One idea for BTC Elliott wave count (revised)
Updated
Wave counts corrected.
The uppermost W wave begins with a zigzag whose first part is a diagonal triangle with a thrust, followed by wave X adjacent to wave Y, which is also counted as a triangle.
The whole structure can be counted as a diagonal triangle ABCDE instead of the triple zigzag WXYXZ, in which case a thrust will likely appear at the end of wave E.
Just an idea. Including revisions on previous ideas.
WXYXZ: Elliot triple combo waves (e.g., a triple zigzag )
WXY: Elliot double combo waves (e.g., a double zigzag )
Basic principle:
If a wave is a zigzag, it comprises three waves decomposed as 5-3-5.
If WXY or WXYXZ is a zigzag , W, Y, and Z are each a zigzag .
W, Y, and Z waves can each be a double or triple zigzag .
X wave can be any corrective wave.
Notes:
A complex corrective wave often comprises fractal complex corrective structures.
A triangle RARELY appears in the second wave of an orthodox impulse.
A triangle prevents an equal-sized reversal pattern (a double top, a head-and-shoulders) from forming until it completes.
If a HORIZONTAL triangle seems to have an extended E wave, it should instead be counted as a three-wave structure.
Truncation is not considered in this count.
Gann Square placement is just an idea. Please don't blame me for the number of components.
I applied it this time so X waves or minor corrective movements don't penetrate the arcs.
Warning:
This is just an idea. Another counting would be possible. I don't insist this is the only correct answer.
Before posting meaningless comments (e.g., "so many lines!") or groundless criticism (e.g., "no way!"), or any insulting comments, check your knowledge for counterarguments and read THE ABOVE, relevant textbooks for definitions of any theories and tutorials for the built-in tools.
Any inappropriate posts will be immediately reported.
The uppermost W wave begins with a zigzag whose first part is a diagonal triangle with a thrust, followed by wave X adjacent to wave Y, which is also counted as a triangle.
The whole structure can be counted as a diagonal triangle ABCDE instead of the triple zigzag WXYXZ, in which case a thrust will likely appear at the end of wave E.
Just an idea. Including revisions on previous ideas.
WXYXZ: Elliot triple combo waves (e.g., a triple zigzag )
WXY: Elliot double combo waves (e.g., a double zigzag )
Basic principle:
If a wave is a zigzag, it comprises three waves decomposed as 5-3-5.
If WXY or WXYXZ is a zigzag , W, Y, and Z are each a zigzag .
W, Y, and Z waves can each be a double or triple zigzag .
X wave can be any corrective wave.
Notes:
A complex corrective wave often comprises fractal complex corrective structures.
A triangle RARELY appears in the second wave of an orthodox impulse.
A triangle prevents an equal-sized reversal pattern (a double top, a head-and-shoulders) from forming until it completes.
If a HORIZONTAL triangle seems to have an extended E wave, it should instead be counted as a three-wave structure.
Truncation is not considered in this count.
Gann Square placement is just an idea. Please don't blame me for the number of components.
I applied it this time so X waves or minor corrective movements don't penetrate the arcs.
Warning:
This is just an idea. Another counting would be possible. I don't insist this is the only correct answer.
Before posting meaningless comments (e.g., "so many lines!") or groundless criticism (e.g., "no way!"), or any insulting comments, check your knowledge for counterarguments and read THE ABOVE, relevant textbooks for definitions of any theories and tutorials for the built-in tools.
Any inappropriate posts will be immediately reported.
Note
Fuether correction.
Wave Y must have been of a three-wave structure.
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