The ultimate goal of using Elliot waves is to label each wave with the knowledge that after a wave labeled L5, for example, we think that some type of directional movement is higher probability than picking randomly. In order to label a wave appropriately you have to do quite a bit of footwork. With the chart labeled as I have labeled it, and using the...
In this quick and easy lesson, I will break down the concept of liquidity.
If you retain the thought that liquidity stands for an area where stop losses are you will grasp this concept quickly.
We often see spikes into areas of liquidity before true moves continue, this is so that banks can capture as many orders as possible before they depart from the area.
After sticking to the rule of proportioning (using 45 degree angle on m1), and rule of observations (labeling past waves m0, m-1, and future waves m2, m3 properly relative to m1), now we want to measure the retracements of these waves.
The author of this book suggests people should use rulers and protractors and all that other caveman stuff. Sometimes technology...
Here is my take on playing around with Elliot. My assumptions are: Institutional trades started to make moves towards the end or after the 2017 bear market and Covid a Black Swan and if it did not happen there wouldn't have been the big dip.
So my 0 for Elliot is the bear market low.
When calc. 1& 2 at the first reversal. March 2020 shows concern, but I wrote...
The big takeaway for me was that this is a very complex and all encompassing way of chopping up market patterns. There are a lot of people who don't think it's a good way of doing it, and there are a lot of people who really put a lot of time into it and mastered it, and in doing so, made it work for them. It's not an easy discipline to learn, and it can take...
Hello Traders. Welcome to Chapter 4.2, where we will be learning about channeling in Elliott Waves (also known as, parallel channels) - something that many of you are probably already doing in your daily technical analysis, but probably have not known that it could be used within the Elliott Wave theory. This method is going to give us an extra edge when it comes...
So you want to get into price action?
Not fundamentals ey. But then one HAS to do all this backtesting, there is no dodging it.
Can't go into "TA" to dodge the FA work, and then want to also dodge the stat work xd
No magic trick here.
Let's get started immediately.
EURUSD 2020 covid trend (can't 100% dodge fundas, always good to know why we're going in a...
What is an ascending/descending correction?
The most common reversal pattern is the rising and falling wedge, which typically occurs at the end of a trend. The pattern consists of two trendiness which contract price leading to an apex and then a breakout appears.
Rising Wedge – Bearish Reversal
The ascending reversal pattern is the rising wedge which...
What is an ascending/descending correction?
The most common reversal pattern is the rising and falling wedge, which typically occurs at the end of a trend. The pattern consists of two trendiness which contract price leading to an apex and then a breakout appears.
Rising Wedge – Bearish Reversal
The ascending reversal pattern is the rising wedge which...
Trend lines are used in technical analysis to define an uptrend or downtrend. Traditionally, uptrend lines are made by drawing a straight line through a series of ascending higher troughs (lows). ... With downtrends, trend lines are formed by drawing a straight line through a series of descending lower highs.
In an uptrend, the “imaginary line” acts as support...
●●● 𝙏𝙧𝙞𝙖𝙣𝙜𝙡𝙚 (T)
❗❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙧𝙪𝙡𝙚𝙨
● A triangle always subdivides into five waves.
● At least four waves among waves A , B , C , D and E are subdivided into a single zigzag.
● A triangle never has more than one complex subwave, in which case it is always a multiple zigzag or a triangle.
❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙜𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨
● Usually, wave C subdivides into a...
Candlestick patterns are frequently applied for the identification of early trend reversal signs .
Here are the three most common reversal formations that you may encounter trading different markets:
1️⃣ - Equal inside bar formation
Once the price reaches some important pivot point quite often it tends to form a weak candle with a long rejection wick ...
Candlestick patterns are frequently applied for the identification of early trend reversal signs .
Here are the three most common reversal formations that you may encounter trading different markets:
1️⃣ - Equal inside bar formation
Once the price reaches some important pivot point quite often it tends to form a weak candle with a long rejection wick ...
●●● 𝙁𝙡𝙖𝙩 (FL)
❗❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙧𝙪𝙡𝙚𝙨
● A flat always subdivides into three waves.
● Wave A is always a zigzag, flat or combination .
● Wave B is always a zigzag.
● Wave C is always an impulse or a ending diagonal.
❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙜𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨
● Wave A is usually a zigzag.
●● 𝙀𝙭𝙥𝙖𝙣𝙙𝙚𝙙 𝙁𝙡𝙖𝙩 (Exp.FL)
❗❗ 𝙍𝙪𝙡𝙚𝙨
● Wave B always ends after the start of wave A...
