Elliott Wave Theory attempts to identify recurring price movements within financial markets and to classify them into a set of meaningful patterns, which can become a reliable tool for future price predictions. The underlying principle is that price-action unfolds via an endless alternation between trending and corrective cycles, while producing this effect on...
In this post, I'll be providing an in-depth explanation on Elliott Waves, specifically Impulse Waves and Corrective Waves.
I personally use Elliott Waves a lot, and as it seems like the majority of my followers are beginner traders unfamiliar with the concept of waves, I decided to do an educational post on it.
The concept of Elliott Wave Counts are extremely...
For my newer followers or those that missed this post previously, here's a generic trade plan explaining all those horizontal lines on my charts. Notes on the image should be self-explanatory. Minor and minute waves are shown, but this method can be used on any time scale / Elliott Wave degree. Learn more about trading Fibonacci Pinball from the pros at...
Hello guys :)
In the previous tutorials we have taught you what Elliott wave theory is.
In this tutorial we're going to talk about extensions.
we have an extension in either wave 1, 3 or 5.
Follow me for more tutorial.
D4rkEnergy is back with an educational post about Elliot Wave-Theory. Yesterday, Philakone, a famous crypto-trader and TA-educator, was calling out one of the Top Authors in here, because he could not figure out how to draw lines. Philakone wrote the following on Twitter:
"How to NOT draw Elliot Waves. it blows me away... this guy has one of the...
You can find many websites, even free books of Elliot Waves Theory. But if you read it by on eye, can understand its kind of shamanistic predictions. law of the universe - from small to big, law of complication and development. To build waves, should start from max. minimum time frame -1 min. than 1 min group in 5-15 min, than to 30 min, 30 min group to 1 hour,...
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.
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...
Technically speaking, it should sell audusd below 0.7334 (max wave 4), but potentially the pair could reach the resistance at 0.7385, if it will happens, the trend will remain bearish only if it will develop a spyke with a daily close below 0.7334. A daily close above 0.7334, it will fail the bearish impulsive structure.
This is not "a call" for you, but only an...