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Elliottwaveforecasts

Trading Chaos Part 5 | CorrectionsHello, everyone! Last time we considered the Elliott waves 1-2-3-4-5 cycle. Today we are going to talk about correction types. Corrections contains of 3 waves A-B-C. Bill Williams recommends to trade only Simple Zigzag corrections, but we also should be able to distinguish other types of corrections. Let's go! Simple Zigzag Correction If you find that the corrective Wave A consists of 5 waves there is a high probability that current correction type is simple zigzag. If you decided to trade this correction, you should wait the Wave B end and execute the short trade. How to spot it's end? Find the target zone, usually it is between 50% and 62%, one of the three bars on the top should be the squat bar. Also you should find the fractal on the top.
Education
by Skyrexio
1
GBPAUD, Daily tf, wave-5 to the upsideHello my friends, It's been long since my last post. I was waiting for a really good setup to come to me and finally have one. GBPAUD currently at trend line and MA-200 support right now. Using Elliott wave principles, we might be seeing this pair reverse to the upside as long as it hold above 1.8250. In my opinion we're at the rnd of wave-4 and will start wave-5 to the upside soon. Buy GBPAUD 1.8400 Stop loss 1.8250 Take profit 1.9370 (6.4R) Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
Trading Chaos Part 4 | Elliott WavesHello, everyone! Today we are going to spot the most important and challenging part of Trading Chaos by Bill Williams(BW) – the Elliott waves. This analysis is the most efficient in combination with other techniques of Trading Chaos. Market always moves with the waves and BW developed the conception which eliminate the uncertainty of Elliott Waves. In this article we will consider every wave and explain how to spot their target areas. First of all we need to understand the 5 “magic bullets” which kill the trend. They are: Divergence with the Oscillator Target zone The squat bar at the one of three top bars Fractal at the top Momentum change Today we are goin to consider only the target zone. Other tools we will reveal in the next articles about Trading Chaos. How to spot Wave 1 start? Research the last wave from the previous trend. This should be wave 5 or c. This last wave have the typical structure of waves with less scale. You can use the technique for Wave 5 end defining to spot when trend is finished. How to spot Wave 1 end? Search the 5-waves structure inside the Wave 1. You also should spot the 5-th wave end. Use the 5 “magic bullets” which usually kill the trend.
BITSTAMP:BTCUSDEducation
by Skyrexio
2
Dow Futures (YM): A Double Three Correction Is Taking PlaceShort-term Elliott wave view in Dow Futures ( YM) suggests that the decline from the August 16 high is unfolding as Elliott wave double three structure in a bigger wave ((4)) pullback. Down from there, the decline to $33628 low ended wave (W) in a lesser degree double three structure. Up from there, the wave (X) bounce unfolded as a zigzag structure where wave A ended at $34236 high. Wave B pullback ended at $33638 low and wave C ended in 5 waves structure at $34938 high thus completed wave (X) bounce. Below from there, the decline is unfolding as a lesser degree zigzag structure where wave ((a)) ended at $34121 low. Wave ((b)) ended in 3 swings at a $34554 high. While wave ((c)) is expected to end in between $33686- $33177 area lower. To complete the wave W lower & see a 3 wave recovery in wave X before further downside is seen. Near-term, as far as a pivot from $34938 high stays intact we expect short-term bounces to fail to look for a $32867- $31590 target area lower before the decline from peak gets mature & resume the larger trend.
CBOT_MINI:YM1!
by Elliottwave-Forecast