Tron Correction Looks Just Like BTC in 2014-17 (Elliott Wave)
After very close inspection, it appears that TRX is in a pattern that is extremely similar to the correction that occured on BTC during 2014-17, before the previous "Alt Season" began. It's quite uncanny actually.
These rules and guidelines end up working perfectly on BOTH of the above charts.
Violent Wave-A
Shallow and relatively long (time-wise) Wave-B
Timewise A+B=C, B+C=D, and C+D=E (all common time EW targets)
Wave-D is an expanding triangle
Wave-E is a double or triple three
Wave-E retraced Wave-D less than 61% (as would be expected if wave-D was a real expanding triangle)
The channeling between B-D and A-C goes from parallel to contracting
There was consolidation into the apex of the triangle
Wave-E broke away from the triangle and then returned to the apex after wave-x of E
At a slightly lower degree:
Wave-b of B makes a lower low
Wave-c of B ended at a lower high relative to the high of wave-c of B
Wave-d of D ended at a higher low relative to the low of wave-d of D
Wave-e of D was very violent and followed by a violent wave-a of E
1st abcde of Wave-E is a contracting triangle
2nd abcde of Wave-E is a neutral triangle
On the dimensions of wave structure, time, and channeling, these waves are uncannily similar. On the dimension of price there are some slight differences, but ultimately the structure is so similar at this point I'm pretty confident that the long-term correction on TRX will end in September, when Wave-E is equal in time to Waves-C+D, and at a higher price than it is now. Also because the move to follow after the long-term correction is likely to be comparable to december 2017 we could be over ATH well before the end of the year.
Just to note this is me applying my analysis in the same way to both charts, rather than forcing one count onto another chart, and it's giving me the same count on both charts, which is also by far the best count i've found for both pairs because both counts fit into ALL required Neely-Elliott rules. There's really no other count that could fit into all the rules here that I can see, especially when time rules are taken into consideration.
These rules and guidelines end up working perfectly on BOTH of the above charts.
Violent Wave-A
Shallow and relatively long (time-wise) Wave-B
Timewise A+B=C, B+C=D, and C+D=E (all common time EW targets)
Wave-D is an expanding triangle
Wave-E is a double or triple three
Wave-E retraced Wave-D less than 61% (as would be expected if wave-D was a real expanding triangle)
The channeling between B-D and A-C goes from parallel to contracting
There was consolidation into the apex of the triangle
Wave-E broke away from the triangle and then returned to the apex after wave-x of E
At a slightly lower degree:
Wave-b of B makes a lower low
Wave-c of B ended at a lower high relative to the high of wave-c of B
Wave-d of D ended at a higher low relative to the low of wave-d of D
Wave-e of D was very violent and followed by a violent wave-a of E
1st abcde of Wave-E is a contracting triangle
2nd abcde of Wave-E is a neutral triangle
On the dimensions of wave structure, time, and channeling, these waves are uncannily similar. On the dimension of price there are some slight differences, but ultimately the structure is so similar at this point I'm pretty confident that the long-term correction on TRX will end in September, when Wave-E is equal in time to Waves-C+D, and at a higher price than it is now. Also because the move to follow after the long-term correction is likely to be comparable to december 2017 we could be over ATH well before the end of the year.
Just to note this is me applying my analysis in the same way to both charts, rather than forcing one count onto another chart, and it's giving me the same count on both charts, which is also by far the best count i've found for both pairs because both counts fit into ALL required Neely-Elliott rules. There's really no other count that could fit into all the rules here that I can see, especially when time rules are taken into consideration.
Wave-B ended below the high of Wave-A
Wave-C ended below the low of Wave-B
Wave-D ended below the high of Wave-C
Wave-E ended above the low of wave-D
Wave-E broke above the high of wave-D