I think that this concludes Intermediate Wave 2.
I could be wrong, I hope I am, because if I am right, the carnage will be terrible. Please mitigate your risk, that is the only purpose as to why I have started posting.
Please, please, please be careful.
Trade safely. Comment: I should clarify a few things before I stir panic, there is the possibility, that this is still within the Wave 4 correction, and it has turned into an Expanded flat, there is a 3-3 count here. That would mean that the top is not in and there is one more high to print.
I had a series on count invalidations occur which meant I had errors in my count. I have since rectified them and this is the count that makes most logical sense given the behaviour of PA.
I will continue to monitor and post an update when I have confirmation. The true bear run confirmation is at 27108. Comment: Found another error, now we have a clearer picture…
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Comment: With each invalidation we double check the count… I think it was a complex correction, no wonder I couldn’t get it.
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Comment: 30984 Comment: 31022 Comment: Real possibility the top is in… Please trade carefully…
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Comment: I can confirm that the count presented above is incorrect, however, my overall sentiment remains bearish until we break 32950.
If the Super Cycle Wave 4 correction is not complete, I now place PA in Wave 5 of Wave C of Primary Wave 4, within Wave C of the correction.
If the Super Cycle Wave 5 correction is complete, I now place PA in Wave 3 of an extended Wave 3, which essentially will create the next bull run.
Personally, I am still holding a majority cash position, I will wait for confirmation before I put my dollars back in. Comment:
Comment: I think we are bullish, happy if we are, the main intent was to inform people this count existed to help mitigate risk.
I will recount and go from there.
I think all the EWT charts just got broken. Comment: My count was incorrect, since then I have recounted. Currently, I am unable to make a count bullish. The correction is not over, do not believe the hype.
Here is my updated count.
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Comment: Ignore the micro count, I have not fixed it on this chart. However the count is VALID.
Possible Ending Diagonal forming… Please trade cautiously…
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Comment: If you are wondering why I post so many micro updates, the purpose is count validation. If I am capable of predicting PA behaviour, I can begin to work out what happens next.
Currently, I am waiting to see if this does form as an Ending Diagonal. Until I have more structure, I will continue to predict, it is the only way to play the game.
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Comment: For those of you that do not know EWT.
If this is an Ending Diagonal, PA behaves in a very specific way, and we can easily identify the top. IF THIS IS AN ENDING DIAGONAL.
Firstly, you need to understand that EWT works in fractals, despite currently charting on the 15 Minute time frame, it is all about the structure.
The termination for an Ending Diagonal is at the -0.236 FIB when measured from the top of Wave 4, to the bottom of Wave 3. Obviously, it may go higher, but generally speaking, it hits that level and immediately reverses.
BTC terminated Super Cycle Wave 3 as an Ending Diagonal, these form prior to a major reversal, generally at the end of bull runs, and bear markets.
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