Ahead of the FOMC, the path to prediction with the Elliott wave
There are two high-probability perspectives seen in the current interval.
Route 1, Route 2
In both cases, we started counting from the 18.1k low.
First, Route 1.
From 18.1k to 19.9k A, it rose in 5 waves.
Since then, it has had the characteristics of B (abc) wave and B wave, which are clearly visible, and I saw it as B wave up to 18.6k.
Moving waves from 18.6k are difficult.
The difference between the Route 1 and Route 2 perspectives is whether one more wave rise is left or whether the upward wave is over, while Route 1 is the view that the upward wave is closed.
The ratio of waves A to C dropped very neatly to 1:1.382.
It's usually one of the percentages shown by ABC, so if you leave the light blue parallel channel like this, you're more likely to be from this perspective.
Second, Route 2.
From 18.1k to 19.9k A, it rose in 5 waves.
Since then, it has had the characteristics of B (abc) wave and B wave, which are clearly visible, and I saw it as B wave up to 18.6k.
Route 1 and this perspective are the same, but the difference arises in how far you look at the C wave.
The recent uptrend has been strong, and since the light blue parallel channel has not broken downward from yesterday's decline, we believe that one more wave rise remains.
The wave from the high, labeled C-3 wave, also appears to have ended in abc.
In this view, the C wave is expected to rise one more wave to 21.5k ~ 21.6k, which is the value of 1.618 A wave, and overlap with the parallel channel break line.
When 21.5k ~ 21.6k comes, the short position seems to have a good profit and loss ratio.
If you leave the light blue parallel channel, the probability that it is Route1 is up
If you creep up without leaving the light blue parallel channel, the probability that it is Route2 is up.
Let's respond to the direction in which the BTC moves.
The FOMC interest rate issue is scheduled for November 3.
Since this is the last rate announcement of the year, volatility is expected to be high.
There have always been a lot of lateral movements before the FOMC issue, so watch out for fake movements!
Route 1, Route 2
In both cases, we started counting from the 18.1k low.
First, Route 1.
From 18.1k to 19.9k A, it rose in 5 waves.
Since then, it has had the characteristics of B (abc) wave and B wave, which are clearly visible, and I saw it as B wave up to 18.6k.
Moving waves from 18.6k are difficult.
The difference between the Route 1 and Route 2 perspectives is whether one more wave rise is left or whether the upward wave is over, while Route 1 is the view that the upward wave is closed.
The ratio of waves A to C dropped very neatly to 1:1.382.
It's usually one of the percentages shown by ABC, so if you leave the light blue parallel channel like this, you're more likely to be from this perspective.
Second, Route 2.
From 18.1k to 19.9k A, it rose in 5 waves.
Since then, it has had the characteristics of B (abc) wave and B wave, which are clearly visible, and I saw it as B wave up to 18.6k.
Route 1 and this perspective are the same, but the difference arises in how far you look at the C wave.
The recent uptrend has been strong, and since the light blue parallel channel has not broken downward from yesterday's decline, we believe that one more wave rise remains.
The wave from the high, labeled C-3 wave, also appears to have ended in abc.
In this view, the C wave is expected to rise one more wave to 21.5k ~ 21.6k, which is the value of 1.618 A wave, and overlap with the parallel channel break line.
When 21.5k ~ 21.6k comes, the short position seems to have a good profit and loss ratio.
If you leave the light blue parallel channel, the probability that it is Route1 is up
If you creep up without leaving the light blue parallel channel, the probability that it is Route2 is up.
Let's respond to the direction in which the BTC moves.
The FOMC interest rate issue is scheduled for November 3.
Since this is the last rate announcement of the year, volatility is expected to be high.
There have always been a lot of lateral movements before the FOMC issue, so watch out for fake movements!