Here is the example of complex wave calculation based on elliott wave principle. Overall complex correction wave consists of 5 combined wave (w)-(x)-(y)-(x)-(z). These complex correction played out for very long period time thus can be very confusing. (w) wave is a zigzag of a-b-c, followed by triangle a-b-c-d-e (x), another zigzag a-b-c (y), followed by flat...
We all know This is a correction But Fewer people know This is a double zigzag
BEST PLACE FOR ENTRY AREA ============================ CR1 = Research for BUY OPPORTUNITY on W(2) and W(4) CR2 = Research for BUY OPPORTUNITY on W(2) and W(4) CR3 = Research for BUY OPPORTUNITY on W(4) CR4 = Research for BUY OPPORTUNITY on W(2) and W(4) CR5 = Research for BUY OPPORTUNITY on W(2 ) and W(4) CR6 = ...
Basically Elliott Wave rules state that the market moves in a series of 5 and 3 Waves. Here we are going to take a look at the basic 5 Wave structure and general fibonacci rations that come into play with these Waves. As you can see in the main picture that we have a 5 Wave down movement which has all the ideal fibonacci ratios.
The line graph is EUR/USD & Candles USD/CHF This is a common pair that traders say is inversely correlated... Is there correlation between economies? Is it because of USD's part? Will correlation make you the good R/R trades or structure? Is there a way to trade the correlation (if any) effectively? Draw your own conclusions & have a good weekend!
TYPES FLAT CORRECTION WAVES: There are three predominant types of flat corrective waves. These include: Expanded flat: This is arguably the most common flat wave formation and occurs in the second and fourth wave of an impulse wave. What connects the expanded wave to the initial impulse wave is a zigzag or other types of triple or double connection. In a...
The diagonal triangle is a particular type of wave composed of Five minor movements that move within two trendlines, both ascending (or descending), converging in the direction of main trend. Diagonal triangles substitute for impulses at specific locations in the wave structure. They are the only five-wave structures in the direction of the main trend within...
Sequence of Impulsive Waves (12345 bullish). These are 8 Fibo/Ratio we use in our analysis/setup. From a technical point of view (guidelines), traders try to: => take Long Position on Wave 2 (38%/61.8% W1) => and Stop below Wave 1 (close bar) => take Long Position on Wave 4 (38%/50% W3) => and Stop below Point 1 (close bar) Thank you for your...
Starting this week, we will begin the Elliott's Basic Course. Our main goal is to understand the strategy, and how it can adapt to every Trader Profile. To do this, we will not need to explain any "under-wave" detail, but we will need to understand support levels and target waves, for our Trading Plan (setup). Before you start, this "glossary" will be useful...