We are facing three possibilities after recent dip below 9K. Running ZIGZAG: Simple Five waves up from circle 4 to meet lower uptrend channel band and exceeding end of wave circle 3 ($9700) might be end of circle 5. In this scenario we do not need to exceed 10k to complete. top of circle 3 is sufficient. Wave A is equal C Running Triangle: Move to red D that...
All information given inside the chart. I shared this for the education purpose only to learn. Thanks lot.
Ticker: COINBASE:LTCUSD Timeframe: 1D/2-3 years Quick LTC long term theory more for me to reference back to. Will also dabble with a long term bear theory even though it scares the living piss out of me. Short Term: Slightly Bearish Mid Term: Neutral Long Term: Bullish Af Current Market Sentiment: Tired of the FUD, Skiddish Bear
STEP 1 - Once the 1 wave is completed use Fib Retracement to find out the possible wave 2 level. Usually wave 2 is 0.5 - 0.8 of wave 1. In a uptrend Fib level is close to 0.8 but its the opposite on downtrend STEP 2- Once the wave 2 is completed use Fib Extension to find out the possible wave 3 level. Usually wave 3 is 1.618 of wave 1 or 2.618 of wave 2. STEP...
Corrective waves offer less desirable trading opportunities because of their potential complexity. Impulse waves are trend-defining price moves in which prices typically travel far. Conversely, corrective wave patterns fluctuate more and can unfold slowly while taking a variety of shapes, such as a zigzag, flat, expanded flat, triangle, double zigzag, or...
I am NOT and Elliot Wave expert. Just wanted to put this out as my first ''Educational'' Idea. Will update with further thoughts after posting.
My method and key metrics I check before entering a trade or even getting too technical with the chart. You know: Why would we set ourselves up for failure? I thought I'd share this with my friends, and why not make it public too. General coin info. Does the project have a whitepaper and exposed team? Is the developer still involved? Is the team...
Understanding and having a basic expectation of how the market tends to move is important not only for traders, but for investors too. If you get in too early, you suffer unnecessary drawdowns. If you get in too late, you will either suffer losses, or miss the train. In trading and investing, there is more than just entry and exit.
Not quite following the usual Elliot Wave downwards movement but keep in mind that corrections do not always follow the guidelines of Elliot Waves. For now the price is following the projection neatly, will update once anything notable happens.
Here are some of the basics of Elliot Wave Theory. Elliot waves are what makes me money. A lot of people don't use them because they are typically hard to count, and people give up when things go the wrong way. Every wave always has its own set of 5 subwaves. When you finish a full set of 5 big waves, it now becomes ONE large wave. Rules: 1) For EVERY wave,...
Hello Traders. Hope everyone is staying warm. Snow and zero degree temperatures expected in Virginia. Many traders use many different indicators. There are so many its impossible to tell which ones are useful. Simplicity is key. The most important tool in a traders toolbox is the ability to deceiver the prevailing trend. Using higher high/ lower low analysis we...
ZCL and the emotional market cycle. The resemblance to the classical pattern of boom and bust is uncanny. wallstreetjackass.typepad.com The boom manifests itself in 5 wave impulse move. Checkout Elliot Wave Theory. www.babypips.com The bust culminates in a 3 wave correction down to the vicinity of where it all started. If you can identify these patterns in...
The Flag Pattern is derived from the concept from Elliott Wave and a breakout technique. Practical Exercise 1) Identify a corrective move that look like a Flag Pattern, it can be any currency pair, any timeframe. 2) Record down where does price move after the completion of the Flag Pattern, and how far it travelled. 3) Post your exercise on the comment...
The ABC Pattern is derived from the ZigZag concept from Elliott Wave, and the 1-1 concept from Harmonic Patterns. Practical Exercise 1) Identify a corrective move that look like a ABC Pattern, it can be any currency pair, any timeframe. 2) Using Fib expansion, measure the ABC Pattern. 3) Record down where does this ABC Pattern completes. 4) Also, record...
1. The Elliott Wave Principle posits that collective investor psychology, or crowd psychology, moves between optimism and pessimism in natural sequences. These mood swings create patterns evidenced in the price movements of markets at every degree of trend or time scale. In Elliott's model, market prices alternate between an impulsive, or motive phase, and a...
Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still...
The odds are lining up against the bulls. They may see a holiday cheer with a kiss of 2600 if lucky. However, the pullback from 2597 is incomplete and Bears are preparing for their feast. Continuing last week's issue the pullback is underway for an eventual total of 2-3% from the 2597 peak. Elliott wave count, a Fibonacci level of 1 from the the 2/2016 low, a...
Time for a pause of the upward trend while the Bears to welcome cooler times. Their romp will be brief, but I expect their volume to be loud. A pullback of 2-3% has been long anticipated and is finally here. For the Bulls it provides a breather before the next advance. A much larger tussle is ahead in Dec/Jan. For now, there is something for everyone.