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Elliottwavecorrection

💨𝙀𝙒 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝙈𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜🌊●●● 𝙈𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜 (Mult.Z) Keep in mind that an triple zigzag is rare ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● A Multiple Zigzag comprise two (or three) single zigzags separated by one (or two) corrective pattern(s) in the opposite direction, labeled X . In the first case, it is called «double zigzag», in the second - «triple zigzag» (The first single zigzag is labeled W , the second Y , and the third, if there is one, Z .) ● Waves W , Y and Z are always single zigzags . ● Wave X never goes beyond the beginning of waves W and Y . ● Wave Y always ends past the end of the W , and wave Z , if any, always ends past the end of the Y . ● The first X wave always ends on the territory of the W wave, the second X , if any, on the territory of the Y wave. ● In a triple zigzag, the first X wave is always a zigzag, flat or combination . The second X wave is always a zigzag, flat , triangle or combination . ● In a double zigzag, wave X is always a zigzag, flat , triangle , or combination . ● Double and triple zigzags replace single zigzags , but cannot appear as W , Y , or Z waves. ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ●In a double zigzag, wave Y can equal wave W , .618 wave W , 1.618 wave W , or .terminate at a distance equal to .618 wave W past wave W . In a triple zigzag, there can be equality among waves W , Y and Z , or wave Z can equal .618 wave Y , 1.618 wave Y , or .terminate at a distance equal to .618 wave Y , past wave Y . In a triple zigzag, the Fibonacci relationships between waves W and Y , would be the same as a double zigzag. ● The Fibonacci relationships between waves W and X in a double zigzag, and waves Y and XX in a triple zigzag are analogous to the relationships between waves A and B in a single zigzag . ● In a double zigzag, as a guideline, wave b of wave Y should not break the trendline that connects the beginning of wave W with the end of wave X . ● As a guideline, wave X (second wave X of the triple zigzag) of a double zigzag should break the trend channel formed by the first zigzag in wave W ( Y ) and be greater than 80% of subwave b of wave W ( Y and Z ). ● When a zigzag appears too small to be the entire wave with respect to the preceding wave (or, if it is to be wave 4 , the preceding wave 2 ), the complication of the structure to a multiple zigzag will probably follow. Elliott Wave Principal 2005 and Q&A EWI .
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
5
💨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
The Cable is Holding OnGBPUSD looks ripe for a turn higher. We've been anticipating for a few weeks a dip in the latter portion of a 4th wave. Now, the dip has come. The bullish outlook for Cable (GBPUSD) is based on prices holding above 1.3483. A print below 1.3483 will create a need to go back to the drawing board for the Elliott wave picture of this market. There are 2 main scenarios I am following. The red labels suggest we are DEEP into the 4th wave with one more dip to finish it off. 1.3630-40 zone is the anticipated reversal point. Once the 4th wave is finished, that means a 5th and final wave to new highs which would be several hundred pips above current levels. The alternate is the blue labels and path. This suggests the recent low was the (c) wave of the 4th wave. This implies an abbreviated (and probably choppy) rally higher before turning lower again. The rally would have a couple of hundred pips in it so it might be tradeable, but likely a bumpy ride. Both scenarios above are valid so long as the price holds above 1.3483. Feel free to post comments or questions below.
Long
by JWagnerFXTrader
BTCUSD - Outlook Mid Day Update 2021.06.06Guys, once again Bitcoin has given everybody the slip. The upwards momentum last evening at the open was not sustained and price proceeded to make a double flat pattern which I have labeled yet again (w)(x)(y). Current price action appears to be making another form of 3 wave pattern to the down side and possibly creating one of the two possible harmonic patterns on the 30 Minute Chart. Either a Bat Pattern ending at 35371.65 or continuing down to 34263.75 to make a Bullish Crab. This is letting us know that the much larger corrective structure is not yet finished. Taking a Sideline Market Position right now may not be a bad idea. Good luck and Safe Trading!
CAPITALCOM:BTCUSD
by AsproTrader
1
IRIS finishing primary correction soon, turning back to impulse?Hi. In this 1D chart I've done a retracement of intermediate Elliott waves and charted the primary waves. I've concluded that a primary correction wave is about to finish. Symbol NASDAQ:SCWX has a similar sector, product and an almost equal Enterprise Value. It's current price is 13.22 $ or 110 SEK. I value $IRIS at around the same price. Thank you. Please if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods. This does not constitute financial advice. Any prices, even if explicitly stated, are presented with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
OMXSTO:IRISLong
by Kabeldon