Fomenka

RTS - an educational chart

MOEX:RI1!   RTS Index Futures
It is interesting how the same Elliott Wave technique can result in diametrically opposite views. I almost never watch anybody else's charts. I find it distracting and almost ... useless. With the exception of t.me/traderevolution by Andrey Tsvetkov. It happened that I kept it among my Telegram news channels as I like how steady this guy is. He records videos every week sharing his views with detailed explanations.

Despite my respect for his knowledge and for his efforts I almost never agree with the guy. And today I felt that I want to start capturing differences in view and test whose EW technique wins. If I am wrong when the guy is right - I will use it to correct my biases. If I am right most of the time - I will increase my confidence for future trades.

Probably I could backtest my and his ideas to get an instant result - but it just takes too much time.

So, let's see the first example.
Denis technique - grey labels.
I have been bearish on the Russian Market and on the ruble. Last week the market traced a couple of impulse waves down that I now label as ABC in W and then ended the week with a thrust up grilling my shorts. Today I sit in front of the screen and I still refuse to give up the bearish case. When I look at Moving Averages I feel with the back of my skull that the market is bearish and most probably is forming complex nested waves that ultimately will take shape of an ending diagonal.

Andrey Technique - orange labels.
Andrey's projection (orange) has been that this is one big impulse wave in the making. I do not like the way he labelled wave 1 - a leading diagonal but technically looks acceptable. I do not like wave 3 - it does not look right. But certainly what is happening now resembles a triangle as wave 4 in the making.


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