Elliott Wave background
In the 1930s, R.N Elliott identified the price of the stock trends and reversed a specific pattern. This pattern is repetitive in form and, the patterns have predictive value. He decided to use this pattern (Elliott wave theory) to predict the market. The Elliott wave is not primarily a trading system. It is a detailed description of how...
We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom,
Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns.
I have covered Three chart patterns in this article,
1) Triangles
2) Head and shoulders
3) Double Top and Bottom
1) Head and shoulders:
In addition, the two...
Hi EW Fans,
added some interesting and helpful Fibonacci Numbers in Terms of Elliott Wave from an old Sheet i have found in the Web. You need to switch your Chart and your Fibonacci Tool to Log-Scale.
Greetings
Although Elliott Wave Theory is vast subject and needs in depth study, I'm sharing a cheat sheet for those who have started to learn about the same. This should help them in understanding things better.
Also, try to correlate the cheat sheet with Nifty50 daily chart and be amazed to see how nicely the Elliott wave principles were followed there in the recent...
Elliott Wave Theory Interpretation
The Elliott Wave Theory is interpreted as follows:
Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move.
The underlying 5-3 pattern remains constant, though the time span of each wave may...
Hello, 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...
Hello, 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...
●● Combination ( CMB ): "Double Three"
The SZ (FL) -X-T combination is the most common.
❗❗ Rules
● A "double three" combinations comprise two corrective patterns separated by one corrective pattern in the opposite direction, labeled X . (The first corrective pattern is labeled W , the second Y )
● A "double three" flat combination comprises (in order)...
Overview video on how stocks generally behave and how our Elliottwave Indicator Suite can measure that behaviour to identify high probability 5th Wave Swingtrading opportunities.
$GM General Motors is used in this great example where Paul also discusses managing this 5th wave trade.
In this quick video recap we discuss using our ElliottWave Indicator suite when trading the behaviour of stocks after profit taking pullbacks. As they say, when its trending - its trending. You just need a set of tools to measure the behaviour in a simple and consistent way. ETSY is behaving very well this last 12 months and is a great example of trading the...
Quick video to show how our Elliottwave indicator suite calculates and prints the elliottwave count, the probability pullback zones and the automated 5th wave target zone.
![BTCUSD: Part [A] Basic of Wave Principle](https://s3.tradingview.com/w/wgMqvxCk_mid.png "Part [A] Basic of Wave Principle")
