LinkETH: Triangle... or Complex Corrective Structure EW

20 feb 2018

The "e" is usually a smaller correction than 50% (based on the "c-d" swing). The next impulse (after "e"), it's usually part of a ABCD pattern (AB in place on the "c-d" swing, where, AB = CD and CD = 127.4%-132.8% or 161.8% of AB). But the right level will come from adding a Fibonacci Retracement, on the "d-e" (counter trend fib) in order to find the Fibonacci Confluence Area (with the ABCD measurements and fibs). That fib cluster will be our next correction, above the upper band (in case you miss you Buy at the next Resistance BO).

In case the "e" would be lower than that (i.e. a healthy retracement of 50%, ideal 61.8%) and if it will break the lower band of the Triangle, let's say, we should see in place a Complex Corrective Structure EW scenario (bigger WXY counting). I'd like to have the option to upload in this post the chart with this opposite setup, as well - feedback for the TradingView team.

I'll keep a close look at this crypto and I'll be ready to design a new chart (WXY), if the actual setup will be invalidated (Triangle Pattern).

Hope this helps, Jo.

Ice.