💨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.
Elliottwavecorrection
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.
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!
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.
AfterPay - Price action needs to hold this level of support !!The APT price action is desperately looking for support and a pretty obvious elliott wave ABC correction is in play. Chart is suggesting APT needs to hold this level or we could see further falls down to the $70 level or even lower. Also H&S pattern is in play. Just an observation take with a grain of salt.
Magic TA: The future is predicted magically!Earlier was the first to published an idea about BTC is not gonna break ATH 61800 at this point of time, instead will need a price correction before 72k! According to the observation of recent days, it is confirmed to be riding on the price correction wave. It would be a huge retracement according to the principle of elliott wave. However, after a while I've seen many analyser posted the similar chart.
My philosophy is always "sell when people buy, buy when the others sell".
Thanks to those who blindly buy (long) BTC at the peak of the hill, and so I'm getting extreme high funding fee from the trading platform on every 8 hours. ;) This may be the good timing for the newbie (especially those "smart traders" trying to "educate" me in a bad way) to understand, what's the real meaning "Do not chase ups and downs. Anyway, regardless long or short, debate / discussion with open-minded is always welcomed. Sincerely hope ALL OF US could make a fortune from crypto trading!
Again, this is not a financial advises. I'm not a professional analyser, and I've started the trading for 2 months ONLY. :) It's my hobby to analyse the pattern so it would help in my development of automated pattern trading software.