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Elliottwaveretracement

Philakone is MAD! Know your ELLIOT WAVE-Theory now! Dear Friends! D4rkEnergy is back with an educational post about Elliot Wave-Theory. Yesterday, Philakone, a famous crypto-trader and TA-educator, was calling out one of the Top Authors in here, because he could not figure out how to draw lines. Philakone wrote the following on Twitter: "How to NOT draw Elliot Waves. it blows me away... this guy has one of the highest reputations on tradingview, and his elliot wave is shit. Ignoring the most BASIC rule of elliot wave in zig zags..." D4 is not here to create drama. D4 is not here to get enemies. D4 is only here to spread love and wisdom. He wants everyone to have success, therefore he decided to make this basic guide to Elliot Wave Theory. It is pretty complex if we go into the smallest details, but let us keep it basic for now. We are here looking at the 30 min BTCUSD Chart. ELLIOT WAVE THEORY Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s. He believed that stock markets was traded in repetitive waves and cycles. According to Investopedia this method gained popularity in the 1970s. Traders try to identify these waves and patterns, because it can help them predict the market. - 1 Cycle contains in total of 8 waves. 5 waves (1-5), which follows the trend, and then a correction pattern A, B, C. We also call this a 5-3 pattern. - Wave 1, 3, and 5 are impulse waves up - 2 and 4 are correction waves down - A, B, C are the correction As you can see, Inside every wave we can have smaller waves, also called sub waves. Basic rules: 1. Wave 4 always have to be above wave 1. 2. Wave 3 can never be the shortest. If these rules are broken, we have what we call an Elliot Wave failure. And therefore it is not a real Elliot Wave Cycle. This was a really short introduction. D4 encourage you guys to dig deeper into this! D4 loves you <3 And as always. Please follow D4 and give a LIKE, if you liked the analysis. It is much appreciated. Thanks in advance, my friends!
COINBASE:BTCUSDEducation
by D4rkEnergY
103
Bitcoin #BTCUSD - impulsive gains towards $12k ahead?The attempt to insert an impulsive scenario ended with a hyper bullish growth count. Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections. On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
BITSTAMP:BTCUSD
by sebastian.seliga.7
11
LTC appears to have topped, re-entry after corrective waveLTCUSD appears to have topped out. Anything is possible, but the wave count appears to be complete, RSI has diverged, RSI has started lower lows and lower highs. We still cannot rule out that this is just an X wave and that the larger scale will continue to correct. So when we look at the upcoming correction, we will be looking at how the wave corrects. Correction waves tend to be more shallow, tend to follow a channel, and tend to have overlapping waves. If the upcoming wave has the appearance of a corrective wave, it will give us more confidence in starting a long position. So for now, we are looking for a correction that is at minimum 38% but more commonly 61.8%-78% of the previous wave. An aggressive entry would ladder into a position at the 50%, then the %61.8% and at the 78% Fibonacci retracement levels and place the stop at just below the 100% retracement level. A more conservative strategy would be to wait for the correction to complete and then wait for price action to break through the top of the descending channel and close higher than the top of the 1 wave with good volume. This information is intended to be educational in nature, and help people understand how to use Elliot wave theory to benefit investment timing. We all must make our own decisions.
Long
by BRETTGUS1
BCPT continues impulsive 3rd wave BCPT -Price continues to confirm a third wave. Confirmation signs 1 break of Head and shoulders pattern. 2 Break of first wave top 3 increasing volume 4 RSI confirmation We may be at a pause in the action though. RSI is heading lower on the 1 hour chart, and the 4 hour chart RSI is oversold and probably signaling a short term correction. The Daily RSI continues to be very bullish. Target one has been hit so it is a reasonable trading strategy to pull a portion of your investment out as profit at this point. Target 2 is based onthe length of the 1 wave. Elliot wave suggests that the third wave can never be the shortest wave so a good projection is to project 100% of the 1st wave starting at the bottom of the 2nd wave. Often the third wave is the longest. We will have to see what price does. 1 hour
BLong
by BRETTGUS1
2
CND continues to correct In Elliot wave, corrections are often in a channel with multiple overlapping waves. The rule states that these waves will eventually be completely retraced and that price will eventually go above the previous impulse wave. Assuming this is a second wave correction, second waves often retrace atleast 61.8% of the previous impulse wave( wave 1). This is the case with CND right now. Price is in a channel correction. How do we trade these corrections? It has pierced the 50% retracement level so we are looking at price to at least go to the 61.8% retracement. Aggressive entry would be to ladder (buy) into a position at the 50% 61.8 and 78.6% levels. A conservative approach would be to wait for confirmation of a reversal. The first sign is a small impulse wave in the opposite direction of the correction. Another sign is a strong break of channel with good volume. Another possible sign is a head and shoulders formation. Each of these signs could be used as a reason to closely watch a pair, or could be used to enter into a trade.
C
by BRETTGUS1
3
Litecoin #LTCUSD - paradigm shift, more drops aheadThe change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals. Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a long-term downward correction cycle). So what is left? Well, the best scenario currently is the ABC type meter, which indicates the end of a complex wave cycle in the wave A (from the peak at $ 421) at a level of approximately $ 34.71. The last inheritance wave-wave C was used to complete this cycle.
COINBASE:LTCUSDShort
by sebastian.seliga.7
6
Ripple #XRPUSD - breakout and up trend continuation?The price of XRPUSD has broken above the golden trend line and now is trading around the level of 1.078 after making a high of 1.2296. The only problem so far is, that the breakout is only in three waves and we need five of them to count it as a valid, impulsive breakout. The key support level is at 0.8250. Any violation of this level would indicate a further deterioration towards the level of 0.5686. There are two main areas of a resistnace: one between the levels of 1.57-1.76 and the second one between 2.11-2.26. In a case of a rally higher those two zones should be tested relatively quickly.
BITSTAMP:XRPUSDLong
by sebastian.seliga.7
1
BTCUSD Possible H&S or Bull's flag formationThe price moved accurately like we predicted in the previous analysis. However, there is an opportunity to form H&S pattern as there wasn't sufficient volume to overcome the resistance of $9000. BTC is at a critical moment: right now the price can move in two scenarios with equal probabilities. It is below Ichimoku cloud and the red line is above the green line which means strong resistance, moreover Stoch RSI is about to reach overbought zone. It broke down the ascending channel. However it is currently on the way back to it. If it manages to return then three rising valley of Bull's flag will indicate the possibility of breaking through the resistance which will grant an opportunity to move higher and consolidate there. Also ABC correction wave which was observed after 5 Elliott Impulse waves has finished, this increase the possibility of the further growth. In case of pessimistic scenario the price will grow to the $8500-$8600 zone and then will fall back to the $8000 which will complete H&S formation. Then the price will decrease till the next support zone around $7200. In case of optimistic scenario the price will move out of Ichi cloud making it the strong support level and will go above $9000 which will complete Bull's flag pattern and will open the way to a higher level of trades. We recommend to carefully track BTC price movements and put a stop loss in case of pessimistic scenario on all your trades. In case of optimistic scenario we will provide you with new good signals and trade opportunities. Currently all trades are very risky, the market hasn't recovered yet, be patient.
by Skyrexio
6
STEEMBTCOn the 1-Day time frame we have a very optimistic scenario which indicates a growth in this month. The asset skyrocket in June and was in descending channel till the end of December. When it found the support the price went up in 5 Elliott wave pattern this was followed by Elliot ABC correction wave and stopped at Fib 1 support level around 0.000399. Oscillators and moving averages indicate further growth and we expect increase of the price till the Fib 0.618 level. The signal is already in the Premium channel
Long
by Skyrexio
Elliot waves. Why cant fully trust this theory. You can find many websites, even free books of Elliot Waves Theory. But if you read it by on eye, can understand its kind of shamanistic predictions. law of the universe - from small to big, law of complication and development. To build waves, should start from max. minimum time frame -1 min. than 1 min group in 5-15 min, than to 30 min, 30 min group to 1 hour, 1 hour to 4-8, and than to daily. the waves are divided into 10 degrees, *subminute, *minute ,*minor , *intermediate, *primary, *cycle, *supercycle, * grand cycle.Depending on the source, there may be different names and divisions, but the essence is about 10 of them. The length of the wave depends on the length of the previous wave, this is calculated by Fibonacci extensions. The waves can contain impulses and elongations, the waves can be lateral or the extensions can be pulses. And the main thing is how to understand this all. Where the exact coordination of movement, measurement, distribution ,. what if to miss? Suddenly it was an impulse but I built it like a wave, maybe it was an extension in wave 3, or is it ABC? in general, you understand that this algorithm is based on your personal judgments and experience, and from those sources that you used in studying waves. When this system of construction attends 2-3 internationally recognized postulates, then it is worth starting to study it. Now it all depends on who and how he sees, and you can prove that there is no way, but skolko people, so many opinions. Not waves determine the movement of prices, but people, their judgments, analysis, the market's opinion of the traded instrument, the conclusions based on previous levels of support and resistance and the general trend. Now the theory of waves is a guessing on the coffee grounds and dancing with tambourines around the fire under the starry sky.
BITSTAMP:BTCUSDEducation
by GeorgeVeritas
12
BITCOIN #BTCUSD - end of the correction? New highs ahead?The current correction is the biggest in the entire Bitcoin history (arithmetic graph) and has already reached 71%. On the other hand, the rate managed to rebound from the blue trend line just above the target level at $ 5,540. The $ 300 was missing so that the price hit the Fibo cluster. From the Elliott wave theory perspective, the price tests the bottom trend line (gold) and tries to break above it. The $ 5,962 level is now the most important technical support, with the support of $ 7,213 remaining. The next resistance tested is $ 8,160. Beating over this resistance can cause a gunfire towards very important levels at $ 9,222 - $ 9,515. Only breaking above these levels opens the way for further growth.
COINBASE:BTCUSD
by sebastian.seliga.7
15
BTSUSD one more lower low?havent updated my charts since whenever i last posted this, but no need for a change... everything appears to be following the path i charted before with 1 more lower low as a high probability i see that it has made its mini pump to possibly the final position for "D" as i do not expect a higher high in this market. Which is fine, and expected elliot wave theory states that after 5 waves up a requisite ABC correction must follow = where the correction can morph into a multitude of acceptable possibilities, however, without exception it MUST observe a 5 wave sequence down during the final descent of the "C" leg. i count 4, means only one thing left to do...complete 5 waves down with 1 more. target <16cents ladder in. depending on what BTC does, we may see BTS as low as 12cents! which is a tremendous buying opportunity you won't want to miss. hooray the end is nearly here and we can all look forward to a cycle up!
POLONIEX:BTSUSDShort
by astoinis
2