We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom,
Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns.
I have covered Three chart patterns in this article,
1) Triangles
2) Head and shoulders
3) Double Top and Bottom
1) Head and shoulders:
In addition, the two...
Hello, my dear friends and happy New Year!
I wish you to be healthy and reach all your goals in trading and not only! Never give up on this difficult way which we are going to overcome together!
Today we have a very important topic. How to use Elliott waves instead of classical chart patterns. This is the natural exposure why the chart patterns are garbage. I...
Triangles seem very easy to trade but act differently when it comes to trading.
#Elliottwaves have a very important, genuine, consolidated and beautiful pattern that is #triangle correction.
The structure of the triangle is 3,3,3,3,3. It means the triangle has 5 waves in it and each wave is sub-divided into 3 waves which we call (a,b,c,d,e). After 5 waves the...
This is an educational idea that represents the types of corrections that the triangular marking makes, either bearish or bullish depending on the trend. This can go a long way in various markets so that you can identify where the market is likely to go.
TRIANGLE ARE A PATTERN ON CONSOLIDATION AND ARE THE LAST LEG OF A TREND. GENERALLY BREAKDOWN AND REVERSE JUST LIKE WE RECENTLY SAW IN SBIN.
CURRENTLY WE ARE WAITING FOR WAVE D AND E TO FINISH BEFORE ENTERING A TRADE. WAVE A HIGH IS INVALIDATION OF THE TRIANGLE. IF THAT BREAKS WE ARE LOOKING AT A COMPLEX CORRECTION.
The market isn't giving anything away as usual... what do you think this triangular correction is?
Please leave a comment!
*Disclaimer*
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only.
Do not trade or speculate based solely on the...
Triangle formations always precede breakouts! It is best with cryptocurrency to look for triangles on 4hr or 1hr charts, though sometimes one can find them on 1 day charts.
Like a series of waves getting smaller and smaller until the shape is formed, triangles must have three complete waves to accurately precede a breakout.
Here you can see the three waves...
