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Elliottwavecorrection

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
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
Square - Elliott waves | Gann | Planetary Aspects $SQSQ has topped out on 5 AUG, perfectly closing at Gann level 284. Price has since formed a series of corrective ABC patterns and bounced off the 20 week MA on 13 SEP. Square is currently approaching Gann level 267, with the 5th wave coming to completion (green count). The blue box is also the 50-60% retracement area of Wave (a), where sellers may step in. If SQ stalls in this area, we may prepare ideas for the next short exposure to participate in wave (c). A target could then be Gann level 206. (Wave (a) encompassed 3 levels, wave (c) may encompass 4 levels to complete 7 Gann levels, the cycle number). Correlations: BTC performed a bullish reversal after completing 5 waves down. Two constellations on 22 SEP, Sun square natal Venus and trine natal Jupiter, promised an expansion of bullish volatility and we were not disappointed. However a retracement is due and that may potentially give us wave (c) in SQ. If BTC continues to rally, a drop in SQ becomes more unlikely and we may see a phase of contraction instead. As major stocks are completing a wave B, markets are likely to remain choppy and volatile before we see the next move unfold. ______________ In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range). Get a 14 Days Free Trial: www.constellations.trade Open an account here if you'd like to support my work: Deribit - Trade Bitcoin option premium decay strategies here: www.deribit.com Binance - 10% off trading fees with this link: accounts.binance.me STO = sell to open BTC = buy to close BTO = buy to open STC = sell to close These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice. Disclaimer: The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
NYSE:SQShort
by UnknownUnicorn12250317
An unique Elliott wave forecast for Gold 60 minutes timeframeJust simple flat correction was done with wave c same length as wave a. Next week, if price break below 1782 level, Gold could make a Zig Zag correction in higher degree. There're some key level below like: 1773, 1759,... We need to wait for confirmation from price action. And then i'll update this Gold Elliott wave forecast. See previous post here: First 5 waves in this chart: Attention!! This is my idea and projection using Elliott waves. I often trade with price action confirmation You need your plan and manage your risk strictly. Trafe safe! Follow to update and discuss more below !
FX:XAUUSD
by UnknownUnicorn23499361
2
UNI/USDT { bullish bearish expanding triangle pattern }!!!!Hello Dear Traders! There are two possibilities: 1_ The correction wave is likely to be three-part = { ABC} and then the impulse wave begins and finally experience the rising price. 2_ the correction wave is ABCDE and then the impulse wave and then we'll see the price drop. Tomorrow and the day after tomorrow will make future events clearer BINANCE:UNIUSDT what's your idea, Leave a comment and share your idea. thanks 🙏🌹
by Donvito84