Just to clarify, the previous Wave count (blue) I showed yesterday is within a larger Wave count (in Red)
So what we see is a wave count within a larger wave count - both are in Wave 3 (blue is a child wave count, and red is a parent wave count).
Again, I must clarify 2 things:
1. The Wave 3, 4 and 5 are not my price forecasts so don't take these price points literally, it's just a Road Map 2. Wave 3 has NOT BEEN CONFIRMED yet so therefore we must assume it has not ended until the Market declares to us otherwise
In other words, there is nothing to stop Wave 3 going higher now.
Think of it like this... a minute count is within an hour count; an hour count is within a day count; a day count is within a week count etc....it's all Waves within Waves
I hope that clarifies things
Sean Vengan Professional Cryptocurrency Trader and Trading Educator
Komen
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Hi folks,
I just want to clarify, as a few people have asked if these are my price targets.
These are NOT PRICE PROJECTIONS (im putting these in capitals so you all know these aren't targets).
As I wrote in my analysis it's just a ROAD MAP. in terms of broad direction of the market
thank you to sharing this information I am finding it valuable. I found one point to be cleared, maybe I am not thinking right. Concerning the waves: even if the blue (3) is in development would the end of red (3) be at the end of blue (5)?
All the rules you talked about is a must. Especially keeping them which is difficult for me because it is a psycho thing. Could you recommend where to look to find answers why people (including me) sabotage their own rules and how to overcome on them? Thank you.
UnknownUnicorn1063189
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@fractal72, HI Fractal72 that a good point you bring up as actually I should redraw this as it's misleading. The end of Red Wave 3 will actually be Blue Wave 5.
The above diagram I drew to illustrate that we are in a wave 3 on both timescales.
fractal72
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@SEAN_VENGAN, Hi Sean, thank you your clarification.
UnknownUnicorn1063189
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@fractal72, Yes fractal72 you are absolutely correct. I misdrew the red as I added it later. I mentioned this in a previous comment.
Indeed self-sabotage is what screws up most traders - I teach how to deal with all of this (refer my profile link as I am not permitted to post links)
Exactly, my friend as I'm trying to shout out to everyone - we haven't had a confirmed Wave 3 yet this can keep going.
I think some traders are thinking i'm saying wave 3 has ended - well im not, there nothing to say it has ended - we are still in Wave 3.
So yes, a continuation of Wave 3, which I'm actually expecting...
MarRob
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Hi Sean , super beginner here so try not to laugh at my observations . If I look at the 7 days chart of bitcoin I believe it is what is called a head and shoulders . Is it a valid patern if it stretches on such a long period of time ? Also , I'm watching bitcoin because i have a position opened on Iota , which in the past month has reflected bitcoins every movement . I'm desperately waiting for a bitcoin pullback because that's what I need on Iota to make profit on my positions . Hoping that iota will pull back as soon as bitcoin does
UnknownUnicorn1063189
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@MarRob, Hi MarRob, I sincerely mean it when I say I will never laugh or put down any newbie question - we all start as beginners at something sometime. So no question is stupid.
Absolutely, the bigger the time frame the more significant the pattern is (eg Head &Shoulders) - but i don't see a H&S on a weekly chart - let me know if i'm missing anything.
I haven't taken the time to study any correlation between IOTA and Bitcoin so you know more than me, so I cannot advise you on this.
If you say they are closely linked then yes I am waiting for a pullback to go back in Long BUT we still don't know if its ready for a pullback it could well want to go further higher so premature to talk of a pullback yet...
thank you to sharing this information I am finding it valuable. I found one point to be cleared, maybe I am not thinking right. Concerning the waves: even if the blue (3) is in development would the end of red (3) be at the end of blue (5)?
All the rules you talked about is a must. Especially keeping them which is difficult for me because it is a psycho thing. Could you recommend where to look to find answers why people (including me) sabotage their own rules and how to overcome on them? Thank you.