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Zigzagpattern

Education chart - SIMPLE ZIGZAGS in WXY DOUBLE ZIGZAGI started to assemble own ibrary of ElliottWave patterns and rules. Here simple zigzags occured in: wave W and wave Y of WXY double zigzag Zigzag 1 - wave W Wave A - leading diagonal Wave B - double zigzag Wave C - ending expanding diagonal ending at the top line of the parrallel channel Zigzag 2 - wave Y Wave A - impulse Wave B - double zigzag Wave C - ending expanding diagonal ending at the middle of the parrallel channel ----------------------------------------- ## Rules for Simple ZigZag - Subdivide into three waves. - Wave A is always an impulse or leading diagonal (expanding or contracting) - Wave C is always an impulse or ending diagonal (expanding or contracting). - Wave B is any corrective pattern. - Wave B never moves beyond Wave A start - Wave B always ends in Wave A territory - Wave A and C cannot be both diagonals of the same type (contracting/contracting or expanding/expanding), other combinations are possible ## Norms - Waves A and C are frequently impulse waves but even more often they alternate between impulse and diagonal modes. Waves A and C may occasionally alternate between contracting and expanding diagonals - Waves A and C cannot be diagonals of the same type - Wave C must travel past Wave A's top. In Elliott Wave Theory, failure to do so is referred to as truncation - Wave C should not go below 90% of Wave A ## Guidelines - Wave C is typically equal to 0.618 (occasionally 1.618 or 2.618) of wave A - Wave B typically retraces 38-79% of Wave A - in case B is a triangle it retraces **38-50%** of Wave A - in case B is a running triangle, the retracement can be **10-40%** - in case B is zigzag, the expected retracement is **50-79%** - The parallel channel that connects Wave A's start and Wave B's finish may provide a hint of where Wave C might conclude by extrapolating the other line from Wave A's end - If waves A and C are both strong, wave C will reverse at the channel's top line - If wave C appears weaker than wave A, it may reverse at the channel's middle - If Wave C performs stronger than A, a double channel will be used as a target of the reversal point. ## Occurs in Wave 2 Wave 4 (unless happened in wave 2) Wave W, Y of WXY double zigzag Wave W or Y of a combination Wave B of ABC flat Waves 1, 2, 3, 4, 5 in contracting diagonal Wave B of ABC zigzag Wave X of WXY double zigzag
TVC:USOILEducation
by Energeia_Charta
3
📉📈 ZigZag IndicatorZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes. ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings. ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item. It is only based on hindsight and is not predictive in any way. It is based on the past prices of securities and cannot forecast the next swing highs and swing lows. 🟢Advantages It eliminates market noise and displays the most significant price fluctuations. It operates in several timeframes. When utilized in cooperation with other technical indicators, it gives positive results. 🔴Disadvantages It will mark the latest high or low of the price with a time lag. The last stretch of the indicator (the one that involves the current price) may be redrawn. Not predictive in any way, has to be used in combination of other strategies to be effective. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow
Education
by QuantVue
Zigzags (5-3-5) on BTCUSDZigzags (5-3-5) Zigzags and their complex combinations are the only corrective patterns which can temporarily “resemble” Impulsive patterns. To avoid misinterpretation, very specific limits must be placed on zigzag behavior. Below are the minimum requirements which allow a pattern to be categorized as a zigzag: The A-wave should not retrace more than 61.8% of the previous impulse wave of one larger degree (if present). The B-wave should retrace at least 1% of wave A. Wave-C should move, even if only slightly, beyond the end of wave A. If the wave group has followed these three minimum parameters, it is time to check to adherence to the maximum limits imposed on the B-wave of a zigzag: No part of wave B should retrace more than 61.8% of wave A. If a part of wave B retraces more than 61.8% of wave A, that part will not be the end of wave B. It is likely to be the first segment of a more complex correction for wave B. The end of wave B will complete at 61.8% of wave A or less. The deciding factor for categorizing a zigzag formation is the length of the C-wave: If the C-wave is less than 61.8% of wave A, this is a truncated zigzag. If the C-wave is between 61.8% and 161.8% of wave A (inclusive), this is a normal zigzag. If the C-wave is more than 161.8% of wave A this an elongated zigzag (be careful with this pattern, it could be part of an impulse wave). Truncated zigzag This is quite a rare zigzag variation. To be justified, this formation must meet the following criteria: Wave C cannot be shorter than 38.2% of wave A but should be less than 61.8% of wave A. After completion of the zigzag, the market must retrace at least 81% of the entire zigzag, and preferably, it should retrace 100% or more. This will confirm the counter-trend strength indicated by the extremely short C- wave. A truncated zigzag will most likely be found as one of the five sub-waves of a Triangle, oras a segment of one of the sub-waves of a Triangle Normal zigzag In a normal zigzag, the C-wave can be from 61.8% to 161.8% of wave A. To identify this pattern, it should satisfy the below conditions: Wave B must not retrace more than 61.8% of wave A. Wave C should be at least 61.8% but less than 161.8% of wave A. Elongated zigzag An elongated zigzag is characterized by an oversized C-wave, that is why it temporarily resemble impulsive activity. An elongated zigzag is the best imitator of impulsive behavior. This makes them very difficult to recognize while they are unfolding. Usually, they can be only confirmed after they have completed. When the third wave in a sequence is more than 161.8% of the first wave, the pattern is likely to be the first three waves in a five-wave impulse, rather than an elongated zigzag. The retracement following the third wave helps to decide between the two different patterns. After an elongated zigzag, the price should reverse and retrace more than 61.8% of the C-wave before the end of the C-wave is exceeded. If these conditions are met, the pattern is likely to be an elongated zigzag, if the conditions are not met, there is likely to be forming an impulse pattern.
COINBASE:BTCUSDEducation
by behzadasghari1
1
💨𝙀𝙒 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜🌊●●● 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜 (SZ or ZZ) ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● A zigzag always subdivides into three waves. ● Wave A always subdivides into an impulse or leading diagonal . ● Wave C always subdivides into an impulse or ending diagonal . ● Wave B always subdivides into a zigzag, flat , triangle or combination thereof . ● Wave B never moves beyond the start of wave A . ● Wave B always ends within the price territory of wave A . ● Wave C almost always ends beyond the end of wave A . (failure to comply with this requirement is called «truncation» * * Guideline, but should be followed as a rule ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● Wave C should not fail to reach the end of wave A by more than 10% of the length of wave A . ● In a zigzag, the length of wave C is usually equal to that of wave A , although it is not uncommonly 1.618 or .618 times the length of wave A (rarely 2.618 ) ● Wave B typically retraces 38 to 79 percent of wave A . ● If wave B is a contracting triangle, it will typically retrace 38 to 50 percent of wave A . ● If wave B is a running contracting triangle , it will typically retrace between 10 and 40 percent of wave A . ● If wave B is a zigzag, it will typically retrace 50 to 79 percent of wave A . ● In a zigzag, if wave A is a leading diagonal , then we would not expect to see an ending diagonal for wave C . ● A line connecting the ends of waves A and C is often parallel to a line connecting the end of wave B and the start of wave A . (Forecasting guideline: Wave C often ends upon reaching a line drawn from the end of wave A that is parallel to a line connecting the start of wave A and the end of wave B .) Elliott Wave Principal 2005 and Q&A EWI.
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
4
how to apply fib channels and auto fib channels studyThe Fibonacci Channel is a technical analysis tool that is used to estimate support and resistance levels based on the Fibonacci numbers. It is a variation of the Fibonacci retracement tool, except with the channel the lines run diagonally rather than horizontally. The tool is used to aid in identifying where support and resistance may develop in the future. If the uptrend is expected to continue, the 100%, 161.8%, and other higher levels are potential price targets. The same concept applies to downtrends if a downtrend is expected to continue In an uptrend, the zero-line is like a normal trendline, helping to assess the overall trend direction. If the price falls below it, it may need to be adjusted based on more recent price action, or it could signal that the uptrend is over and that the price is breaking lower. Similarly in a downtrend, the zero-line also acts like a trendline. When the price is below it, it helps confirm the downtrend. If the price moves above it, the indicator may need to be redrawn or the price is moving higher out of its downtrend Difference Between Fibonacci Channels and Andrew's Pitchfork Both these indicators attempt to predict future support and resistance levels based on price levels from the past. Fibonacci channels attempt to do this with percentages of a selected price move. Those percentages are then projected out into the future. Andrew's Pitchfork is simpler in some ways as the angled lines are based on three price levels selected the trader and then extended out into the future. Step By Step Applying Fibonacci Channels Auto Fib Channels ʙʏ DGT ☼☾ LINK to Auto Fib Channels ʙʏ DGT ☼☾
Education
by dgtrd
178