This publication will focus on some of the rules and guidelines of wave formation in Elliot Wave theory in relation to the correctional sequences of Wave 4 and zigzags. Whilst Elliott Wave rules are requirements and form the basis of counting waves, understanding the guidelines of wave formation is as crucial in identifying wave structure and the likely scenarios...
Honorable Mentions Some very nice work has been done this week again by the Pine community. Shout out to Covax for publishing an attractive "Bitfinex Sentiment Index", beautifully rendering longs and shorts with some creative code; mortdiggidy's "Fisher Transform MTF" includes a unique function for the MTF Fisher, which, if I'm reading it right, solves the upper...
Here I'd like to share my favourite entry method. The chart is self explanatory. Let me know if you have any questions .... This will happen during Wave 3 and Wave 5 (for those who subscribe to the Elliott Wave theory) This pattern is sometimes called the Retrace, the Dip, the Pullback, the ABC correction, the ZigZag. The BOMB (by guerilla guys)
ββ ππͺπ‘ππ¨ β A zigzag always subdivides into three waves. β Wave βΆ always subdivides into an impulse or leading diagonal. β Wave βΈ always subdivides into an impulse or ending diagonal. β Wave β· always subdivides into a zigzag, flat, triangle or combination thereof. β Wave β· never moves beyond the start of wave βΆ . β Wave β· always ends within the price...
Potential Elliott Wave Zigzag (5-3-5) correction. β’ Zigzag is a corrective 3 waves structure labelled as ABC β’ Subdivision of wave A and C is 5 waves, either impulse or diagonal β’ Wave B can be any corrective structure β’ Zigzag is a 5-3-5 structure Fibonacci Ratio Relationship β’ Wave B = 50%, 61.8%, 76.4% or 85.4% of wave A β’ Wave C = 61.8%, 100%, or 123.6% of...
Double three is a sideways combination of two corrective patterns including zigzag, flat, and triangle. When two of these corrective patterns are combined together, we get a double three Guidelines β’ A combination of two corrective structures labelled as WXY β’ Wave W and wave Y subdivision can be zigzag, flat, double three of smaller degree, or triple three of...
Greetings I saw an example of a zigzag pattern on the GBP to USD chart, so I decided to share it with you guys. Nothing in the financial markets is a bet, I'm just trying to share the idea with you unbiasedly. This is not an analysis, only my point of view and the understanding of what I have been able to understand about the wave principle during these three...
This is a short video explaining how to draw support and resistance levels based on the ZigZag indicator.
S&P 500 Index (SPX) Trying to dive into some Elliott wave theory and I have a more "interactive" chart to present based off of historical data. I chose this sequence and timeframe because it seems easiest to understand with confirmed examples from some of my own reading materials. This was notated by previously known EWT masters to be a "Double Zigzag"...
The ABC Pattern is derived from the ZigZag concept from Elliott Wave, and the 1-1 concept from Harmonic Patterns. Practical ExerciseΒ 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...
Zigzag patterns are sharp declines in a bull rally or advances in a bear rally that substantially correct the price level of the previous Impulse patterns. Zigzags may also be formed in a combination which is known as the double or triple zigzag, where two or three zigzags are connected by another corrective wave between them.β 4. Flat: The flat is another...
Zigzag Correction Entry and Stop loss
Hello Traders. In this post I will be discussing every single Elliott Wave rule and guideline according to the Elliott Wave Theory. There are many confusions upon traders when applying Elliott Wave rules, as there are also guidelines to be considered when trading. ***RULES AND GUIDELINES ARE TWO DIFFERENT SET OF TOOLS!*** Elliott Wave Theory "Rules" MUST be...
βββ πΏππππ€π£ππ‘ (D) ββ πππ£ππ§ππ‘ π§πͺπ‘ππ¨ β A diagonal always subdivides into five waves. β Wave 2 never goes beyond the start of wave 1 . β Wave 3 always goes beyond the end of wave 1 . β Wave 4 never moves beyond the end of wave 2 . β Wave 4 always ends within the price territory of wave 1 (overlap). β An ending diagonal always appears as wave 5 of...
THE ONLY NOTICABLE DIFFERECNE IS THE CONNECTION WAVE "X" & "XX" IN WHICH THEY CAN BE ANYTHIGN BUT AN EXPANDING TRIANGLE !!! Double and Triple ZigZag Rules: Double (DZ) and Triple (TZ) Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining Wave called an x Wave, and are corrective in nature. Doubles are not...
βββ ππͺπ‘π©ππ₯π‘π ππππ―ππ (Mult.Z) Keep in mind that an triple zigzag is rare ββ ππͺπ‘ππ¨ β A Multiple Zigzag comprise two (or three) single zigzags separated by one (or two) corrective pattern(s) in the opposite direction, labeled X . In the first case, it is called Β«double zigzagΒ», in the second - Β«triple zigzagΒ» (The first single zigzag is labeled W , the...