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Bitcoin (BTC) Elliott Wave - Primary ImpluseMacro level Elliott Impulse Wave for BTCUSD. Following the traditional approach, Wave 1 starts Oct 21 when we have a big daily reaction to kick off the parabolic trend. This aligns directly to Wave 3 being the 161.8 to validate first part of the impulse move that started the trend. The retracement of wave 4 is the defined 38.2 length of Wave 3 . The final Impulse Wave 5 is set to 100 percent log of wave 1 or is the 1 fib from Wave 4 retracement. Temporal Timing: I took the angle of wave 1 (~46 degrees) and wave 3 (63 degrees) and came up with a Target date between March 19th and April 1, ironically labeled April Fools. For confluence of the time, the trend based fib tool was used from Waves 2-3-4. Wave Theory: Ralph Nelson Elliott is the father of the Wave Theory, which is commonly called and more accurately described as the Elliott Wave Principle. Born on July 28, 1871 in Marysville, Kansas, Elliott reached his ultimate achievement late in life by a circuitous route. Guidelines: • Impulse wave subdivide into 5 waves. The impulse move is subdivided as 1, 2, 3, 4, 5in minor degree • Wave 1, 3, and 5 subdivision are impulse. • Wave 2 can’t retrace more than the beginning of wave 1 • Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5 • Wave 4 does not overlap with the price territory of wave 1 • Wave 5 needs to end with momentum divergence Fibonacci Ratio Relationship • Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 • Wave 3 is 161.8%, 200%.. of wave 1-2 • Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50% • There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3 COINBASE:BTCUSD
COINBASE:BTCUSDLong
by daptrades
9
Great Way to draw Fibonacci levels using Gann,TZ, and TES Fibonacci levels can become powerful ways to find almost EXACT support and resistance levels and also time your trades. I have used them to predict turning points in markets on short time periods but they also are predictive in larger time frames. How to Align Fibonacci Levels: A very good and objective way to draw your Fibonacci levels is to use Gann Boxes, Transient Zones and the Temporal Extreme Spitter. All of these indicators are in the Public Library. First start with the Temporal Extreme Splitter (TES) by Richard Santos. The extreme splitter will give you exact high and low places to place your gann boxes. The Gann Boxes provide fibonacci in two dimensions- price and time. You can align the box ends with the TES. However, I have found one of the best ways is to align the Gann boxes is to set the 50% level on a long/strong TES line. Next when you align the extremes up with either the center or one or both of the ends of TES lines; then you are ready to start aligning the Fib levels for time. There is no exact science for doing this but a good way to do it is to try to match the highs and lows using Transient Zones. Transient Zones themselves give highs and lows and are also great places to align the boxes. However, since TZ's can occur more often than the TES lines (if you use default settings), its good to align them with the Fibonacci time levels of the Gann box. When watching your entry and exit points, it is also useful to include the concept of Divergence into them for even higher probability trades. One of the best ways to see divergence is to use a stochastics oscillator. The 14,3,1 default setting is fine. There are also some other ones in the Public Library. I am really into fibonacci, so I will sometimes use a stochastic 55 or 21. To see divergence, look at the highs and lows on the price chart and compare them to the highs and lows of the stochastic oscillator. If you do this correctly, you can sometimes see where the market is slowing down and turning. The key word here is slowing down . Divergence can be used as a confirmatory signal or a way to get out of a trade when it starts to go the other direction. Good Luck in Your Trading - Spread Eagle 71
AMEX:SPY
by SpreadEagle71
2