SLPUSD WAVE AND PATTERN ANALYSISWhat is a NEoWave Diametric Formation?
ANSWER:
I discovered this wave pattern around 1992 - two years after Mastering Elliott Wave was published. As a result, it is not mentioned in the book.
A NEoWave Diametric is a 7-legged formation (Triangles are 5 legs, Flats and Zigzags are 3) that does NOT involve an x-wave. As a result, instead of a-b-c - X - a-b-c, I had to continue with the alphabet, labeling it a-b-c-d-e-f-g. The distinguishing factor of a Diametric is the similarity of each wave segment in time and complexity to the other six. In Flats and Zigzags, time and complexity differences are extreme between waves-a, b and c. In Triangles less so, in Diametrics time similarity (not time differences) is the norm.
Diametrics occur in two main categories. One in which a period of expansion is evident during waves-a, b, c and d, followed by a period of contraction for waves-e, f and g. The other is the reverse; contraction occurs first during the first four wave segments, followed by expansion for the remaining three. This creates the look of a bowtie for the first series and a diamond shape for the second.
In the financial markets, in the technical analysis of Elliott wave theory and its different styles, it is like the letters of the alphabet to read the price movement on the chart and it helps us a lot to diagnose and predict the future price.
Many technical analysts are trying to capitalize on Elliott's wave theory in the stock market. This hypothesis states that stock price movements can be predicted; Because the ups and downs of the waves are repetitive.
Elliott Wave Grading
Elliott waves are calibrated with time frames.
Grand Super cycle
Super cycle
Cycle
Primary
Intermediate
Minor
Minute
Minuette
Subminuete
Elliott Wave Theory was developed by Ralph Nelson Elliott to describe price movements in financial markets. Waves can appear in customer behavior and stock price movements. Investors are trying to make a profit from the rising tide.
The theory of Elliott waves was developed by a man named Ralph Nelson Elliott in the 1930s. Until then, the stock market was thought to behave incomprehensibly and accidentally. But Elliott believed that the market actually followed repetitive patterns because people's emotions were repetitive. For example, in the face of fear of loss, all people are salespeople.
This emotional factor shapes behavior in financial markets that is the same throughout history and in all human beings. The effect of these emotions on price charts is also evident. So it can identify these patterns and use this knowledge to analyze the market.
Elliott's wave theory is actually used to describe price movements in financial markets. Investors are kind of riding a wave to profit from market trends. So in the financial markets, every move, regardless of its direction (rise or fall), forms a wave of movement.
Elliott began researching market analysis at age 75, when he retired from illness. He continued his research on the annual, monthly, weekly, and daily index charts and hourly charts he had created. Elliott then described the specific rules governing how to identify, predict, and invest in his own patterns, and named it Elliott Waves. The results of this extensive research in a collection called "R.N. Elliott’s Masterworks ”and was published in 1944 and gained a lot of fans. Elliott Wave International is one of the largest companies in the field of financial market analysis in the world, which is analyzed in the style of Elliott Waves.
Fibonacci One of the good friends is a bargain and shows us good and useful support and resistance, especially if the combination of all types of Fibonacci expansion and retracement and the formation of a Fibonacci and PRZ range show us useful and interesting return ranges. Where there is potential for price diversion
Trend lines can be a great help to a trader who finds areas with potential for return or indeed resistance and support on the chart. By drawing the rand lines correctly, you will see that the price responds to these areas with surprise.
In general priceaction what dynamic trend lines are statically useful
Price Action is one of the attractive trading methods in financial markets such as foreign exchange market, digital currencies, international stock exchange, Iran stock exchange and so on. In this method, the main focus is on the asset price range and its changes, and there is no mention of the various tools we see in technical analysis. By observing the trend of price changes, one can get a relative understanding of the behavior of other traders and market players and consequently the possible trend of price movements in the future.
Price action, like all trading methods, requires training and learning the basics. The purpose of these preparations is to identify the main market trends, price patterns, identify the strength of the trend, identify price candles and .... Join us to learn more about this style of trading and the patterns and methods of trading in Price Action.
At the same time, Price Action offers us various trading strategies, and all of them work only by examining the behavior of the price chart. These strategies are called "Trading Setups" and Pin Bar Setup, Fakey Setup and Inside Bar Setup are a few examples. In the following, to explain more about the price chart space, we will explain these 3 more.
