LTCUSD --- ELLIOT WAVES APPLIED

Alot of learning and applying!! Woo!

Any pros looking Id appreciate the feedback!

DISCLAIMER: THIS IS FOR ENTERTAINMENT AND EDUCATIONAL PURPOSES.

I checked my waves and they seem to be good.

Yorum:

So this is basically an educational journal for myself as I learn new concepts. Last night i got all wrapped up in Elliot Waves (FREAKING AMAZING THEORY). Still have yet to fully understand all the different ones but here goes; a summary of what i learned.

Impulse wave (upward trend): Has 5 waves usually but can extend to 8 in some scenarios. ***Rules are RULE 1: Wave 2 should never retrace Wave 1 by 100%; RULE 2: Wave 3 should never be shorter than 1 and 5; RULE 3: Wave 4 must never overlap or coincide with the price at the peak of Wave 1.

Downward Diagonal (downward trend): Has 3 waves A B C. A is made up of 5 waves, B is made of 3, and C is another 5 following the same rules discussed above but in reverse.

That's as far as I got without getting too into the flat wave correction which I'm still learning about. Call me out on my mistakes! Lets learn together!

GO OUT THERE AND TRY TO CHART YOUR ELLIOT WAVES!!