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MATICUSDT. Prediction using ElliotWaves On the 1d chart, I see that we had a 3d wave (because AO had highs) and now we draw the 4th wave (AO is below the 0 line). What we can expect? - The first scenario is that the 4th wave is completed and we are in the motive 5th wave (see blue lines with 1-2-3-4-5 on the chart) - The second scenario is that the 4th wave is not completed yet and what we see is wave A of the 4th wave. Now we draw B and then go downg below A to complete C of 4th. I think that 1st scenario is more probable so I opened long position.
MLong
by electronicRock8888
XRP Is About to Explode!Hello, everyone! Let's continue to practice in Elliott Waves by Trading Chaos. I found the potential long trade on XRP. We can see that global Waves 1 and 2 have already finished with the classical 1-2-3-4-5-A-B-C cycle. Now XRP is in the Wave 3. Look inside the Wave 3 The Subwave 1 of Wave 3 have been already finished and now the price formed clearly A-B-C-D-E triangle correction. Subwave 2 have already reached the target zone and formed the full cycle. Now the price is ready to explode in Subwave 3. The target for the GLOBAL WAVE 3 is $1.75 and now there is very nice entry point! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Long
by Skyrexio
6
Bitcoin | What Is Next?Hello, everyone! In the previous analysis on BTC I told that Wave 3 is going to break ATH. Well, it is the case! But what is next? As you know, I study the Trading Chaos by Bill Williams. Last forecast was made by this methodology, but I am still a freshman in Chaos. Today I am going to try to add my new knowledges about Elliott Waves in practice. The main question now is if the Wave 3 finished or not. The target zone for wave 3 is 1 - 1.62 Fib extension. So, the minimal requirement is done. Also we can see the divergence with profitunity MACD, but to be honest, I am still not an expert in this indicator. I am not except another one move to the upside in Wave 3 continuation. Next time I will learn the advanced techniques for wave detection, I know Bill Williams use multiple timeframes for it. If we now see the end of Wave 3, I suppose that the Wave 4 is going to be the A-B-C-D-E triangle correction. The target zone for Wave 4 is $54000 - $56000, but in case of triangle correction it can be even higher. In this case the $56000 on Bitcoin is a good time to buy altcoins, according to my analysis about new altseason(see the previous analysis) What should we do? If you bought Bitcoin or altcoins at the end of Wave 2, like me. You can just HODL and wait for the Wave 5 and last altseason in this bull cycle. If you are still in stablecoins, I can recommend you to wait the Wave 4 end to buy altcoins. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
by Skyrexio
5
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
Trading Chaos Part 4 | Elliott WavesHello, everyone! Today we are going to spot the most important and challenging part of Trading Chaos by Bill Williams(BW) – the Elliott waves. This analysis is the most efficient in combination with other techniques of Trading Chaos. Market always moves with the waves and BW developed the conception which eliminate the uncertainty of Elliott Waves. In this article we will consider every wave and explain how to spot their target areas. First of all we need to understand the 5 “magic bullets” which kill the trend. They are: Divergence with the Oscillator Target zone The squat bar at the one of three top bars Fractal at the top Momentum change Today we are goin to consider only the target zone. Other tools we will reveal in the next articles about Trading Chaos. How to spot Wave 1 start? Research the last wave from the previous trend. This should be wave 5 or c. This last wave have the typical structure of waves with less scale. You can use the technique for Wave 5 end defining to spot when trend is finished. How to spot Wave 1 end? Search the 5-waves structure inside the Wave 1. You also should spot the 5-th wave end. Use the 5 “magic bullets” which usually kill the trend.
BITSTAMP:BTCUSDEducation
by Skyrexio
2
Trading Chaos By Bill Williams | Part 3Hello, everyone! Last time we considered the candlestick patterns by Bill Williams(BW). Today we are going to expand the novice trader tools for better understanding the market situation. To define if the market price is going without obstacles BW use the Market Facilitation Index. It demonstrates how the tick volume can be the market driver. The calculation you can see on the pic. Just calculated MFI for one bar is not useful for the analysis. We should compare it with the meaning of the previous period. Using this comparison, we can divide 4 profitunity windows. 1. GREEN Current MFI is GREATER than previous one, current volume is GREATER than previous one too. This is the breakout signal. It means that more and more traders execute trades in the direction of a bar trend. Your best decision here is to follow this impulse. 2. FAKE Current MFI is GREATER than previous one, current volume is LESS than previous one too. The price go in the trend direction without the volume support. This is the sign of possible correction. Here is the time when it is too easy to manipulate the market(especially actual on the Bitcoin market!) 3. FADE Current MFI is LESS than previous one, current volume is LESS than previous one too. This is the most valuable indicator. Squat bar usually appears on the end of trend. Here the nice opportunity to enter the market at the beginning of the new trend. 4. SQUAT Current MFI is LESS than previous one, current volume is GEATER than previous one too. The market has low volume and volatility. This is the time when the interest is decreasing, we can usually see it of the end of Elliott Wave 1, when the lack of buyers who want to buy with the high price. Here you should be ready for the big move. Next time I will show some signals with the beginner’s level of Trading Chaos trading system. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
7
Trading Chaos By Bill Williams | Part 2Hello, everyone! Let's continue to study Trading Chaos by Bill Williams(BW). He divided 5 levels of proficiency from the beginner to the trader-expert. Candlesticks is the beginning of the beginner level but this knowledge is necessary for the successful trading. Figure 1 You can see here the bar structure, the open, low, close and high of the bar. This is very easy:) Figure 2 BW suggests to divide each bar by 3 equal parts to identify the information this bar can provide to us. Let's numerate each bar with two numbers. The first one - the number of the part of the bar where the open price located, the second one - where the bar has close price. Figure 3 The bar (1 1) means that bears tried to continue downward movement, but bulls took control in the end of the timeframe. This bar means the 85% probability that the price will go up next from 1 to 5 bars on the same timeframe. Bar (3 3) means the absolutely opposite. Figure 4 Bar (2 2) is indefinite bar. We cannot make decisions based on this type of bars. Figure 5 Bars (3 1), (2 1) and (3 2) called upbars or climbers. (3 1) provides the most piece of information that the market is in the uptrend. (2 1) bar is less informative than (3 1) but we can also say that the bulls defeated the bears on this bar. (3 2) is the least informative bar. Figure 6 Bars (1 3), (2 3), (1 2) are the downbars the logic is the same as for upbars. Figure 7 The trend direction can be roughly estimated as the two bars relationship. If the middle of the bar is above than the high of the previous bar market is in uptrend, if below - in downtrend, if inside - there is no clear trend. Next part will be more interesting, difficult and useful. Please give us a like and subscribe the blog to not miss it! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
Trading Chaos By Bill Williams | Part 1Hello, everyone! Today we gonna start the series of articles about the "Trading Chaos" by Bill Williams(BW) . He has the unusual theory abut how the markets play out. After this concept learning I am going to trade with his techniques and test this trading method. Please, subscribe and give us a like if you are interested in studying Trading Chaos. If you are familiar with this theory and used it in practice, please, write your opinion about it in the comment section. Let's start! In the first chapter BW explains why the most of traders are in the wrong side of the market. There are a lot of strategies which use the linear method for the market price predicting, but the market is not a linear system, because it formed by the human behavior, which was born from chaos. The fractal geometry approximates the chaos in our world and, in particular, on the market. The fractal is the element of chaos and we will study how to identify and use it on the market in the next chapters. What you need to know now? 1.Classical technical analysis does not work because of the linear approach which it use. 2.Mechanical trading systems which provides the automatic trading does not work too with the same reason. 3.Market is the child of chaos and we need nonlinear methods, which we will consider in the next parts. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio