Elliott Wave theory is one of the most accepted and widely used forms of technical analysis. It describes the natural rhythm of crowd psychology in the market, which manifests itself in waves. The essence of Elliott waves is that prices alternate between impulsive phases that establish the trend and corrective phases that retrace the trend. In their most basic and straightforward form, impulses contain 5 lower degree waves and corrections contain 3 lower degree waves.
Elliott Wave is fractal and the underlying pattern remains constant. The 5 + 3 waves define a complete cycle. They can form different patterns such as ending diagonals, expanded flats, zigzag corrections and triangles. Fifteen different degrees of waves can be identified with each of the 5 smart drawing tools, allowing users to visually identify different degrees of waves on a chart. The key to trading Elliott waves successfully is counting them correctly for which there are rules and guidelines.
Dear Friends!
We are still following the path down my 5th Wave Ending Diagonal. Let me summarize:
Ending Diagonals Happens When:
- The price has declined extremely fast and too far during wave 1 to 4 due to panic
- Bitcoin is now oversold - Investors has begun to accumulate or buy steadily
- Descending wedge/diagonals points to an accumulation
- Ending ...
While price is trading within the bearish channel, a good opportunity to look for a short trade around 113.87 area where the completion of a shark pattern is.
We are projecting price to move lower towards 112.10 to complete the 3-wave structure for a larger up move.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you ...
Price is currently respecting the channel nicely.
Usually when price does that, it is in a nice corrective structure.
We are thus projecting a simple 3-wave structure to complete around 1.1482, giving us a decent shorting opportunity for the EURUSD
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in ...
Hello traders.
The current structure can be a completed correction and that's why I'm looking for the long trade setups
for the next daily impulse. The minimum target for that wave will be 1.04. But, it will make a correction,
and come down one more time, IMO. In this case, we will probably manage to make 2-3% profit.
For more details and the daily updates ...
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or ...
Mark Douglas on Chart Patterns:
We can use all the various tools to analyze the market’s behavior and find the patterns that represent the best edges, and from an analytical perspective, these patterns can appear to be precisely the same in every respect, both mathematically and visually. But, if the consistency of the group of traders who are creating the pattern ...
Price made a strong move lower testing the lower trendline of the channel.
We are projecting price to make a correction (retracement) towards 1.1374 area for the day.
Should price retrace in a corrective manner, we are expecting price to make another impulse move lower towards 1.1236.
Lookout for shorting opportunities around 1.1374 area.
*Disclaimer - This ...
The auto industry has been clobbered due to Trade Wars.
China just released some news about reducing tarrifs on US cars going into China.
GM has a huge portion of its market in China, so now is the time to long it.
Technially, this asset this key fib levels on the way down, and bounced where it should have.
Now the bounce has retraced to a perfect spot that ...
GU is at a very strong support zone.
Even though it broke below the psychologial 1.25000, there is much fib support here.
Of course, if PM May loses power, GU will take a strong dip.
BUT, that may actually be GOOD for the Pound going forward, if the market imagines a more capable PM.
I expect some bounce right now, maybe just a dead cat.
If this support breaks, ...
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or ...
Gold prices just recently bounced off the ascending channel resistance and i am expecting prices to continue dropping towards the 50% retracement level of 1223.62. Possibly, prices may continue going further down until they test the lower ascending channel resistance. Though i have already entered a short position a bit late, it is better to check price action to ...
A leading diagonal is forming which will bottom around 3000 (teal line). A rally up to 4500-5000 should follow in the form of a corrective wave (2).
An alternate count has us in an irregular flat (yellow line), which should also terminate in the 4500-4700 range.
According to Elliot Wave Theory, after a leading diagonal or an irregular flat (in wave 2) the third ...
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or ...
Hi
Market completed Wave 2 in ABCDE with a range bound .
Now I do expect it will start forming wave 3 for Long trade .
Regards to all
Elliot wave By mazchaudhry
Hello Traders,
Exxon Mobil (ticker: XOM) has broken below Nov 23 low ($74.7) and opens further downside in the stock with incomplete sequence from Sept 25 high ($87.36). Short Term Elliott Wave view suggests bounce to $81.97 on 12/5 high ended red wave X. Decline from there is unfolding as a double three Elliott Wave structure where black wave ((w)) ended at ...
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
