Elliotwaveanalysis
📍 Part 4. Corrective Waves- Simple Zigzags - Sharp Corrections.👩🏻💻 Welcome to the 4th lecture on Elliott Waves!
➡️In this lecture, we will start discussing the variations for corrective movements. Let's begin with the simplest one - it's zigzags.
➡️By correction, we mean the construction "ABC" after an impulse. This reminds us of a zigzag, hence the name. Also, we can encounter it in each corrective wave, that is, "2" and "4" - it's the simplest and most common form of correction.
➡️As you recall from previous lectures, for waves "A" and "C," there are variations in the form of Leading and Ending Diagonals, and the same applies to "B," namely flat, zigzag, triangle, or even a combination, i.e., any three-wave pattern. Here it's worth remembering that wave structure is fractal, and there's no need to be afraid, just like with variations for impulses, namely leading and ending diagonals.
➡️Zigzags can often be embedded into a parallel channel. We've dealt with a simple zigzag. Most likely, your main questions are about variations for "B": flat, zigzag, triangle, or combination. On the cover of the learning materials, you will find the main variations of simple zigzags. Keep and use them!
📍 Let's look at the main rules and guidelines! 📍
📍 Guidelines: 📍
📍In a zigzag, wavelength "C" can be equal to wavelength "A".
📍Wave "B" is usually corrected at 38.2% - 78.6% of the length of wave "A".
📍If wave "B" is a triangle, is usually corrected at 38,2% - 50% of the length of wave "A".
📍If wave "B" is a zigzag, is usually corrected at 50% - 78.6% 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".)
📍Waves "A" and "C" within the zigzag often appear in the form of impulses, but more often alternate according to the type of motive waves: if wave "A" is an impulse, expect wave "C" in the form of a diagonal, and vice versa. It is much less common to find waves "A" and "C" in the form of diagonals.
Thank you for your attention! There will be another lecture next week! Don't miss it!
🔔 Links to other lessons in related ideas. 🔔
Hellena | Oil (4H): Short to support area 80.22.Colleagues, the price has redrawn the waves a bit, I was waiting for it and at the moment I assume that the price may update the wave "C", then I expect the price to decline to the support area of 80.22. This movement should update the minimum of the wave "B", then I will make a markdown and expect an upward movement, but for now I am considering only short positions.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
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
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## 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
DOGE Fractal: Following THIS Pattern? 📉Hi Traders, Investors and Speculators of Charts📈
Dogecoin was one of my TOP altcoins to watch for 2024. (Find the others here):
Doge has been following an interesting pattern recently in the daily timeframe - Elliot Waves. We see the 5 impulse waves up (wave1-5) followed by the abc correction waves. Then we have a period of range bound trading finally before the next wave1-5 starts. Here's where it get's technical in terms of the wave fractal:
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BINANCE:DOGEUSDT
Bitcoin Slows Down At 70k As Nvidia Keeps ConsolidatingHey guys,
Cryptos are bullish no doubt, but I am just wondering if 70k on bitcoin, will be strong resistance in the short-term, now when NVIDIA is coming down a bit. I see nice support for NVIDIA near 800. Not sure if we will see this level, but it looks like that correction on stock is not finished yet, so possibly there will be a delay on new break higher on cryptos if stocks would really pull back for end of the month and end of the quarter flows. Also, dont forget on the Easter holidays which can certainly have an impact on the markets.
Let me know if you like the video please in the comments below, or what you want me to cover in next updates.
Thx,
Grega
Nifty near to complete correction and at LS KinkNifty is near to complete correction or major B and as per price action also price reached at origin LS Kink. this whole up move is just a correction of previous fall (A) already nifty completed it 5th wave with ending diagonal and this whole correction of ABC is due. Now it looks like B is completed and C will start and it will ne sharp fall as A .
BITCOIN can ascend further ! What Shall we Expect ?Hi.
COINEX:BTCUSDT
✅Today, I want to analyze BTC for you in a 4H time frame so that we can have a Short-term view of BTC regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts).
As you can see, BITCOIN is in an ascending channel and also recently managed to break the ascending triangle, if the price follows this pattern AB=CD will happen and the price will grow to top of the channel.
✅ Due to the Ascending structure of the chart...
🟢 High potential areas are clear in the chart.
🟢 Ascending Triangle
🟢 bullish channel
➡️ Note if the PRZ is broken downwards with the strength of Bearish candles or , this analysis of ours will be failed.
Stay awesome my friends.
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
AUDUSD: Bearish Triangle Pointing Lower, Dovish RBA? During the overnight Asian session, there was a release of Australian CPI data, indicating that inflation remains stable at 3.4%, which is slightly below the expected 3.5%. Consequently, we can anticipate that this news could potentially drive the Aussie lower on maybe dovish RBA, who may try to follow other dovish CBs.
From an Elliott wave perspective, we are tracking bearish pattern; its an A-B-C-D-E, possibly in already late stages. However, the ideal resistance for a wave E could still be a bit higher, around 0.6580 or so. Nevertheless, if we witness a break below 0.65, I believe that the decline could immediately resume toward the lows seen in March.
Grega
Litecoin (LTC): Target 1 hit! ...what's next?Hi Traders!
The Trend returned to bullish on the daily chart and our setup worked correctly reaching Target 1 around 102.00 area (see chart below). That said, if Litecoin manages to hold the supports shown on the chart, we still expect an interesting bullish continuation with our new Target 1 around the 130 area. With this in mind, we do not rule out some corrective structure in the near term, but if it happens it should be considered as a Buy Opportunity. As we can see on the daily chart, we are approaching the first major resistance around 108 area, if it wants to break it, it should do so within a couple of sessions.
Litecoin Setup (Part. I)
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Honestly, I don't feel like explaining, the chart says it all !!Hi.
BINANCE:ADAUSDT
Honestly, I don't feel like explaining because the chart says it all.
Stay awesome my friends.
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
📍Part 3. Motive Waves - Leading & Ending Diagonals.👩🏻💻Welcome to the 3nd lecture on Elliott Waves!
➡️In this lecture, I will talk about the Leading and Ending diagonals as the primary and most common variations of impulsive waves. We will also touch on the Expanding diagonal, which occurs significantly less frequently. Earlier, we covered the general concept of impulse and its structure. Now, I will specifically discuss the variations of impulses and, namely, for waves "1", "5", as well as corrective waves "A" and "C".
➡️Let's start with variations for the first wave in the impulse and correction. This is the Leading diagonal. This structure may remind you of an ascending triangle, and essentially, that's what it is. The first wave itself implies that before this, we were moving in the opposite direction. So, if wave 1 is ascending, it means there was a certain descending movement before it. And it's obvious that in this descending movement, sales prevailed. Thus, reversing the price in the opposite direction may not be so easy. In such cases, when it's not easy, we get not a sharp 5-wave impulse but a Leading diagonal, where conditional buyers, as it were, chew their way upwards.
➡️Next, of course, there is correction and further growth. The Leading diagonal can also be encountered in wave a of correction "ABC". And here, the logic remains the same since the correction goes in the opposite direction of the trend; we have significant support for demand. In our example, this is an ascending trend. Therefore, we don't get a sharp impulse, but gradually, and squeezing, which forms the structure of the Leading diagonal.
➡️As you already understand, waves "2" or "4" also have a correctional structure "ABC", where "A" can also be a Leading diagonal. And then, you can encounter the Leading diagonal in wave "1" and in wave "A", and since they reverse the direction of movement, the structure is not formed like a sharp impulse but more like an ascending triangle in the case of wave "1" and a descending triangle in the case of corrective wave "A".
➡️Moving on to the Ending diagonals. You can get them in wave "5" and wave c in the corrective structure "ABC". Here the principle is similar, as you might have guessed, to the case of wave "5". We see how the ascending movement fades, as if the buyers no longer have the strength to move the price, impulsively upwards, I remind you, we are considering an example of an ascending trend movement.
➡️You can encounter the Ending diagonal in wave "5" and wave "C". It turns out everything is quite logical and simple. Wave "1" starts the impulse, and wave "A" starts the correction. Wave "1" starts the impulse, and wave "A" starts the correction. In turn, wave "5" completes the impulse, and wave "C" completes the correction.
➡️Well, now we need to understand the rules for the Leading and Ending diagonals to determine them correctly.
➡️Now let's look at the rules separately for Contracting diagonals!
📍 Rules 📍
📍In the contracting variety, wave "3" is always shorter than wave "1", wave "4" is always shorter than wave "2", and wave "5" is always shorter than wave "3" (1 > 3 > 5 and 2 > 4).
📍Going forward in time, a line connecting the ends of waves 2 and 4 converges towards with the line connecting the ends of waves "1" and "3".
📍 Guidelines 📍
📍In the contracting variety, wave "5" ends beyond the end of wave "3" (only for the Leading diagonals).
📍In the contracting variety, wave "5" ends beyond the end of wave "3" or does not reach the end of wave "3": truncation (only for the Ending diagonals).
📍In the contracting variety, wave "5" usually ends at or slightly beyond a line that connects the ends of waves "1" and "3" (Ending beyond that line is called a throw-over).
📣This concludes the lecture on impulse waves. Save the images and practice.
Next week I'll talking about the Corrective Waves - Simple - Sharp Corrections.
🔔 Links to other lessons in related ideas. 🔔
Multi timeframe analysis weekly to 5 minutesMulti timeframe analysis weekly to 5 minutes
Analysis is based on Ichimoku, and Elliot waves. Confirmation is done by other indicators such as MACD, stochastic RSI, OBV, and RedK Everex.
Watch the video idea to have the full picture of the stock under analysis.
watch the video for more details
Disclaimer:
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
There are risks associated with investing in stocks, and might involve risk of loss. Loss of principal is possible. Investors should note that past performance is not a guarantee of future returns. The investment value may be affected by market fluctuations.
The stocks mentioned here are not equivalent to, nor should it be treated as a substitute for, time deposit or any other form of saving deposits.
Investment in the securities of smaller companies can involve greater risk than is generally associated with investment in larger, more established companies that can result in significant capital losses.
Multi timeframe analysis weekly to 5 minutesAnalysis is based on Ichimoku, and Elliot waves. Confirmation is done by other indicators such as MACD, stochastic RSI, OBV, and RedK Everex. HeatMap & Stock screener are presented.
Watch the video idea to have the full picture of the stock under analysis.
watch the video for more details
Disclaimer:
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
There are risks associated with investing in stocks, and might involve risk of loss. Loss of principal is possible. Investors should note that past performance is not a guarantee of future returns. The investment value may be affected by market fluctuations.
The stocks mentioned here are not equivalent to, nor should it be treated as a substitute for, time deposit or any other form of saving deposits.
Investment in the securities of smaller companies can involve greater risk than is generally associated with investment in larger, more established companies that can result in significant capital losses.
RIPPLE (XRP): Daily Chart | Technical AnalysisHi Traders!
XRP Coin has not yet experienced the splendor like other Cryptocurrencies, and this is certainly one of the reasons why we are following Ripple, the second reason, and maybe the most important one, is attributable to the technical structure on the daily chart. A few weeks ago we published a potential bullish harmonic structure on the 8H chart (see chart below) which currently still remains valid. At the same time, we have been looking for potential support and resistance areas (0.51 and 0.72), so we cannot yet rule out a bearish consolidation in the near term, but if this happens it should be considered an opportunity to add long positions. As we have already said in the previous analysis, we have two bullish Targets, but certainly the 1.40 area should be reached in the medium term. From our point of view, the bullish reaction from the previous bottom is not impulsive, it looks much more like a corrective structure (ABC for example), so further updates will be necessary. That said, help us reach at least 50 Likes so we can feel free to post new updates as soon as possible below.
In conclusion, the best strategy for Day Traders is very simple, buy, buy and... buy on depth!
🔴 HARMONIC STRUCTURE ANALYSIS:
(Click on Chart below)
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BTC Correction- 1st PhaseSimple Wave Analysis
This is a clear indication of a 3-3-5 Wave. Specifically a Expanding Flat Wave.
These waves are notorious for trapping traders and this one is a massive one.
When the Impulse wave ended at approx. 47k. The 1st WAVE A of the 3-3-5 Expanding Flat Wave began. We got 3 waves down to support line 38.5k. Then WAVE B (which is the extended wave ran up to 51.3k. We know this is an extended wave because it retrace to 1.618 Fib of WAVE A. This marks the broadening top we see right now. From here (and by RULE) Wave C must be a 5 wave way correction downside that extends past the bottom of WAVE A. This means price action will have to go AT A MINIMUM BELOW 38.5k.
It is my opinion that this 1st 5 wave is just the start of a bigger 5-3-5 wave. Meaning this leg will take us down below 38.5K (maybe further).. there will be a temp retracement upside and then a potentially bigger downward correction to possible finish and find the bottom. This correction will be big, but it will give many the opportunity to get back into BTC at a lower price.
The Bitcoin ETF was IMO a way of getting the masses into BTC on hype- directly at the top of this correction, only to have their investments wiped. The best bet is to hold if you have physical BTC. Its going to be a wild ride down, but hopefully this will help inform many. The BULL RUN is clearly over.
GOLD, 2088 should be holding for the momentHello everyone,
price action in Gold continues to be very strange and we saw a significant move to the upside after a bear trap formed below 2000. The move went directly to the 2088 resistance (and orderblock) and a correction from the local overbought conditions is likely.
The elliot wave count at this stage is very unclear, but I left my count on the chart. It's still possible to break down again towards lower price targets in the 19xx area. At this moment it's not clear at all for me.
I would like to see your comments and wave counts below, so feel free to share.
Ttrak (Türk Traktör) Flat CorrectionThis could be one of the strong possibilities out there...
Don't know what could be the factor or news but after comleting last up move to finish wave B of a flat we can expect strong impulsive C wave to complete Wave 4.
NASDAQ, expect a top to be built at 18kHello everyone,
I've been watching NASDAQ closely as I expect to end an elliot wave count around the 18k area.
If the level will be reached soon the chance for a correctional move is high, where we could anticipate in.
To make it short, the psychological level of 18.000 will be very interesting, but there is also the channel trendline above, that should form strong resistance. I usually work with several positions, the cyan tringle area will be used for shorting.
I will keep you updated about further actions.
EURUSD: Rebound in short term?Hi Traders!
During yesterday’s session we saw strong bearish pressure on the EURUSD pair in stark contrast to our view. Having said that, the trend has returned bearish on the intraday chart, but during today’s session we do not rule out a reversal or at least a technical bounce, let’s see what will happen during the last weekly session.
If this does not happen during today's session, the bullish movement will most likely appear during the first half of next week. Continue to follow us and support our ideas for new updates.
Trade with care
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GBPUSD | Intraday Analysis: New Top is coming?Hi Traders!
From a technical point of view, the trend is still bullish on the intraday chart and the pair should trigger a new Top in the short term. Having said that, it is currently unclear how GBPUSD will develop the next swing, it could be an ABC or ABCDE Pattern as shown on chart. Most likely, tomorrow's session will be our main driver.
Trade with care
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DKNG - 3rd Wave in progress If DKNG can break and hold 40 level, it can continue its momentum to the upside.
Entry- 40
Stop loss- 32
There is a gap below, if it pulls back to fill the gap around 35, will add more.
Target #1 53
Target #2 60
