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Zigzagcorrection

💨𝙀𝙒 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜🌊●●● 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜 (SZ or ZZ) ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● A zigzag always subdivides into three waves. ● Wave A always subdivides into an impulse or leading diagonal . ● Wave C always subdivides into an impulse or ending diagonal . ● Wave B always subdivides into a zigzag, flat , triangle or combination thereof . ● Wave B never moves beyond the start of wave A . ● Wave B always ends within the price territory of wave A . ● Wave C almost always ends beyond the end of wave A . (failure to comply with this requirement is called «truncation» * * Guideline, but should be followed as a rule ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● Wave C should not fail to reach the end of wave A by more than 10% of the length of wave A . ● In a zigzag, the length of wave C is usually equal to that of wave A , although it is not uncommonly 1.618 or .618 times the length of wave A (rarely 2.618 ) ● Wave B typically retraces 38 to 79 percent of wave A . ● If wave B is a contracting triangle, it will typically retrace 38 to 50 percent of wave A . ● If wave B is a running contracting triangle , it will typically retrace between 10 and 40 percent of wave A . ● If wave B is a zigzag, it will typically retrace 50 to 79 percent of wave A . ● In a zigzag, if wave A is a leading diagonal , then we would not expect to see an ending diagonal for wave C . ● A line connecting the ends of waves A and C is often parallel to a line connecting the end of wave B and the start of wave A . (Forecasting guideline: Wave C often ends upon reaching a line drawn from the end of wave A that is parallel to a line connecting the start of wave A and the end of wave B .) Elliott Wave Principal 2005 and Q&A EWI.
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
4
Tesla Returns to $50. No Pain, No Gain!Since 2019, Tesla has enjoyed a 1993% increase in value (from $44 to $900) thanks to Elon's cult following and an undeniably great line of products. While well deserved, the Tesla train has just completed is 5th Wave of Primary Wave 1. With Tesla euphoria at an all-time high, Wave 2 has quietly begun to initiate its sharp push downward. In anticipation of the likely zig-zag (535/ABC) correction, we can begin to calculate a potential target for the end of Wave 2. As many of you know, the formation of a zig-zag develops as 5(A) waves down (in this case), 3(B) waves up and another 5(C) waves down (typically of the same length as Wave A). With a tentative calculation of Wave A reaching the $150-$175 zone, that equates to roughly a $700 drop from the $900 ATH range. Considering price action's wide view outlook, it can be presumed that B (3 waves up) makes a return to $725-$750. From this range we can subtract the length of Wave A (roughly $700) and find a target around the range of $30-$50. This price range also equates to 1.618 of A (another common target for C wave; with 100% of A and 1.618 of A landing in the same zone, we can become a bit more confident in the assumption). $30 - $50 would also be in the range of both 0.50 and 0.618 Fibonacci targets, also common zones for Wave 2 to come to an end.* *Fibonacci targets based on the run from $3 to the $900 range (Wave 1).* Based on these findings, I believe Tesla's stock price will go under $150 in the first half on 2022 and then under $60 in 2023-2024; price targets we will likely never see again post correction.
NASDAQ:TSLAShort
by DigitalSurfTrading
24