@SCAMCOINS CO-AUTHOR
PREFACE: This triangle refers to the previous move down from $475~. It implies a final move down. The approximate length would be $125 (ie $275 target).
Chart says most of it, but here's the rest:
(1) Note the descending volume pattern and how its being broken.
(2) We aren't 1000% sure that this fits in the greater context, but a cursory check suggests this is a certifiable.
(3) Every wave has been fib time-checked: the time-length reduction percentage of each wave matches the corresponding retracement percentage.
(4) The C wave seems messed up. According to our bible, usually one wave within the triangle is complex and it's usually the C wave (however, it does not usually coincide with thanksgiving weekend). Regardless, the C wave's time-length is spot on: it retraces between 70.7% and 78.6% and it's time-length falls within the corresponding projections, 127% and 141%.
(5) The final E wave has finished (or nearly finished) its upward movement. That means down is next--possibly immediately so.
(6) The triangle could turn out to be 9-parted and we'd have another week of nothing.
UPDATE 12/7: The absolute lack of volume yesterday is a strong confirmation signal. Normally we see a volume increase during the D wave, then a false break on the E wave without much volume. Then a correct break with fresh volume.
UPDATE 12/8: The triangle has broken as expected. The original target is a loose estimation. I will update the post with a more precise ending target when more information is available.
UPDATE 12/9: This chart has the targets--
-- I dislike the author strongly, so PLEASE insult him as you use his graciously published info
PREFACE: This triangle refers to the previous move down from $475~. It implies a final move down. The approximate length would be $125 (ie $275 target).
Chart says most of it, but here's the rest:
(1) Note the descending volume pattern and how its being broken.
(2) We aren't 1000% sure that this fits in the greater context, but a cursory check suggests this is a certifiable.
(3) Every wave has been fib time-checked: the time-length reduction percentage of each wave matches the corresponding retracement percentage.
(4) The C wave seems messed up. According to our bible, usually one wave within the triangle is complex and it's usually the C wave (however, it does not usually coincide with thanksgiving weekend). Regardless, the C wave's time-length is spot on: it retraces between 70.7% and 78.6% and it's time-length falls within the corresponding projections, 127% and 141%.
(5) The final E wave has finished (or nearly finished) its upward movement. That means down is next--possibly immediately so.
(6) The triangle could turn out to be 9-parted and we'd have another week of nothing.
UPDATE 12/7: The absolute lack of volume yesterday is a strong confirmation signal. Normally we see a volume increase during the D wave, then a false break on the E wave without much volume. Then a correct break with fresh volume.
UPDATE 12/8: The triangle has broken as expected. The original target is a loose estimation. I will update the post with a more precise ending target when more information is available.
UPDATE 12/9: This chart has the targets--
