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Corrective

My view after two years (Sharp correction pattern)Hi there, I wanted to share my thoughts on Sharp's corrective pattern with you. I have been studying this pattern for about two years now and it follows three basic rules. The pattern consists of five waves that are similar to the impulse pattern. Based on my personal experience, this pattern can also be labeled as a triple zigzag (W-X-Y-X-Z). While analyzing different markets, I found a similar number of this pattern and often labeled it as an impulse pattern by following the rules. As per the wave principle, after the completion of five waves, we look for three corrective waves which may also become more complicated. However, we then look for five more waves to complete a good zigzag pattern. But the market often surprises an analyst at this point. I hope my explanation helps you understand Sharp's corrective pattern a little better. Good luck!
FOREXCOM:XAUUSDEducation
by Mehdi_Abbasi_EWP
ELLIOTT WAVE STRUCTURE BASICShere is some basic principles to discern between Corrective and Impulse. For corrective waves, it helps contextually to have a wave prior to measure the timing and retracement to. A simple way to tell the two apart is their retracements either do or do not intersect each other. A trending impulse wave will never have wave 4 enter wave 1's territory, and never surpasses 2. Otherwise the wave count is incorrect. The left-most corrective waves (ABC) are generally classed as 2nd wave structures, and the corrective waves on the right (ABCDE) are generally wave 4s. important to actually do the homework and chart the waves, and the waves within the waves. With many revisions, will notice that waves in whole are congruent within the structures within, and so forth. aka fractals.
BITSTAMP:BTCUSDEducation
by jjbuttersnaps
📚 Understanding Price Action - Impulsive & Corrective Moves 📚For every currency pair, all the price action can be broken down into 2 different waves. Impulse waves and corrective waves. Both of these waves have the same patterns within them such as flags, ascending/descending corrections, channels etc. The tip to finding out what phase we're in is to zoom out to a bigger timeframe and look at price action as a whole and ask yourself "is this impulsive or is this corrective". Once you understand that, you can more often than not understand where price will be going next. For CADJPY, we are in a flat ABC triangle and we are approaching the upper limits of the triangle. We also are in an ABC correction. On the smaller timeframe, if things line up, we can get in at the very top of the impulse and ride this back down! Try spotting corrections and impulses and watch how your chart game levels up!
Education
by WicktatorFX
11
Elliott wave Principle : Triangles There are 3 Types of Triangle, Triangle forms in Corrective waves, Triangle occurs in wave 2, 4 & B, 1) Contracting Triangle + Always Subdivides Into Five waves + at least four waves among wave A, B, C, D, each subdivide into a Zigzag or Zigzag Combination. +wave C never moves Beyond the end of wave A, wave D never moves beyond the end of waves b and D converges with a line connecting the eds of waves A and C. +A triangle never has more than one Complex sun wave, in which case it is always a zigzag combination or a triangle. 2) Expanding Triangle : most Rules are same as for contracting triangle differences is : + wave C, D and E each moves beyond the end of the preceding same- directional sub-wave. + sub-waves B, C and D each retrace the last 100% but no more than 150 Percent of preceding sub-wave. 3) Barrier triangle : + a Barrier Triangle has the same characteristics as a contracting triangle expect that waves B and D end at essentially the same level. We have yet to observe a 9-wave barrier triangle, implying that this form may not extend. + when wave 5 follows a triangle, it is typically either a brief, rapid movement or an exceptionally long extension.
Education
by Trade-Technique
6
Elliott wave : Simple zigzag Bearish & Bullish market Hello , I am back with my new idea . "Elliott wave concept" you can see this is Zigzag in bullish market zigzag : ----------------------bullish market----------------------- --------------------------------------------------------- ---------------------bearish market------------------------- we see zigzag in corrective waves 2,4 & B wave A always makes 5 wave which is 1,2,3,4,5 or it can make Leading diagonal wave C always makes 5 wave which is 1,2,3,4,5 or it can make Ending diagonal wave B never ever move beyond wave A and it subdevided into 3 waves or we can see zigzag , flat , double zigzag , combination etc. wave C frequently always ends beyond starting point of wave 1 --------------------------------------------------------------------------------------------------------------------------------------------- Ratio of Retracement Normally Retracement of wave B : 38.2% to 78.6% of wave A + if wave B is Triangle : it retraces 38.2% to 50% + If wave B is Zigzag : it retraces 50% to 78.6% of wave A + if wave B is running triangle wave b can be 10 to 40% of wave A Thanks for your valueable time
Education
by Trade-Technique
6
Waves 101: Basic wave characteristicsHi all, I would like you all to have a basic understanding of how waves (Elliot Waves essentially) feel like. Impulse waves (the 1, 3 and 5 you hear of quite often) are generally easier to "feel". See the chart for example. The fall from 11.7k to 8.3k was pretty easy to detect as a downtrend. There is little scope of confusion during these waves. Corrective waves on the other hand (the 2 and 4 waves and well, many different forms. Mind it, they are not just simple ABC waves as commonly believed) are pretty complex. They are generally combinations of different types of waves and create confusion of bullish/bearish nature on shorter tf. Here for example, we have been correction the impulse wave down and if you are active on the chat, you will see sentiment swing every few hours owing to the complex nature of the wave. Note: the impulse wave down can even be a part of corrective wave of a higher degree. Don't get confused here, just want everyone to know how to detect these waves.
BITFINEX:BTCUSDEducation
by RyanPal
Practical Exercise - Identify 1st Market ScenarioUnderstanding that market moves in an impulse or corrective nature, we can now further categorise market moves into 3 scenarios. Here we will illustrate the 1st scenario - an impulse move, followed by a corrective move. Practical Exercise 1) Find an example of such scenario in the market. It can be any currency pair, any timeframe. 2) Record down what's the next move after this scenario. 3) Repeat this practice to gather a total of 10 examples. *Refer to the first comment below for a sample of this practical exercise.
TVC:DXYEducation
by KarYong
1
Practical Exercise - Identify Impulse and Corrective MovesMarket moves can generally be categorised as either an IMPULSE move or a CORRECTIVE move. A fast and strong move is described as an IMPULSE move. A slow and weak move is described as a CORRECTIVE move. Practical Exercise 1) Pick any currency pair, any timeframe, and identify the IMPULSE and CORRECTIVE moves on the chart. 2) Draw a line on the IMPULSE move; draw a box on the CORRECTIVE move. 3) Post your chart on the comment section below. 4) Repeat this practice on 2 other currency pairs. *Refer to the first comment below for a sample of this practical exercise.
TVC:DXYEducation
by KarYong
3