
6 years ago by

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      ·  6 years ago 

    I'll check that out. Motive isn't a great day trading tool. Lags too much, but that's great if I can at least get the right fibs. The labeling issue will keep me off it though. Motive labelling is amazing including 'auto degree'.

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        ·  6 years ago 

      I was testing it but why are the prices not the same as the price axis? Screen Shot 2018-11-18 at 11.38.04 AM.png

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          ·  6 years ago (edited)

        Yes that's weird and poor that prices in the tool are still linear. I switched off the prices in the tool an always look at the price axis.

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            ·  6 years ago (edited)

          So, how do you do a three point projection in log? When I measure the leading diagonal that topped in 2016, and move the tool to the 1-2, the 2.0 is in the wrong spot. It appears to be linear. BTC should have topped just above the 2.0 but it's at the 4.236. Appears to be linear to me. Screen Shot 2018-11-18 at 11.47.06 AM.png

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              ·  6 years ago 

            Here it is in Motive, which I know is accurate as I double checked with a spreadsheet before buying it.

            Screen Shot 2018-11-18 at 11.50.04 AM.png

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                ·  6 years ago 

              It comes in a little closer than the normal fib tool, but the extensions are still not right.

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                  ·  6 years ago (edited)

                I tried to reproduce what you've done in MotiveWave and the projections are the same. I think you didn't draw the 100% level at the same place or price and so you got a different result. BTW I used Bitfinex data here.

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                    ·  6 years ago 

                  Hmmm...I'm either missing something, or it isn't replicating what I'm doing. What's critcal is measuring the 2015 low (0% there) and put the 100% on the Jun 2016 high, then move 0% to the August 2016 low. Basically I'm 'fibbing' the 1-2 setup then projecting. When I do that I do not get this result. I can't tell where your 0 is or what you are measuring.

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