NeoWave theory was developed by author and financial analyst Glenn Neely. It's an expansion of R.N. Elliott's ideas and concepts, with its own technique to analyze waves, aiming to reduce the subjectivity and perceived contradictions of the traditional Elliott Wave theory while at the same time aiming to improve its predictive power. NeoWave is a discipline in itself with many additional rules and requirements and with new corrective chart patterns such as the neutral triangle, the diametric formation, the 5th failure terminal and the 3rd Extension Terminal.
Time plays an important role in its logic: the time duration of pattern segments is used to determine whether or not a pattern has completed. According to the NeoWave logic, a pattern can not take too much or too little time (relative to other phases) to complete. Some traders combine NeoWave with other technical analysis techniques to try and find the best trades.
From price perspective wave E can be bigger than C and it can go to under 1.23.
In addition, time of A & D waves also B & D waves are similar to each other. In diametric 5 waves are similar to each other and 2 waves are different so i think wave E will have lower time like B and C and will end in 1 or 2 weeks.
Also, wave F can have lower time with 600 pips...
Hi guys,
Looks like we have a bearish diametric forming on the BTC 1h chart. Should have one more wave down to complete Wave-F and then Wave-G will be (I'm guessing) very similar to how A/B were, quite flat. If Wave-G doesn't touch the trendline, expect a violent down move as this will constitute a G-wave failure. G wave is just drawn for illustration purposes,...
Hi guys,
I noticed a bearish diametric forming on ETHUSD right now on the daily. It's looking like we probably are in an X-Wave currently and will have one final leg up for Wave-G before the bearish diametric is complete and we move on into another ABC correction and much more downwards motion. Wave-G can have a massive range on it price wise, anywhere likely...
Hi guys,
I've put together three ideas for BTC on the larger TF now that I have been made aware of the BLX historical BTC data and can get a count that makes sense. In fact, I can get three counts that make sense... all with relatively the same outcomes until the end, where they will drastically differ.
First idea, BTC as a regular impulsive series for all of...
Falling of x wave started from the defined area but its not logical that if takes longer time than this.
With breaking out the resistance area of 1430$ a lower time uptrend will bring the price to area of 1500$ and personally im agree with this idea.
With breaking out of important support (1385$) monthly uptrend of gold will be changed to...
Gold needs to complete the cycle now
After breaking the trend line, it should be considered that because of Neo wave reasons(there are two extended waves 3 and 5) , the total return of the pattern is possible. 1260
3 correction waves have been created in wave E untill now.
Completion Time of wave C is very lower than wawe A, if we change the starting point of wave A, completion time of wave C will be around of august and we cannot accept that the sharp move will be the end of the wave.
Also from price perspective, it seems that we will have correction from 1430$ as wave X...
I think Gold is inside a big natural triangle in the daily time frame, for complete wave B of this big natural triangle gold should go down till 1415 $ and from there Gaining power again bulls to start towards 1800 $ for wave C of that big natural triangle. now it is better to wait and let's see this retrac I think can be a Contractile triangle in H1.
NeoWave, 5th Failure + 3rd Extension within Terminals
5th Failure Terminals basically mimic 3rd Extension Impulse patterns.
3rd Extension Terminals
This pattern takes on a strange and difficult to interpret structure that is usually discovered only after its conclusion (or shortly before conclusion if the pattern is large enough). This is what an Extracting...
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.
