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Elliottwavecorrection

[EW COURSE] IMPULSIVE WAVES SETUPBEST PLACE FOR ENTRY AREA ============================ CR1 = Research for BUY OPPORTUNITY on W(2) and W(4) CR2 = Research for BUY OPPORTUNITY on W(2) and W(4) CR3 = Research for BUY OPPORTUNITY on W(4) CR4 = Research for BUY OPPORTUNITY on W(2) and W(4) CR5 = Research for BUY OPPORTUNITY on W(2 ) and W(4) CR6 = Research for BUY OPPORTUNITY on W(2) and W(4) CR7 = (We don't trade it) CR4 = Research for BUY OPPORTUNITY on W(2 ) and W(4) FAIL IMPULSIVE WAVE: - W(3) OVERLAP W(1) - W(3) CLOSE BAR BELOW W(1) HIGH EW GLOSSARY =============== If you think this analysis can be useful, leave a your comment or your ILIKE! Thank you for support and trade with care!
Education
by TheAnonymousBanker
13
BTCUSD Elliott Wave Analysis – Wave IV – How will it play out?In an earlier analysis, I posted 3 scenarios (shallow Barrier Triangle and Flat, and deeper Failing Wedge) that were possible based upon the Alternation Guideline that follows the principle that Wave II and Wave IV (or W2 and W4) alternate form. Since Wave II was a sharp and deep correction, correcting the initial run to 1143, all the way down to 157.50, Wave IV should be a more shallow correction. The worst case scenario is a deeper correction to 1144, to not overlap into Wave I territory. However, given Wave II was deep, Wave IV should be a shallow correction, probably not retracing more than 31.8% of the entire move from Wave II to Wave III. That would put the likely depth not more than the 1826 price level. Based upon more recent price action, a rising wedge is being traced out, which may result in Wave B of IV achieving sub-critical levels, if the pattern holds. Sadly, this point B of IV and the rising wedge result in a lower termination than the least shallow alternative, the Barrier Triangle, needs to play out. For a Barrier Triangle to form, a more rapid ascent to climb above Wave (A) of A of IV, above the 2800 level, is required. Similarly, for a Flat to form, a more rapid ascent to near the old high at 2980, needs to quickly initiate and break out of the rising wedge before normal termination (points (d) and (e)) and below the 2800 level. The Flat correction probability is falling quickly. All of this is pointing to the possibility of a Falling Wedge, or another variety of triangle to form, for the final leg of the correction, Wave of C of IV. www.elliottwave.net
BITSTAMP:BTCUSD
by RogueDave
13
BTCUSD still showing market as bullishI know everyone is panicking, fear is present, blood bath on alts, ... But when I look at the charts, I see a few bullish signs: -sell wolume keeps going down, bears tired ? -RSI on the 6h, 12h, 1d & 3d oversold. -ABCDE elliot falling triangle wave correction in a rising market. If we clearly break the support, then I will be bearish but until then I will stay long on BTC. As always, it is one possible scenario, stay safe and happy trading! + Feedback appreciated :)
BITFINEX:BTCUSDLong
by truffet
BTCUSD Elliott Wave Analysis - Counts and ForecastsBefore Wave V can commence, Wave IV must exert it's toll, the dreaded correction. How this correction will play out can take several forms. Since we are early into the TIME aspect of this correction, it is impossible to state how it will develop. As a reminder, the correction after Wave I, took the form of a Zig-Zag, and spanned approximately 1 year, Jan - Dec 2015. While not "Rules", Elliott Wave Analysis does set out "Guidelines" in additional to "Rules". In regard to Corrections, I have copied these guidelines and am including them here for your information (education) and convenience. The source is at: www.wavaholic.com - If wave 2 was a sharp correction, wave 4 will almost always be a sideways correction and vice versa (Alternation). - Wave 2 is usually a zigzag or zigzag combination. - Wave 4 is usually a flat, triangle or combination thereof. - Wave 4 usually ends within the price territory of the fourth wave of wave 3. -- (in this case, this may be ignored as wave 4 of 3 of W-III is below the crest of W-I, and W-IV may not, by rule, impose into W-I territory.) So, recapping, Wave I climaxed in December 2014 at US$1163. The Wave II correction was steep in price terms making a Zig-Zag pattern, and ended in Jan 2015 at the low price of $152.50 retracing in excess of 78.6% of the advance from low single digits. A little over 2.5 years later, W-III crested just short of $3000. The current correction low has only retraced a small 25%-ish of the advance thus far. The corrective retracement could extend to 61.8% of the advance from the W-II lows without impinging into W-I territory. But by guideline, since W-II was sharp, W-IV should be shallow as the alternation guideline suggests. Below, I will present 3 scenarios that I believe this correction is more likely to follow. The deeper corrections could only retrace 38.2% rather than the 50% as presented. The Time frame for Wave IV to play out may well extend considerably beyond the 3 month time frame captured within the charts. If we only correct for 3 months after a 2.5 year bull run, it would indeed be not only shallow, but short. Good luck trading, or be patient if you are a HODler, this too shall pass in the longer run. Wave III Correction: Barrier Triangle (Medium to High Probability) Wave III Correction: Flat (Medium to High Probability) Wave III Correction: Falling Wedge (Low Probability)
BITSTAMP:BTCUSD
by RogueDave
8
[EW COURSE] FLAT CORRECTIONTYPES FLAT CORRECTION WAVES: There are three predominant types of flat corrective waves. These include: Expanded flat: This is arguably the most common flat wave formation and occurs in the second and fourth wave of an impulse wave. What connects the expanded wave to the initial impulse wave is a zigzag or other types of triple or double connection. In a bullish market, the price of the underlying asset moves against the trend to form a 3-wave shape. In an expanded flat wave, wave B also appears in a 3-wave structure and goes beyond the start of wave A, while wave C extends beyond the end of wave A. The expanded wave is also known as an irregular flat although this term can be misleading as the expanded wave appears more often than other types of waves. Regular flat: In a regular flat correction, wave B ends slightly at the start of the wave A while wave C ends just beyond the end of wave A. Running flat: A running flat wave is a 3-3-5 wave. Here, wave B terminates past the start of A wave and C stops almost close to the end of wave A. The formation of a running flat is quite rare. The difference between the expanded flat and the running flat is the point at which wave C stops. In an expanded flat, Wave C ends beyond the end of wave A. All in all, each type of corrective flat is essentially an ABC wave with a 3-3-5 sub-waves or configuration. It is also important to note that these types of corrective flats go against the trend of the impulse wave, one degree higher. Thank you for your support! HARMONIC CORRELATION
Education
by TheAnonymousBanker
17