Are there any wave traders here? - page 12
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Fibo on 3 waves , different periods.
Presumably, the market starts a correction, the 4th W does not go beyond the 1W price range (the yellow marking), therefore the 5th one is formed and correction is in progress. And we do not exclude a diagonal triangle (expanding), where the 4th W goes beyond the 1W, but never beyond the beginning of the 3rd W.
We can assume a Zig-Zag 5-3-5, if the market will trade below 75% (fibo) 2275 , it can be regarded as a discredit to the upside movement, an option to trade above 61.8% fibo or S/SR 2400-2460 area = keeping the upside potential.
Is this about Elliott waves? Quackery. One of the...
Why so, any theory has the right to exist - as long as it is not disproved.
For example: - there used to be a theory, perhaps even an assertion, that the earth is flat.
Elliott's wave theory, also has the right to exist, until Copernicus came along.
Well, everyone knows how to reason on history, draw nice lines, "assume" further movement, etc. etc.
But where are the entries and exits? Why there? Where are the stops and takeoffs?
There are a lot of questions without answers, just guesses. "Maybe it's a dog, maybe it's a five-wave wave, maybe it's ABC (evil), maybe it's not. )))
Well, everyone knows how to reason on history, draw nice lines, "assume" further movement, etc. etc.
But where are the entries and exits? Why there? Where are the stops and takeoffs?
There are a lot of questions without answers, just guesses. "Maybe it's a dog, maybe it's a five-wave wave, maybe it's ABC (evil), maybe it's not. )))
In Elliott theory, inputs and outputs are not the most important thing.
In Elliot theory, entries and exits are not the most important thing.
Hello. Here we are. What's important? How to trade? Just a general understanding of the market, but no entries and exits?
Hello. Here we are. What's important? How to trade? Just a general understanding of the market, but without all the ins and outs?
Well, the theory is simple, five waves in one direction - then three waves of pullback. No word on entries and exits.
Well , the theory is simple , five waves in one direction - then three waves of pullback. No mention of entries and exits.
It depends on how you count them. As it is, there are only five-waves in either direction and three-waves are very rare.
Any Bayesian impulse can be called a Sellovian pullback. And vice versa.
how do you know it's the third one?
https://www.mql5.com/ru/blogs/post/715003 after the article open the current chart and see how it worked out. according to my data point to point) I have a signal in my profile where I trade on wave patterns including