asegretto

TRX/USD 99% ABC retracement

BITFINEX:TRXUSD   TRON / Dollar
This chart partners with my TRX/BTC             chart and analysis I just posted a second ago.

I share Haejin's primary count on TRX/USD seen here on Steemit: https://steemit-production-imageproxy-upload.s3.amazonaws.com/DQmddnyNjv1Z9pwELd4sEWq2NE8FuVPADZ9z3aifbFMDyj9

I am expecting that, when it is time to complete the right wall of the cup we will see primary wave 1 have an extended 5th subwave taking it into the range of $0.091 which will be followed by something close to an 88% retrace for the completion of wave 2.

TRX/USD is in the horizontal column fluctuating between $0.023 and $0.058, since wave 5 of the 5 wave impulse on the TRX/USD chart topped out around $0.056, and did not over extend itself upwards towards $0.091, and did not bust through the upper resistance of the horizontal column, we can expect the current correction on TRX/USD should be close to 99% (we are still fluctuating within the column, we are not starting the right wall of the cup and handle pattern yet)

I have the first subwave of B coming in at $0.08 from $0.028 to $0.036; if wave 1 has completed 50% of B, and we have a 1:1 ratio forming then we have wave B topping out around $0.046. Wave B would therefore be a 62% retrace of wave A.

The 78% ratio has been common on the TRX/USD chart. With the top of B at $0.046, if wave C is 78% of wave A we have wave C bottoming out back at $0.028 with a total retracement near 99%.
Bình luận: Correction, the rest of B would be 200% of wave 1, from 0.03 to 0.046.
Bình luận: Well... the height of B was dead on nuts. The C wave is an expanded flat: 3,3,5. Here are the projected details to the last 5 waves of the flat.

wave 1: 0.044 - 0.0088 = $0.035
projected 50% retrace wave 2: 0.035 + 0.0044 = $0.039
projected 1.62 ratio wave 3: 0.039 - 0.014256 = $0.0248 bounce target
projected 50% retrace wave 4: 0.0248 + 0.007128 = $0.0319 bounce target
projected 1:1 ratio wave 5: 0.0319 - 0.0088 = $0.0231 bottom target

This puts the bottom of C at the exact same value as the start of the impulse, as projected!
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