I don't like to show Elliott Wave analysis on tradingview, as the tools are not great, but I have data anomolies in Motive Wave right now, which make this triangle not clear. Currently I see a very clear triangle on the Ether and Bitcoin charta. I see this triangle as iv of the circle three labeled. We should see Ether come down into the $140 area as I've been calling. Ideally Bitcoin comes into the $4600-4800 zone, per previous charts. However, while I'm scalping this triangle for the short trade, unless the circle 4 correction is very clear, I will not short. If my count is right we should get a violent bid out of that zone, so I'm going to be cautious as it could take my head off. Further, there is always a chance I'm off by degree. Chances of that run high on a chart of such small timeframe. So, I give my trading some slack and I do not try to capture all of every range. 🔥
Good luck everyone. Let's see if this ends our bear market.
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I’m thinking of buying Ethereum now. Do you think it’s a good idea?
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I use tradingview every day and its great in my opinion. But yeah everyone has different taste. Can you tell me what is better in Motive Wave than Tradingview for you, please?
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If you're an elliott wave person it sucks. The fibs are linear even if the chart is log. And, the elliott wave labels do not zoom or snap when you change timeframes. IF you are not a elliottician, and you don't care about log fibs, it's fine. I use it every day but not for elliott wave.
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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.
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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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I was testing it but why are the prices not the same as the price axis?
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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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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.
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Here it is in Motive, which I know is accurate as I double checked with a spreadsheet before buying it.
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Cool thanks. I am not elliott wave person, so thats it :)
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So should become one it's worth it.
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🙌
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I would like because its looks powerfull. I tried but i was never sure i found right waves. So now i am using Ichimoku Cloud. Im day trading and Ichimoku is good for it, but Elliott could be better, but im not too good to learn it to use it properly.
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Well, the triangle died, but we're still under resistance.
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Target area is reached and the daily and weekly RSI has already reached deepwater levels throughout cryptoland but the brutality of this (last) sell off looks like it's not over yet.
So what matters more the fib resistance or the structure? Well the sentiment indicator has still some space left to scare the hell out of the hodl community.
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I've got us extending now to $110-$100. A little below ideal long term support.
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Ah OK
Hope you've noticed my last post about the fib tool some days ago. Think it shows the right levels or?
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On your blog. I don't see it here.
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Seems like Steemit outsources chats at a certain length to avoid the page from being flooded with replies. It's hidden and can only be seen by clicking on the green link under one of your last replies.
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Hey wildtrader, its been too long since your chart of the day. How about taking a look at quarkchain (qkc). Thanks!
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