ETH/EUR elliott waves Descending chan.
Updated
on the 6 o'clock chart, ETH finished waves 12345ABC, supposedly going to make one more movement of elliot waves 12345, with elliot not being able to predict very accurately the time that this movement will take, but if it happens it could go more or less to level of the red dashed line, the analysis will no longer be valid if the price decides at any time to pass the white dashed line above the descending channel
Note
in the graph presented a pattern from the past was used, which as you know the patterns do not have to be repeated in the past, the elliott wave is the best tool to predict movements, but it does not predict values or the chronological space of the waves, there is an error in this my chart not only porke was based on a past pattern but as the elliott wave is wrong, i used the elliot plot based on the past but it is wrong, i will correct and do a correct analysis soon, the errors are: wave 3 has to be bigger than the other waves and wave 4 cannot enter the range of wave 1, in the chart the wave is above wave 1 and wave 5 is the biggest, instead of being 3, as I said I will make a chart correct by elliott waves coming soon, to err is human and recognizing mistakes makes us growNote
summarizing the pattern of the past may not be repeated but it may be identical the mistake I mentioned was the place where I chose to put the points of the waves of the elliott waveNote
CORRECTION : HERE'S THE CORRECT I SAID I WOULD MAKE ACKNOWLEDGING ERRORS IN THE FORECAST - where I marked wave 3 is wave 1, and where I marked wave 5 it could be wave 3 which is the biggest wave, taking into account that the wave 4 with a price correction never greater than wave 1, wave 5 that is yet to come may make a price correction below the presented channel, do your next analysis, btc is also on ABC in the weekly with the wave 1 starting in December 2018, analyze yourself and manage your risk
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