RyanPal
Long

Elliot Wave on Daily. Moon time?

BITFINEX:BTCUSD   Bitcoin / Dollar
Too early to call it the end of wave C in this time frame but it seems like we are there. What should follow is consolidation followed by the next impulse wave (1-2-3-4-5) to new ATHs in the coming time.

Note: Quite a beginner at trading and this is my first published idea ever, would appreciate constructive criticism.
Kommentar: This idea is old and stupid :/
That's quite an idea. You may be right. The thing about EW is its so easy to turn waves into an "impulse wave" incorreclty... or to call it a "corrective wave" when its not... That's the difficult involved. We also have to remember that EW isn't a 100% science.. I.E ... the wave count isn't always correct. Modern CPU's and very sharp software have proven that with relative certainty. Still a high % of the time it is accurate, and thus we should use it when we can - especially if we can do so with high certainty.
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RyanPal nukenowakowski
@nukenowakowski, Well yeah, I have been observing trends and analyzing EW theory more lately and it turns out that it is better to justify action of the past than to predict price action using that.
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