SPX's chart/market is driven by Fundamentals ( FED) as most traders perceived. But I do agree with Robert Prechter and Alessio Rastani that market/ chart is driven by the "rotating cycle" of "supply/demand" rather than news/fundamentals even though I don't agree Robert Prechter with (Founder of Elliott Wave International) have been calling for major crash (which...
I highlighted two areas. which one do you think is a corrective pattern and which one is a motive pattern due to wave principle?
A wave that consumes time and has a lot of intersection with its other waves is a corrective wave
And a wave that consumes price more than time and has very least intersection with its own waves is probably a motive wave. It is obvious...
As you can see in the chart BTC has done a 62% retracement from each subsequent high and low including the high in december. This is done drawing from the high to where it dropped to as the bottom from which the next subsequent rally would start from. Each rally and fall has followed this pattern.
Credit to Allessio Rastani on youtube for showing this.
You can...
