BTCCNY EW analysis - Clear triangle formation

22 февр. 2015 г.

The BTCCNY pair has gifted us a clear triangle count, detected early unfolding in 3's. This fits well here because triangles are terminal moves, they occur in position iv and b only. This is likely iv of C, or or b of a double zig-zag. I expect this point to be a significant reversal within the larger down trend, as we still more to go down to satisfy bot medium and longer term counts.
It seems to be aiming at around 1580-1600 currently.

Scalp long, hold short.