sonerster

sonerster Updated 

This is the weekly chart. It simply shows where we are. In my opinion correction stage will provide many opportunities.

sonerster Updated 

Use tight stop loss and consider 5th wave will be in progress soon.

sonerster Updated 

Both of them are logical in the given chart patterns. The legth of the diamond * %60 (~ 2000 sats ) move can be expected to either way. This post is for educational purposes.

sonerster Updated 

Fun is working on the 5th wave.

sonerster

POEBTC is preparing itself for the 3rd wave.

sonerster

Finally, following the H&S occurred at around 5.60s TRY reached its target around lower 5.30s (as I figured out in my previous post). There is no reason seemingly to stop this downwards trend except the phenomenal .786 Fibo level (which appears around 5.05). Theoretically this should be followed by a retrace in form of diamond bottom, otherwise we can consider a...

sonerster Updated 

The upcoming price movement in USDTRY chart is likely to reveal whether the correction ended. Until 0.786 is broken downwards this cannot be invalidated. If this is the case, fibo 1.618 and 2.618 are the potential targets for the Wave 3. This post is for educational purposes.

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WXY formation is in progress.

sonerster Updated 

I explained and interpreted the wave ratios & relationships on the chart. Interestingly, most of the (fibonacci) relationships seem perfectly technical. Note that these sharp Fibo ratios and relationships are drawn only from the 1W price chart which provides more clear perspective for USDTRY in my opinion and my own experience. Legal disclaimer: This post does not...

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Ascending wedge is a bearish reversal pattern. The weakness of TRY has been linked to the political conflicts as well as the macroeconomic vulnerabilities. Based on the fundamentals of TRYUSD chart, we can expect the Turkish central bank to avoid surprising or radical interest rate hikes in the short term, instead the Turkish government to reduce tensions with the...

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Po.et (as almost all crypto) is on the corner ot diamond bottom breakout. This can be on the either way. If this is the case, I would like to recommend you using a tight stop-loss strategy. The calculations below sugget theoretical use of price targets in the case of diamond bottom breakout for the upward or downward scenarios. Highest Peak of Diamond Pattern:...

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The Diamond pattern is a rare, but reliable chart pattern. Diamond chart reversals rarely happen at market bottoms, it most often occurs at major tops and with high-volume. Bulkowski's (2005) research states that the diamond bottom breaks upward 69% of the time. Bulkowski emphasizes that a diamond bottom with a breakout move downward is ranked as being one the...

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Our previous chart almost hit the target (4.62 to 5.70s). Now (hopefully) it's time for a retracement towards the golden pocket.

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TRY bullish flag formation

sonerster Updated 

It is not yet clear whether Po.et will make one more downward move, due to the 5th of C wave is not easy to be distinguished. I hold it but indeed watch out carefully before a harsh impulsive last wave.

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Self explanatory chart.

sonerster Updated 

This is the jailbreak scenario for Po.et's finalizing traingle. Since this is the beginning of a new cycle of Elliot waves, it is quite difficult to predict the path it likely follows. However the common symetries (they are also not perfectly shaped) and channels in the graph gives us some perspective. On the bearish side, the bottom of the triangle can be...

sonerster Updated 

I just wonder. Let's see the answer soon.