Understanding Elliott Wave Structures (Educational)Basically Elliott Wave rules state that the market moves in a series of 5 and 3 Waves.
Here we are going to take a look at the basic 5 Wave structure and general fibonacci rations that come into play with these Waves.
As you can see in the main picture that we have a 5 Wave down movement which has all the ideal fibonacci ratios.
Elliott Wave
ETHEREUM / D1 : Sinewave & Elliot suggests TP but still bullishCombined Elliott wave analysis and cycle analysis through PRO Sinewave (beta) both tend to confirm a TP area nearby the current prices which would mean the end of subwave 3 of our supposed last impulse (V) that is our extended wave. Which means that we may still have a final 5th wave to complete on the subcount in order to finish this cycle. Anyhow bulls must get out at that point and wait for retracement to eventually jump in again for the final wave 5 call.
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/comment/follow if you feel like it deserve it ;)
[EW COURSE] FLAT CORRECTIONTYPES FLAT CORRECTION WAVES:
There are three predominant types of flat corrective waves. These include:
Expanded flat: This is arguably the most common flat wave formation and occurs in the second and fourth wave of an impulse wave. What connects the expanded wave to the initial impulse wave is a zigzag or other types of triple or double connection. In a bullish market, the price of the underlying asset moves against the trend to form a 3-wave shape. In an expanded flat wave, wave B also appears in a 3-wave structure and goes beyond the start of wave A, while wave C extends beyond the end of wave A. The expanded wave is also known as an irregular flat although this term can be misleading as the expanded wave appears more often than other types of waves.
Regular flat: In a regular flat correction, wave B ends slightly at the start of the wave A while wave C ends just beyond the end of wave A.
Running flat: A running flat wave is a 3-3-5 wave. Here, wave B terminates past the start of A wave and C stops almost close to the end of wave A. The formation of a running flat is quite rare. The difference between the expanded flat and the running flat is the point at which wave C stops. In an expanded flat, Wave C ends beyond the end of wave A.
All in all, each type of corrective flat is essentially an ABC wave with a 3-3-5 sub-waves or configuration. It is also important to note that these types of corrective flats go against the trend of the impulse wave, one degree higher.
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HARMONIC CORRELATION
HOW TO TRADE WITH CHANNELChannel strategy is a simple and complicate strategy.
A. Using it with Elliot Wave to follow a trend.
Follow the trend by "buy low, selling high".
B. Find a new turnover trend by a channel retest.
C. Find a continue wave by a sideways channel breaking
through.
Risk Management:
A. REWARD/RISH >1.5
B. Risk <2%
C. Move SL to TP1 or TP2 to protect your profit
Elliott Wave Chart Patterns and Classical Chart Patterns Hi fellows, We have some Elliott Wave Chart Patterns and Classical Chart Patterns. Both Looks like same but when it comes to live market. Both behave slightly different . Although there is not a big difference according to my opinion But when it comes to enter in the market then both behaves slightly different.
[EW COURSE] LEANDING DIAGONAL TRIANGLESThe diagonal triangle is a particular type of wave composed of Five minor movements that move within two trendlines, both ascending (or descending), converging in the direction of main trend.
Diagonal triangles substitute for impulses at specific locations in the wave structure. They are the only five-wave structures in the direction of the main trend within which Wave 4 almost always moves into the price territory of (i.e., overlaps) Wave 1.
This pattern we like very much!! ...and we use it on 30' and H1 TF.
Thank you very much for your support, and we hope this analysis can help you in your Trading Plan!!
...support us with your "ILIKE"!! Happy Trading!!
[EW COURSE] RATIO ANALYSIS (impulsive)Sequence of Impulsive Waves (12345 bullish). These are 8 Fibo/Ratio we use in our analysis/setup.
From a technical point of view (guidelines), traders try to:
=> take Long Position on Wave 2 (38%/61.8% W1)
=> and Stop below Wave 1 (close bar)
=> take Long Position on Wave 4 (38%/50% W3)
=> and Stop below Point 1 (close bar)
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GLOSSARY
[EW COURSE] GLOSSARYStarting this week, we will begin the Elliott's Basic Course. Our main goal is to understand the strategy, and how it can adapt to every Trader Profile. To do this, we will not need to explain any "under-wave" detail, but we will need to understand support levels and target waves, for our Trading Plan (setup).
Before you start, this "glossary" will be useful throughout our journey.
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Elliott Wave Tutorial Update 4/14/17This is an update to my 4/5/17 post in which two downside targets were listed.
The SPX had a bulls-eye hit of the first target at 2337.30 the subsequent rally did not last and as of the close 4/13/17 the SPX was just below the 2nd target of 2329.80. This is where the supposed Minute wave "c" is .618 of Minute wave "a".
Bullish factor: Decline from 2378.70 is choppy with a lot of overlap.
Bearish factor: 60 minute RSI still has no bullish divergence.
Any long weekend increases the chances of event risk.
Within the last week the US has launched 59 Cruise missiles and has dropped the "Mother of all Bombs"
If the US attacks North Korea it is not factored in the stock markets and is bearish.
If China invades North Korea it is not factored in the stock markets and is bullish.
A break below SPX 2322.30 will open the door to 2300- 2280.
Mark
Elliott Wave Tutorial 4/5/17Minor wave 4 could still be under construction, taking the form of a Horizontal Triangle. (see" Elliott Wave Principle" pages 48- 50)
Both Minute waves "a" and "b" have taken the form of Double Zigzags under the guideline for alternation we can expect Minute wave "c" to take the form of a Single Zigzag.
Minute wave "b" has no Fibonacci relationship with Minute wave "a", therefore if a Horizontal Triangle is forming there will be Fib relationships between adjacent waves. Wave "a" will be related to wave "c". Wave "b" will be related to wave "d".
Minute wave "a" = 78.70 x .618 = 48.60
78.70 x .50 = 39.40
Minute wave "b" = 2378.40 - 39.40 = 2339.00 this is the most likely place for a bottom because there is chart support in the 2340 to 2337 area.
2378.40 - 48.60 = 2329.80 is the less likely target.
Friday 4/7/17 is the best day for the bottom.
Mark
(EDUCATIONAL) FLAT Rules (Lesson #4) Elliott Wave PrincipleHello Traders:
This is All FLAT Rules (Corrective Waves) so if you've LEARNED something less from it then please LIKE and FOLLOW for more EDUCATIONAL Ideas.
NEXT Lesson: (Contracting Triangle).
If you are NEW to my FREE Educational program then go to my profile and see other LESSONS as well.
If you have any Question fell free to ASK .
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(EDUCATIONAL) Corrective Waves (ZIGZAG) (Lesson #3)Hello Traders :
(Elliott Wave Principle)
Finally we have finished MOTIVE Waves ...
if you are NEW, go to my profile and see other (EDUCATIONAL) RULES of Elliott Wave Principle.
Next LESSON: (FLAT) Rules...
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and THANK YOU Guys for Pushing me Forward
Love you all
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(EDUCATIONAL) All IMPULSE Rules (Lesson #1)Hello Traders:
As I told I've started a course to Educate Elliott Wave Principle
and this is the 1st Lesson I hope you learned something less from it
and if you are Interested to Learn more Rules like:(Diagonal, Zigzag, Flat, Triangle and Combo) so Follow me and please LIKE for MOTIVATING me to Draw the other RULES
Thanks alot:
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(EDUCATIONAL) LEARN Elliott Wave Principle FREEHello Traders:
I've Started this course because when I first started Learning Elliott Wave Principle I needed someone to guide me as now I am Guiding you guys
so I hope you learn something less from me, I will be very happy for helping you guys
I am not a professional and also I am not GOOD in English I know that haha if I made any mistake so please forgive your little brother
I wanted to FIT all 11 Rules of Impulse in this CHART but cause of some technical problems I couldn't FIT all of the Rules so take this Chart as a Trailer and follow me for more Educational charts and please don't forget to Like cause there is always someone who want to learn something new about this MARKET, if you like this Chart so they can also see this Chart in their ( Trending ) page
fell free to ask questions
if my English and knowledge reaches the level of your question I will be very glad to help you guys
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Educational post explaining Short, Medium, longer terms trades..Hi fellows, This post explain that patterns forms with in the patterns and you can trade on them for short term, medium terms and longer terms.
1. SHORT TERM TRADE SETUP
( You can buy sell by identifying the lower degree pattern on smaller time frame like 15 minutes for daily ranges.Fore example flat channel with in the bigger channel which you can see after impulse )
2. MEDIUM TERM TRADE SETUP
( You can buy sell by identifying the bigger degree pattern and you can trade with in that bigger degree pattern for medium term and that trade setup gonna on 1 hr or on 4hr time frame and can take up to couple of days to complete )
3. LONGER TERM TRADE SETUP
( You can buy sell by identifying the bigger degree pattern but that trade setup gonna be for holding position for longer term and it can take up to couple of weeks or months to complete normally these kind of trades are being taken by traders on daily time frame by digging out the lower time frame at best price )
For further details please look at the chart...........!!!!!!!!!!!!