smitpatel1

smitpatel1

Hello, friends! I would like to briefly talk to you regarding Elliott Wave Theory and how we can use it to our advantage. Brief history and intro: Ralph Nelson Elliott concluded that the movement of the market could be predicted by observing and identifying a repetitive pattern of waves. Elliott first published his theory in the book titled The Wave Principle in...

smitpatel1

Wave 1,3,5 affect the direction of the market. Wave 1 is usually in form of a leading diagonal. Wave 2 is 50% or 61.8% of wave 1 and it never moves below wave 1. (corrective) Wave 3 is 161.8%-261.8% of wave 1 and is an impulse and never the shortest wave. Wave 4 is usually a flat, triangle, or combination thereof. Currently, we are in a corrective wave (4) in...

smitpatel1

Long on SHIB/SHIBACOIN textbook bullish pennant along with abc correction, consolidating before next run

smitpatel1

On weekly TF price found support at $13.72 in December and broke out of trendline at $20.38 and now is in a pullback stage & could go down to $20.10 (100 EMA) before making a move up.