This post is for those who wish to improve their Elliott wave analysis. Interested traders can comment their wave counts. Wave counts will be updated based on the discussion in the comments. Right or wrong, feel free to comment your wave counts. This post is only meant to learn. My wave counts can be right or wrong, as I am also a learner.
Do read my earlier post(link post shared in the related ideas below) where I analysed the bigger picture of BTC's correction.
Here are some resources for learning Elliott wave theory -
Books :
Five waves to financial freedom by Ramki N. Ramakrishnan(I am currently reading this)
Elliott wave principle by A.J.Frost and Robert Prechter
Mastering Elliott wave Principle by Constance Brown
Online :
elliottwave-forecast.com/elliott-wave-theory/
school.stockcharts.com/doku.php?id=market_analysis:introduction_to_elliott_wave_theory
school.stockcharts.com/doku.php?id=market_analysis:identifying_elliott_wave_patterns
school.stockcharts.com/doku.php?id=market_analysis:guidelines_for_applying_elliott_wave_theory
bullwaves.org/complete-guide-elliott-wave-correction-patterns/
thebalance.com/elliott-wave-tricks-to-improve-trading-4153295
Do read my earlier post(link post shared in the related ideas below) where I analysed the bigger picture of BTC's correction.
Here are some resources for learning Elliott wave theory -
Books :
Five waves to financial freedom by Ramki N. Ramakrishnan(I am currently reading this)
Elliott wave principle by A.J.Frost and Robert Prechter
Mastering Elliott wave Principle by Constance Brown
Online :
elliottwave-forecast.com/elliott-wave-theory/
school.stockcharts.com/doku.php?id=market_analysis:introduction_to_elliott_wave_theory
school.stockcharts.com/doku.php?id=market_analysis:identifying_elliott_wave_patterns
school.stockcharts.com/doku.php?id=market_analysis:guidelines_for_applying_elliott_wave_theory
bullwaves.org/complete-guide-elliott-wave-correction-patterns/
thebalance.com/elliott-wave-tricks-to-improve-trading-4153295
Not
Updated wave counts - Not
Wave 3 in the above chart has not topped yet.Not
Not
I considered the divergence of RSI and volume while fixing wave 3 top. The market can be pushed a little higher with divergence in RSI and volume.Not
Doubts to be clarified : 1) Can a wave 3 be more than 1.618 times the length of wave 1 and wave 5 be an extended wave? Which means wave 5 will be longer than wave 3.
2) How to identify whether wave 1 is extended or not before formation of wave 3?
Not
Not
This may be correct oneNot
Not
Not
Complete sentence in the above chart - If this minute wave c ends below 10200, we can consider sub wave c of wave B has been finished and wave C has started.Not
Doubts clarified : I found these answers after further reading the book(in chapter 8)Answer to 1st doubt : Yes
Answer to 2nd doubt : If the sub wave 3 of wave 1 is extended, then we can consider wave 1 to be an extended wave. Now this gave me another doubt.
Not
Doubt to be clarified:3) Can we have sub wave 3 of wave 1 extended and doubt 1 at the same time?
Not
Not
I think we should be looking at another type of wave countNot
Not
back to the first case - Not
Bearish outlook - Not
Bullish outlook - first target - Not
Updated wave count - Not
A breakdown is about to happen and the nearest support is at 11000 usdNot
It found strong support at 10650 usd. Which makes it a tight consolidation just below 12000 resistance. It is about to break 12000 usd. Next target to look for - Not
Bullish outlook - Not
Bullish outlook - Not
The above chart is a bearish outlookNot
If breaks above 11800 usd, not going to see prices below it for a whileNot
Not
Not
Not
Now zoom in
Not
I think I should have waited for the wave b to form completely - Not
Not
Not
In the above, I showed the possibility of an ABC correction instead of an ABCDE correction
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.