ZECBTC, after dropping to lowest levels possible to mach the levels at previous wave 2 low, made five wave impulsive advance for a new wave 1 of 3rd and then corrected the same as for wave 2 of 3rd . What comes next is set of wave 1s and 2s to get the wave 3 of 3rd on it's way. While still at lows of 0.037 , recommend entering the trade which has very low risk and expecting also short in time, 3-5 weeks. As for targets you can exit partially at the levels shown on the chart till the last final minimum long term target at 1.272% . Considering the bullish price action in that last 2 weeks, previous analysis with bearish view no longer is valid !
TA question, if coin didn't shot from predicted point but make "desert" (more or less flat price - accumulation ? ) we should extend/modify price/fib prediction ? Thank you for share :) Still not sure to setup final TP at fib 1.618 or like you suggest 1.272 - that looks like more safe scenario ? Why 1.272 not 1.618 ? You predict after that point nice re-buy point? Greetings from Teamwork (great group and glad to be there )
edwardcryptoamos
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@krakowiakwojciech, I'm not sure if I understand your question "desert" accurately, but you try to find market bottom/ low for entry, using fib and confirmation with various indicators which I usually use STOCHRSI and Squeeze ( same principle like MACD ) , looking for bullish divergence on higher time frame, so you have higher probability of more accurate prediction. If price goes lower then you have to do the whole TA all over again! indicating you have missed some details!
The is no flat price and / or accumulation. Markets making EWs at all times starting from ticker to 1 minute chart to monthly. The fact that one can not identify such waves on lower time frames, does not mean they're not there!!
Regarding the 1.272 targets, It's just safer target, where I usually exit part of the position. After target reached, to rebuy at the same market, you need all new TA and wave count! Target TA chart and Rebuy are totally different !
Thanks for your comment and very good question !
krakowiakwojciech
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@PAHMAD1339, so when prediction is broken, then something was missed - great to know. I thought that just extend current state caused by BTC movement or other things, not just miss-calculation. Thanks.
About fibs - great. Do you have any favorite % of sold coin at fib 1.2 ? I usually sell 1TP 50, 2TP 30 and TP3 20 % of my coin
edwardcryptoamos
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@krakowiakwojciech, Exit strategy for each trader should be achieved by trader himself,
It is always good idea to get your initial investment and/or 75% of such out on first targets, and run the rest of trade with profits to generate more profits. This action suppose to eliminate your emotions/ panics, or minimise reactions psychological since you have your capital out of trade, at least theory says so, but human's greed is much stronger! LOL
krakowiakwojciech
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@PAHMAD1339, Thank You very much - I was wonder another person point of view and agree that everybody suppose decide by themselves...but that doesn't mean we should not listen what other people think/know ;) Don't worry, I'm not green cucumber so if...i gonna ask, then like confirmation or second opinion, not alpha and omega "yes my master". Regards from Ireland
StoeanStefanCosmin
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If this is elliot waves with 1,2,3,4,5 you have a wrong interpretation because the wave 4 must be over wave 1 , regarding the Jun interpretation . when the 5 wave will end you will have 3 new waves in the opposite trend .
edwardcryptoamos
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@candyd, wave 4 not allowed to do daily candle close in the territory of wave 1, exception to the rule! Since first set of 5 waves are done and the retracement almost at max, then we have wave I and the complex correction wave II, on its way for wave III !
Thanks for your comment !
trade633
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Thanks for the graphics Ed, is very helpful.
edwardcryptoamos
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@trade633, You welcome, Make sure to enter the trade both on this one and DashBtc, wait for retracement on the H1 time frame and hold for few weeks.
trade633
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@PAHMAD1339,Thank you very much, I will search for the entrance to the Dash in the area of 370-350, in Zcash I went in 0,038.