Get started

Wave Analysis

FHZN - The power of elliot waves Dear subscribers, lets come together for an educational article featuring the zurich airport. SIX:FHZN We have published some articles about the Zurich Airport in the past and suspected back then a more bullish structure than this one which we are publishing now. The Zurich Airport company operates and manages the eponymous Zurich Airport in Switzerland, which is the international transportation hub for the entire country. The company has an excellent management and the government of Zurich itself holds almost 38.38% of all shares. Therefore, Zurich Airport can always rely on government support and enjoys a good reputation. In addition, the company is increasingly expanding into emerging markets and now owns Hercilio Luz Airport (FLN) in Florianopolis Brazil. For the future, it is therefore clear that the company is increasingly driving its presence abroad and expanding its business model. However, the zurich airport stock provides an excellent example to introduce traders who are not familiar with the Elliot Wave method of analysis. The stock has originally been around since 2000, but on Tradingview we only have access to the market data since the beginning of 2010, but this makes little difference to the current movement, as a huge 1-2 wave setup was also formed during the period 2000-2010. Technical explanation of the Elliot wave structure: The stock has experienced a huge price increase since 2012, which was supported based on a huge 1-2 (Orange) wave setup. From this structure, a large wave 3 was established, which additonally established a complete impulse of its own (dark green). After completing a short correction in wave 4, the stock first formed an impulse (light green) and ended the year-long bull market with a final impulse (turquoise) Since then, we have seen a very hard downward impulse, which reached its absolute peak in early 2020 due to the Corona crisis. Since the last low at just under $83, the stock has been rising again in what we categorized as a wave B (yellow). Now, a wedge has formed over the last two years, which strengthens our assumption of a corrective B wave. Finally, a breakout can be expected within the year 2022 and the stocj will correct with high probability back to 80$. Disclaimer: According to legal regulations, Mornau-Research is not a certified or legally recognized financial advisor and any transactions based on published content are at your own risk. Mornau-Research cannot be held liable for any losses whatsoever according to the legal regulations in it's country of residence. =============================================================================================================== If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact us.
SIX:FHZNEducation
by Mendenmein-Capital
BTC 1D Chart . BTC Head and shoulder Dear All This the only Educational theory and its is not financial advice . Like the post if you fund it useful H&S Pattern: The head and shoulders chart pattern has become a stalwart in the arsenal of many traders over the last few decades. The reason is not difficult to find: it has proven itself to be a remarkably reliable indicator of future price movements. As the name implies, the pattern looks very similar to a head with two shoulders on the side. The following graph shows a typical head and shoulders pattern. Typical Head And Shoulders Pattern Typical Head And Shoulders Pattern Reversal Pattern The head and shoulders pattern is what is referred to in the industry as a reversal pattern. This simply means that when a CFD trader encounters this pattern on a stock, FX or commodity chart, chances are very good that the underlying security is about to undergo a change in trend. The pattern has two different versions, one that appears in uptrends and one that appears in downtrends. The traditional pattern pictured above appears when the uptrend is about to be reversed and a downtrend becomes a very high likelihood. Before The Uptrend The second version, sometimes described as the inverse head and shoulders, usually appears in a downtrend and this signals that the trend is about to reverse and that a new uptrend has become a high probability. Note how the volume increases once the new trend gets properly underway. Typical Inverse Head And Shoulders Pattern Typical Inverse Head And Shoulders Pattern Similarities: Peaks And Troughs The construction of both types of head and shoulders patterns is quite similar. Studying the chart will show a head section in the middle, two shoulders on the sides and two necklines between the shoulders and the head. What the trader should wait for, here, is the second shoulder to form and the price to break up or down above or below the second shoulder. This is happened the point A in the Chart, The head and shoulders together form a set of peaks and troughs. On the other hand, the neckline provides a level of support (during and uptrend) or resistance (during a downtrend). Down's Theory Essentially the pattern is based on an analysis of peak-and-trough analysis in terms of Down’s Theory. An uptrend can be interpreted as a series of successive rising tops and rising bottoms. Whereas, a downtrend consists of a series of lower highs and lower lows. When the trend starts to weaken, these ‘peaks and troughs’ fail to make new highs (during an uptrend) or new lows (during a downtrend) -- hence the trademark troughs of the head and shoulders pattern. Note that the two troughs do not always fall on a horizontal line, the second one might be slightly higher or lower than the first one. Sometimes, immediately after breaking through the ‘neckline’, the price of a security will revert back to the neckline. Breaking Through The 'Neckline 'Breaking Through The 'Neckline' The 'Throwback' At the point marked ‘throwback’ the price had broken through the shoulder and then dropped back to the same level. This is no cause for alarm. All it signifies is that what previously used to be a resistance level has now changed to a support level. It actually underscores the strength of the signal. If the price, however, drops significantly below the shoulder in what is supposed to be the start of a new uptrend, it could mean the trend has been broken and that the previous downtrend would continue. Trad Base on Your Decision and Knowledge . Happy trading
Education
by Rayman13XX
📚#e04 : A Journey Of Inversion ♋ Bond Masters💰Of Us All ⚖️💫An Education🎓 Series Continuation Prior Episodes Found In The Content Below ❔ What Are Bonds Bonds Are The Foundation Of A Debt Based Monetary System Bonds Define The Cost Of Money Over Time Put Simply Bonds Are Future Dollars Read That Again🔂 US Treasury Bonds Are Future US Dollars Deliverable At A Specified Time In The Future I.e 30 Years Henceforth By Purchasing A US Treasury Bond You Enter Into A Legal Contract With The Treasury Wherein You Will Receive The Principle Or "Face Value" Of The Bond Plus The Rate Of Interest Specified At The Time Of Purchase ❔ A Traders Role To Make Money I Hear You Say Well Yes Of Course But What Exactly As Bond Traders Are We Getting Paid For ? To Provide A Service Our Collective Actions Expressed Through The Trading Of Bond Instruments Determine The Cost Of Money Yes This Is True Bet You Didn't Know That Regardless Of Your Trading Size We Are All Interacting With The Free Market Our Role Is To Correctly Price The Cost Of Money When We Trade Bonds Profitably Our Roles Are Fulfilled ❔ Why Else Ultra Bonds Low Operation Costs Only Pay Spread Fee Regardless Of Trade Size As Futures Contracts Zero Overnight Cost To Carry Operation Costs Will Kill A Trader Over Time Same As Any Business d-MR96nBa nvrBrkagn ℹ️ CME Group Official Ultra Bond Trader Site www.cmegroup.com Starblazers 🌠 Dreamscapers 🧙🏼‍♂️ Rebellion 🧗🏻‍♀️ Join Me On A Journey Of Mastery Utilising The Instruments Symbolising Our Servitude Slaves Will Topple Masters Behold.. The Ultra Bond Future 🗽 US 30 Year Yields📊 📚#e03 : 📚#e02 : 📚#e01 : CBOT:UB1! TVC:US30Y
CBOT:UB1!Education
by d-MR96nBa
42
How to spot and use MACD DivergencesOscillators Oscillators are any bits of information or data moving back and forth between two points. It is usually used as a signal for a buy or a sell on either side of the range it is moving in. The Relative Strength index which you might hear of is an example of an oscillator, however I will not be going into detail about it as we do not personally do not use it for my trading. When there is a change in momentum, this often signals weakness in a trend. The indicators are designed to signal a possible trend reversal. The only oscillator we use in our trading is the MACD. Moving Average Convergence Divergence. Feel free to look into other indicators, however, we believe that the MACD has been our favourite to use. DIVERGENCE Divergence is simply when we will be looking at the difference in price action against an indicator such as MACD, RSI, Stochastic. The simplest way to put it, when the price is making higher highs the indicator should also be making higher highs, and lower lows then vice versa. If the price is making higher highs but the indicator is not, then the two are diverting from each other and we have divergence. This is a great sign for a weakening trend and a potential shift in momentum. The two types include regular and hidden. Regular divergence When the price is making lower lows (LL), and the oscillator is making higher lows (HL), then we have what we call regular bullish divergence which usually appears at the end of a downtrend. If the price makes a higher high (HH) but the oscillator makes a lower high (LH), then we have regular bearish divergence. This usually occurs at the end of an uptrend. Hidden Divergence Divergence does not necessarily have to show when the trend will reverse, it can show trend continuation, and since we try to avoid trading against the trend this can be of great help. When the price makes a higher high, but the oscillator makes a lower low, we have what we call hidden bullish divergence.   When the price goes to make a lower high but the oscillator makes a higher high, this is what we call hidden bearish divergence. Always remember that in conjunction with these signals, we need other signs in order for us to enter the trade. We cannot solely base our analysis on oscillator divergence, otherwise we can find ourselves on the wrong side of the trade. Wait for the crossovers of the indicators to be sure, this can happen after the price has begun to move, however it can be an assurance that the divergence observed is correct. Always remember if the market is moving sideways, there are no clear indications of divergence so do not force it. Always connect the latest in the price action, meaning if the price is bullish and is retracing, you are looking at higher highs. Focus on the highs and lows of the indicators and ignore any small minor movements in between. Wherever lines are drawn on the price, they have to line up with the oscillator and that is where the line will also have to be drawn, everything has to line up.
BITSTAMP:BTCUSDEducation
by opes_trading_group
4
Targets: As determined by patterns Key: Pink: RSI Reversal Divergence Turquoise: Hidden Bullish Divergence Yellow: Volume Reversal Divergence Green: Reversal Expanding Wedge Blue: Double Top Red: Head and shoulders Purple: Head and shoulders Orange: Flag, expanding wedge? Pattern may not be finished. Bull Orange Falling Expanding Wedge: 56779-59974 and 61271- 65940 And, no pattern to verify, 49636 - 51539 Bear Blue Double Top (exceeded): 49636 - 51539 Red Head and Shoulders (current): 40566-43600 Green Expanding Wedge (possible): 29469 - 34888 Purple Head and Shoulders (ARGHH!) 16630-21303 Let’s recap. BTC just 3x’d. Last cycle was 5x. So, it’s possible it’s over, yeah, wait a few years. Also, if you look at BTC on any time frame above the weekly, it screams “BEAR”! Although, as we all know, it’s been like that from the beginning. But my point is to be prepared. Reversal divergence on the daily here, and I expect a rally upwards from 35-43 because of the daily and 4hr divergence. However, zoom out, and we are in danger zone. I am scalping here. I’m selling between 44 and 55. If 35 breaks, we are going down. There is room for another pump, 55+, because there’s a lot of bulls out there, but it will be a struggle. I would not be surprised by a 13k BTC this year. I WOULD be surprised by a 100k. I play the daily… and far as I’m concerned, the daily says 48-52 and 35-40. And the daily says start buying. Stagger your orders. Don’t catch a falling knife unless you’re ready to scalp. If your buying now and you are not scalping, your chasing the low. If that’s what your doing, you better have a stop loss. Wait for a low, distinguish the divergence, start buying, that’s how you do it. Now… Bullish arguments: Reasonable Reversal divergence on the 4hr, daily. Target 50ish, this will begin a HNS reversal pattern, for all those 100k BTC enthusiasts out there. Orange Falling wedge has 5 waves, ready to turn, so keep an eye on this zone, your looking for a break above 45. Your looking for 39 to hold Fear and greed index just peaked into 10, “extreme fear,” but as always, this is an index, and your not aiming for the low, your aiming for the divergence. DIVERGENCE IS YOUR CHEAT CODE TO TRADING Bearish arguments: Way too f**kn many to list here. I’m short term bullish, long term bearish Look at the weekly, 2 weekly, monthly, 3 monthly Tell me, what do you think? Remember, a tiny spike, can be worth 10k on the monthly, especially with divergence. If we go up, 58 is heaven for me right now. Happy trading. Trust you. Trust your gut. And learn the cheat codes. I love you all my crypto family! Trade well, and be immune to everything!
BITSTAMP:BTCUSDEducation
by BlakeWissemann
ELLIOTT WAVES and REAL CHART RUNE ANALYSISElliott Wave Theory Interpretation The Elliott Wave Theory is interpreted as follows: Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move. The underlying 5-3 pattern remains constant, though the time span of each wave may vary. Let's have a look at the following chart made up of eight waves (five net up and three net down) labeled 1, 2, 3, 4, 5, A, B, and C. Waves 1, 2, 3, 4 and 5 form an impulse, and waves A, B and C form a correction. The five-wave impulse, in turn, forms wave 1 at the next-largest degree, and the three-wave correction forms wave 2 at the next-largest degree. The corrective wave normally has three distinct price movements – two in the direction of the main correction (A and C) and one against it (B). Waves 2 and 4 in the above picture are corrections. These waves typically have the following structure: Wave Degrees Elliott identified nine degrees of waves, which he labeled as follows, from largest to smallest: [ *]Grand Super Cycle Super Cycle Cycle Primary Intermediate Minor Minute Minuette Sub-Minuette
Education
by NiccoFx
Classic Example of Over Extending; Meaning TRAPHi Everyone! I've said this before and I wanted to say it again. If I point out the "Potential" for the price action to do this or that, please be SURE to go to your Immediate Group of time frames to make sure the Red RSI and Blue LSMA are lined up and ready to do as I suggested in my "opinion" BEFORE executing a trade based off my "opinion." This publication shows WHY you should do this regardless of who's "opinion" you get. Whether it be my opinion or anyone else's "opinion." Happy Trading and Stay Awesome! David
Education
by WyckoffMode
9
Father of all strategiesHello traders! This is a detailed and most importantly a correct analysis of the previous pump and dump. There is always a reason behind everything and there is also a reason behind this whole formation. There is a complete cycle that forms before this formation and this formation is a reaction of that cycle. Let's talk about this formation After a deep search, I have figured out that the market never leaves any Support/Resistance untested and if it happens then we will see this type of formation and when the formation is completed we will see the market will move back to that untested Support/Resistance. (Tip 1: You can trade every breakout but on the opposite side of breakout because the market always show retracement after the breakout) At the start of this Formation the time the first pattern we see is a 'J' pattern. Now, what is the J pattern? 'J' pattern is itself a reversal pattern only if it is formed above the support area but in this case, 'J' pattern is not connected with the support area so it kept pushing up. The Next pattern after J is a correction/consolidation pattern and in total, we will see 3 consolidation/correction patterns in this formation. (Tip 2: After every breakout there is a reaction pattern and 5 out of six times market moves back after a breakout so follow tip#1) After the 'J' pattern the second pattern is an Expanding triangle and if you are aware of this pattern then I must tell you that you were always taught wrong because you must be taught that trade towards the direction of the breakout and it's a wrong way. As I told you 5 out 6 times market moves back after breakout and you can see the charts yourself. So trying your luck on 5 out of 6 probability is better than trying your luck on 1 out of 6 probability. (Tip # 3 is don't be fooled and follow tip # 1 and always use stop-loss to save yourself from unwanted loss and save your account for new trades) The third and final pattern is a correction breakout without any reaction pattern and this is a pattern that pushed the Bitcoin back to the pavilion. Happy new year guys and I hope you will make millions in the year 2022. Don't forget to hit the like button and follow to stay connected.
Education
by Aadil1000x
9
Physics and mathematics and its relationship with this marketbutterfly Effect=Chaos Theory=Fractal Butterfly effect is the name of a phenomenon that occurs due to the sensitivity of turbulent systems to the initial conditions. Butterfly effect means that a slight change in the initial conditions can lead to far-reaching and unpredictable results in the system. So what does this have to do with this market? For example, the company related to these cryptocurrencies did not do anything positive during this period, which caused the currency cryptocurrency to rise sharply. Rather, the past work of this company during this period showed its effect. This video is just to show how the motion of the waves is related to the laws of mathematics and physics. It also shows that the motion of the waves (price) is not random and is related to different elements. Therefore, the future can be predicted in certain ways. Of course, technically. The old patterns and techniques are quite practical for this market, but they need to be updated. NOTE: I emphasize again that this video is just to show a broader view to the cryptocurrency market GOOD LUCK
Education
by MR-V2020
4
XAUUSD - Elliott Wave Rules & Guidelines of Wave FormationThis publication will focus on some of the rules and guidelines of wave formation in Elliot Wave theory in relation to the correctional sequences of Wave 4 and zigzags. Whilst Elliott Wave rules are requirements and form the basis of counting waves, understanding the guidelines of wave formation is as crucial in identifying wave structure and the likely scenarios that could unfold. Guidelines are not the same as hard and fast rules that cannot be broken, they are not always observed. However, they have proven to be very reliable over time. Alternation guidelines within an impulse dictate that; Wave 4 has a tendency to differentiate both in depth and form, from the previous Wave 2 of the same degree. Often trending sideways for the final Wave 5 to breakout from impulsively. Whilst a more common formation for Wave 4, the simple sideways correction (flat structure) formed as a Wave 2 between from July 2016- August 2018. Keeping in mind the alternation guideline of wave formation highlighted above, the potential for Wave 4 to play out as the alternate, more complex sharp correction is highly probable. Having reached the current ATH in August 2020, the ensuing correctional Wave 4 played out an initial Wave A which had a sub-division of 5 waves. This further enhanced the likelihood of Wave 4 being a zigzag correction consisting of the following rules. Rules for Zigzag (5-3-5) • Zigzag is a corrective 3 waves structure (ABC) • Sub-division of Wave A and C is 5 waves • Wave B can be any corrective structure • Wave B of a zigzag never moves beyond the origin of Wave A. •Wave B of a zigzag always subdivides into a zigzag, flat, triangle, or combination of the three. Wave B failed to surpass the origin of Wave A and in doing so respecting the following rule; Wave B never moves beyond the origin of Wave A. This added further confluence to the correctional sequence being identified as a zigzag and we can assume that there is a higher probability that Wave C will end with going beyond the completion of Wave A according to the following guideline; Wave C of a zigzag will often end beyond the pivot of wave A. Although truncation cannot be ruled out entirely. Another guideline which is important to note here is of the guidelines for channeling. One particular guideline states that; Wave C in a zigzag will often end at the projected trendline of the parallel channel. The obstacle here being the trendline of the larger degree channel. For this reason, it is my personal opinion that the wave C will not meet the trendline of its parallel channel. Rather, ending at the trendline of the larger degree. In any case, both scenarios are possible as a further channel guideline accommodates the possibility of a throw-under; a possible throw-under could also occur with wave 4 falling below the trendline. This would allow for Wave C to end at the trendline of the larger degree channel. Although this would mean that the completion of Wave C will need to be much sharper and a significant throw-under which is less likely to occur. For this reason, I should think the guideline of Wave C ending beyond Wave A to be sufficient. The guidelines covered above aren’t exhaustive, those highlighted are for the purpose of this analysis. I hope you have found the above information educational. Please remember that Elliot Waves are most effective for the long term analysis of markets and one should not make any trading decisions based on this theory unless they fully understand it. If you found this helpful, I would most appreciate it if you would like the publication and leave a comment. You are most welcome to follow if you are interested in reading further publications/ideas of a similar nature. A breakdown of the lower degree wave counts will be published soon. Thank you for taking the time. BeyondEdge
FOREXCOM:XAUUSDEducation
by BeyondEdge
20
MONEY WAVE The Money Wave is the holy grail of the Elliott wave. The money wave is the third wave of an Elliott wave structure. The third wave starts at the completion/end of wave 2 and aggressive entry can be upon a clear reversal candlestick while more positions can be added upon the breakout at the end of wave 1. Targets are 161.80% or 200% of wave 1. It might sometimes exceed this if there is elongation. Third waves move fast with strength, and the direction is clear when the price is within a third wave. Day traders may trade short-lived third waves seen on hourly charts. More long-term traders may trade third waves at larger degrees on daily and weekly charts. Long-term investors would trade third waves on weekly and monthly charts. Which degree you are looking to trade will depend upon your risk appetite and your experience. As a general rule, trading waves below a minor degree involve more buying and selling. You have to watch the market daily, even hourly. The more times you enter and exit the market the more room for error, and so the greater the risk. Trading at minor, intermediate, and primary degrees involves fewer entries and exits and there is less risk. If your wave count is correct and you identify a third wave you can hold a position for weeks or months for profit. Learn the following ratio of Fibonacci Level you need to determine the point of Entry and Exit. 1.Wave 2 should end at 50%, 61.8%,76.4%, 78.6% or 85.4% of Wave1 2.Wave 3 use to be 161.8% of Wave 1-2 but it can also be 200%, 261.8%,323.6% of Wave 1-2. 3. Wave 4 should end at any of this level of Fib 14.6%, 23.6%, 38.2%, or 50% of Wave 3 but not more than 50%. 4. Wave 5= Wave 1 length or 61.8% of Wave 1-3 or 123.6%, 161.8% of Wave 4.
TVC:UKOILEducation
by westbellisyfx
4
TRIANGLE Triangle is found in the position of wave 4, wave B of A-B-C correction, or in wave X in double zig-zags (W-X-Y) or triple zig-zags (W-X-Y-X-Z). Triangles usually tell that the price will move in the dominant trend once more. We have four types of triangles: 1. Barrier Triangle: Wave D ends at the same endpoint as wave B. 2. Contracting Triangle: Trendlines prices usually converge. 3. Expanding Triangle: Trendlines prices usually diverge. 4. Running Triangle: Wave B moves above the start of wave A. Running & Contracting triangles are common. Barrier& Expanding triangles are less common. Triangles take time and move price sideways. It is very easy for a trader to label a triangle ABCDE. If a triangle is seen then expect the price to exit the triangle in the same direction it entered, and that the movement out of the triangle to be the last movement in that direction.
Education
by westbellisyfx
🌊 ELLIOTT WAVES CHEAT SHEET 🌊10 Rules to 🏄‍♂️ them all! Hello, You may have never heard of Elliott Wave Theory before! Here is a cheat sheet for Elliott Waves for top 10 Rules, so you can master them all! print this out and keep on your desk. How do you read Elliott waves? The Elliott Wave Theory is interpreted as follows: Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move (fractal). The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors. Ralph Nelson Elliott (1871–1948), a professional accountant, discovered the underlying social principles and developed the analytical tools in the 1930s. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves , or simply waves. Elliott published his theory of market behavior in the book The Wave Principle in 1938, summarized it in a series of articles in Financial World magazine in 1939, and covered it most comprehensively in his final major work, Nature's Laws: The Secret of the Universe in 1946. Elliott stated that "because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable." The empirical validity of the Elliott wave principle remains the subject of debate. OpenSea version in signature below
COINBASE:BTCUSDEducation
by ArShevelev
15
Bitcoin's Market Cycle Explained Through Elliott WavesThis is an educational post on Elliott Impulse Wave structures, and how the theory can be applied to Bitcoin's chart, in order for us to identify the overall market trend. Disclaimer: This is not investment advice. This is for educational and entertainment purposes only. I am not responsible for the profits or loss generated from your investments. Trade and invest at your own risk. Basic Elliott Wave Structure - 80% of the time, an Elliott Impulse Wave would have a structure as the diagram demonstrated above. - After the first impulse wave, we have wave 2, which is a short term corrective wave, play out. - Most of the time, the second wave demonstrates a zig zag pattern, in which we can count ABC waves. - When the second wave is a zigzag, there's a high probability that the fourth wave demonstrates a complex correction, such as a double three (WXY), or a triple three (WXYXZ). - Also, when the second wave is a zig zag pattern, there's a high probability that the length of the third wave is 1.618x of the first wave's length. - In this case, there's also a high probability that the length of the fifth wave is equal to that of the first wave. - Keep in mind that these are all probabilities. There are no rules set in stone that state that waves have to move a certain way, in a certain length, but they tend to demonstrate this structure under certain conditions Bitcoin's Elliott Wave Structure - However, as you can notice from Bitcoin's Elliott Wave count chart above, Bitcoin's second wave did not demonstrate a zig zag pattern. - Instead, Bitcoin demonstrated a triple three (WXYXZ) leading to a sharp final drop caused by the Covid outbreak. - When the second wave demonstrates a triple three pattern, there's a high probability that the fourth wave demonstrates a zig zag pattern. - Also, when the second wave is a complex correction, there's a high probability that the third wave's length is 2.618x of the first wave's length. - Additionally, when the second wave is a complex correction, there's a high probability that the final wave's length is 1.618x of the first wave's length. Bitcoin Weekly Chart Elliott Wave Analysis - Taking into consideration the Elliott Wave structures explained above, we can now see that Bitcoin's trend can be explained by the second diagram. - We saw a complex correction (triple three, WXYXZ) pattern on Bitcoin's second wave. - We're currently completing wave 4, which seems to be a running flat pattern (ABC). - While this isn't exactly a zig zag pattern, it's a variation of the zig zag pattern, and part of the larger concept of simple corrections. - For a more in-depth explanation on this corrective trend for the short term, make sure to check out my previous analysis by clicking the chart below: Revealing My Secret Method: Technical Symmetry Analysis Summary I believe that there's an extremely high probability that Bitcoin's bull run isn't over. While December's price action may be rather disappointing, as we're in the process of completing the final corrective wave within a bigger impulse trend, we could expect a parabolic rally as we move towards Q1 of 2022. Using Elliott Waves isn't about accurately predicting the exact price and period of an asset's price action. While a lot of people try to correct each other on "wrong counts", unless the general rules are kept, there really isn't a strictly correct way or incorrect way of using this theory as a tool. In my opinion, Elliott Waves are best used on longer time frames, to identify the overall trend, and which point of the market cycle we are at.
COINBASE:BTCUSDEducation
by Michael_Wang_Official
16