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Working on the idea of a Zigzag pattern for Wave ((2)) in the soybean oil market. In Elliott Wave Theory, a Zigzag pattern is a corrective wave pattern that usually consists of three waves: Wave A: This is the initial decline from 42.68 in 5 wave sequence, setting the stage for the corrective pattern. Wave B: 3 wave corrective rally that follows Wave A. Wave...

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Continuing from our previous analysis (click above image), which alerted us to the probability of a bull trap, the price moved and created a false breakout, then traded back lower to the extreme low swing, thereby confirming the bull trap. Currently, we observe an initial movement to the upside with strong momentum, suggesting that wave 4 may have reached its...

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We observed a price rally that surpassed the extreme swing high of Wave 3. However, at this point, we are only seeing a three-wave advance from the low of Wave 4. It is premature to conclude that Wave 4 has bottomed. To manage our expectations and account for both scenarios, it remains possible that Wave 4 has not yet reached its bottom. The alternate count (in...

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Following the guidelines in Elliott Wave Theory, "The Right Look" we adjust our wave labeling because the proportion of wave 4 is too large to fit within the subwave structure. It is a good sign that the price is rejecting decline at the Fibonacci 38.2% level. Our focus now is on the development of Wave 5. The last wave to complete the Motive...

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Time-consuming sideways movement, tight ranges, and numerous overlaps are all characteristics of a corrective wave. Sideways corrections often tend to retrace 38.2% of the previous impulse wave, particularly when they occur as wave 4. We wait here when the price reaches this level. We will continue to detail the structure once we have a clear picture. For now,...

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Price reached 2.618 fibonacci relationship compare to wave 1. Evaluation based on market structure, we see an extension wave 5 within wave (3) rally. If wave (3) has ended at fibonacci 2.618 area, we expect to see a 3 wave decline for wave (4) correction. Elliott Wave Theory: GUIDELINE OF ALTERNATION WITHIN AN IMPLUSE " If wave two of an impulse is a sharp...

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One of the five ways the wave principle improves trading, wave analysis provides a specific point of invalidation, which is the level at which an interpretation is no longer viable. Knowing when you are wrong is perhaps a trader’s most important piece of information. Market always right, it was my previous operative wave count is incorrect. Adjusting to the...

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FCPO NOV 2024 Price reach equality relationship between wave W and wave Y. What next? Expect to see a downward price movement in a motive sturcture towards 3741. The upper limit for this idea is 3828. Market always right. Anything can happen.

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Reassesment of the current wave structure after price break our invalidation level of our previous idea. As for now, my personal best idea that can be derived from the current market structure is that maybe we area looking at double zigzag formation for november contract. Invalidation for this idea = 3698

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We got our 5 wave down and 3 wave up. But currently price is trading near our invalidation level. As for now, Elliott rules for impusle wave still hold where wave 2 can never retrace 100% of wave 1. Trading above our invalidation level would invalidate the current wave analysis, requiring a reassessment of the wave structure. Alternate count idea: extreme low...

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Continue from previous post. We can see a clear 5 sub-wave structure was observed during evening session. This motive movement to the downside and trading below 3686 strengthen the idea that wave C has complete. *** 5 Wave structure on 1 minute chart. Next, we would like to see a retracement that potentially will bring back price to 3700 area for...

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Continue working with the hypothesis that a running flat was forming in FCPO: We have a clear 5 wave structure advance from extreme low of Wave B giving us indication that wave C maybe complete. If Wave C topped and Running Flat pattern is complete, then we would like to see a downward movement of price toward 3686 level in a motive sequence before we start...

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Working on the idea of flat pattern in play for wave 4 formation on a larger degree. Currently we are in the last wave formation, wave c of flat pattern. Rules for Flat Formation: 1. A flat always subdivides into three waves. 2. Wave A is never a triangle. 3. Wave C is always an impulse or a diagonal. 4. Wave B always retraces at least 90 percent of wave A.

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Wave C of Flat correction in larger timeframe. Invalidation 3686 Expecting price to move higher to complete the last sequence of motive structure. Elliott Wave Rules: "Wave C in a flat correction is always impulse or diagonal."

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INTRADAY ELLIOTT WAVE ANALYSIS CRUDE OIL HOURLY CHART double three pattern for wave 4. Expecting wave 4 to terminate near trendline support. Invalidation must hold for this idea.

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CRUDE OIL HOURLY CHART IDEA: Higher to complete wave 5. Invalidation for this idea is set at 79.37 where wave 4 ends. Expecting price movement toward 38.2% and 61.8% area using Elliott Wave wave 5 projection guideline and channeling technique.

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CRUDE OIL HOURLY CHART Current structure showing that wave 4 is in play. Based on guideline of alternation within impulse wave, we are expecting a shallow/sideway movement for wave 4 and the reasonable target for wave 4 to end is at 38% golden ratio. Invalidation level must hold for this idea. TRADING IDEA: Stay away for now and wait for wave 5 trading setup to...

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DAILY CHART Combination wave 4 completed? What do you think?