I started to assemble own ibrary of ElliottWave patterns and rules.
Here simple zigzags occured in: wave W and wave Y of WXY double zigzag
Zigzag 1 - wave W
Wave A - leading diagonal
Wave B - double zigzag
Wave C - ending expanding diagonal ending at the top line of the parrallel channel
Zigzag 2 - wave Y
Wave A - impulse
Wave B - double zigzag
Wave C -...
ZIGZAG Pattern is made up of 3 waves were Wave A has 5 impulse waves, Wave B has 3 corrective waves, and Wave C has 5 waves. Our main focus is riding Wave C once wave B finishes its retracements to fibonacci levels. Ideally, Wave A = Wave C. This means if Wave A made 20% move, Wave C should do the same.
Learn how to trade ZigZag with pending orders. Open Pending Orders on both the ends of current consolidation zone and yake profit at the end of ZigZag.
ZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes.
ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings.
ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item.
It is only based...
Zigzags (5-3-5)
Zigzags and their complex combinations are the only corrective patterns which can temporarily “resemble” Impulsive patterns. To avoid misinterpretation, very specific limits must be placed on zigzag behavior. Below are the minimum requirements which allow a pattern to be categorized as a zigzag:
The A-wave should not retrace more than 61.8% of the...
It is important to remember that just because you have a completed zig zig, you do not necessarily have a completed correction... it could only just be the beginning. Please like and follow if helpful. Cheers!
Here I'd like to share my favourite entry method.
The chart is self explanatory.
Let me know if you have any questions ....
This will happen during Wave 3 and Wave 5 (for those who subscribe to the Elliott Wave theory)
This pattern is sometimes called the Retrace, the Dip, the Pullback, the ABC correction, the ZigZag. The BOMB (by guerilla guys)
●●● 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜 (SZ or ZZ)
❗❗ 𝙍𝙪𝙡𝙚𝙨
● A zigzag always subdivides into three waves.
● Wave A always subdivides into an impulse or leading diagonal .
● Wave C always subdivides into an impulse or ending diagonal .
● Wave B always subdivides into a zigzag, flat , triangle or combination thereof .
● Wave B never moves beyond the start of...
The Fibonacci Channel is a technical analysis tool that is used to estimate support and resistance levels based on the Fibonacci numbers. It is a variation of the Fibonacci retracement tool, except with the channel the lines run diagonally rather than horizontally.
The tool is used to aid in identifying where support and resistance may develop in the future. If...
