Hi Friends, I have left the above Nifty chart without proper description on purpose. Just take a look at the chart, if you can understand why those lines are drawn, its fine. If you don't then also its perfectly fine. But whats not fine was,taking trade decisions without knowing what those lines where.Do you think complex systems are better than simple trading...
Hi Guys ! This post will be different from my usual style. Its gonna be combo of how to use Elliot waves to our advantage and trade setups also explained. So this will be Learn n Earn Series, just an info before jumping into analysis, please note that I follow My own style of Elliot rules which is slightly different from primary Elliott rules. I have modified...
For my newer followers or those that missed this post previously, here's a generic trade plan explaining all those horizontal lines on my charts. Notes on the image should be self-explanatory. Minor and minute waves are shown, but this method can be used on any time scale / Elliott Wave degree. Learn more about trading Fibonacci Pinball from the pros at...
Waves 2 and 4 within an Impulsive wave will unfold in different forms: if wave 2 is a simple ABC form ( zigzag), the 4th wave is likely to be a complex wave (triangle, double three etc.)
"Running correction usually elliott wave 2 or 4 Strong impulse move should follow."
These rules can not be change or fixed at any circumstances.
Some basic "guidelines" about Elliott Waves. I hope that somehow help to understand how the market really moves. This is an "update" to my previous published educational chart about Elliott Waves - link below Safe trades;
FX:EURUSD Notes for beginners; Safe Trades; open.spotify.com
Hello, i want to share with you my prefered areas where i look for setups using EW. This is a simplified chart of an impulse followed by a correction. Sometimes its as simple as that, sometimes is very complex. Since i started using EW i found very profitable setups real-time. Im showing an example for each setup below. Our work is to find a clear wave...
iMPULSE LEG: Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave 1 gains; Can never exceed the start of wave 1); wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave); wave 4 = 38.2% of wave 3 (can never overlap wave 1 ); wave 5 = wave 1 CORRECTiON: Wave A = usually around the 50% or 61.8% of wave...
It's not a trading idea, more of a a history lesson :-) Today while browsing the web I stumbled upon a well known story how Soros and his friends heavily shorted the Pound in 1992 and forced the government into surrender, pocketing more than a billion USD of gains. For the British Pound, this can largely be viewed as a black swan event - however, if we look at...