SkyRockSignals

Mastering Elliott Wave Analysis

Education
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Hi, traders!

Today we gonna speak about Elliott wave principles. The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors. Ralph Nelson Elliott (1871–1948), a professional accountant, discovered the underlying social principles and developed the analytical tools in the 1930s. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves , or simply waves. Elliott published his theory of market behavior in the book The Wave Principle in 1938, summarized it in a series of articles in Financial World magazine in 1939, and covered it most comprehensively in his final major work, Nature's Laws: The Secret of the Universe in 1946. Elliott stated that "because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable." The empirical validity of the Elliott wave principle remains the subject of debate.

Comment: Small update of ZigZag waves description
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Comments

Thank you for sharing this insight @SkyRockSignals .

Can you please share a full overview of impulse and corrective both in 1 picture?
Impulse 1-5 with corrective A-C zigzag
Impulse 1-5 with corrective A-C flat

Thank you so much for your awesome work your explanations are well represented, neat and systematic. Ode from the heart.
Arigato Gozaimasu.
+2 Reply
@H4WK3Y35, sure, we'll do it completion. The article will be updated and will get more complex overview of the topic.
+1 Reply
H4WK3Y35 SkyRockSignals
@SkyRockSignals, Thank you million times 🙏 🙏 🙏 🙇 🙇 🙇
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H4WK3Y35 SkyRockSignals
@SkyRockSignals, if I understand properly coupling fib retracement with eliott, the corrective (start of A/end of 5 to completion of A) always retrace to maximum 0.786 first support zone then retest 0.236 (end of B) first resistance zone then back retest the floor 1 (C) in a zig zag move.

Am I getting this right? Or is it wrong interpretation?
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Nice overview, summary of elliott wave basic. Thanks for sharing, SkyRock
+1 Reply
SkyRockSignals spacepoliceman
@spacepoliceman, thanks for your feedback. What would you like we to write about?
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thank you for very detailed explainations.
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I am new to Elliot Wave patterns and hoping for clarification on pricing. Are the top & bottom of the waves based on closing price, or candle wicks. Currently I’m looking at BABA, I believe that it is the bottom of wave 4 but, the wick is touching the top wick of wave 1.
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nice details, wanna learn more
gonna follow you
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@polide08, subscribe our Telegram chanel to be aware of all actual updates! Thanks for feedback!
+1 Reply