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.
Hi,
We can see TRX/BTC has punched through the daily 200MA and the 618 fib level with a bear flag.
if we take the length of the flag pole it will proceed down very close to the 786 level. if it gets this close it will ping it.
(TRON likes to throw wicks out to its fib levels but then hits them anyway).
however there is a possibility we are approaching the bottom...
Still trying to improve my noob EW skills, so don't hit too hard at me.
But honestly, there's nothing else to see than a deep dive for #Ethereum.
So feel free to share you view on this TA, just want to improve!
Positive and constructive comments more than welcome!
Happy Easter weekend!
Indices
S&P 500 and Dow Jones are both in the same situation and might retrace soon, by end of month, just posted an idea about this
The DAX CAC40 and the Footsie are going up up up (and not at ath), I would want them to pullback and bottom while US...
Eventually this pattern showing itself more clearly as an "Ascending Triangle" albeit B is a little spikey!
Volume as said in Bulkowski downtrending 80% of the time.
Crucial level of resistance to break for upside $5345.
Estimated down target corrected to $4756.
thepatternsite.com
This is my Elliott wave idea about EURUSD on the 4 hours chart.
An overview of my Elliot wave analysis was shown on Mar 31th.
The idea this time is the same as last time (Apr 13th).
Last week, we are...
-------------------------------
SP:SPX shows signs of reversal
Although current move is quite steep, the move is still corrective and not impulsive
Significant fibonacci levels achieved
-------------------------------
After a steep move up we have several indications that a reversal in SP:SPX is due.
1) We have strong believe that move started 24-Dec-18 is...
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
CONFIRMACIONES:
analisis de market maker cerrando ciclo de venta (M,A,A,W)
soportada por ondas de eliott (1.2.3.4.5)
mostrando divergencia en el punto (3,5)
continuacion de analisis realizado la semana pasada
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
I'm showing this chart in this fashion for a few reasons. Let's take a look at the EW count. We have just completed wave 3 of 3 of the largest count. Currently going into wave 4 of 3 and should wrap this up in the next couple days. The EW count suggesting that we still have another leg up is justified by the 4 overlaying indicators here- let's take a look.
RSI:...
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.
