Wave analysis fan club - page 64
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Moment of truth
I accessed Nyroba's blog,he tries to use ZigZag indicator to detect waves, but ZigZag is not for waves, although ZigZag is not a bad way to make money without thinking about analysis .Nyroba left the forum because of his ego ... As for thetrader's ego, he has to fight it, if he cannot fight his ego, the market will try to take him over , sohe should not trade,because he hasn't got a chance. Why ? Why? IRIP become interested in this thread? What do the numbers on the screens look like? What matters is the presumed movement with positive results! If you assume that the screenshot is beautifully painted like this but the result is negative, all this beauty is meaningless!
Waiting for the moment of truth!
A ZigZag is a ZigZag.
Need a fractal indicator, with a filter, like "divergence" (exhaustion) =)
Curious to see the beginning of the EURUSD rally.
I doubt, of course, that it is a rally.
Very much like the last drop in July
Speculator ,
tell me,
You see, there's the zero wave. You start catching the first one. How you catch it is irrelevant. Looking for the minimum, that's the first wave.
When do you enter the market?
Speculator ,
tell me,
You see, there's the zero wave. You start catching the first one. How you catch it is irrelevant. Looking for the minimum, that's the first wave.
When do you enter the market?
I think we should start by dropping the term zero... Fifth wave would be more accurate! And you should read this book, the author describes the strategy based on Elliot's wave theory! In my opinion, this is an interesting book!
I think you should start by dropping the term zero-fifth! And you should read this book, the author describes the strategy based on Elliot's wave theory! Very interesting book in my opinion!
I know that zero-fifth is the fifth. I wonder how you see it for yourself
Thanks for the book.
I know that zero is five. I'm curious as to how you see it
Thanks for the book.
Read the book and some questions won't arise!
As for the stops - I gave you a programme that sets the stops and takes (you can move them).
Use it
As for the stops - I gave you a programme that sets the stops and takes (you can move them).
Use it
No
As for the stops - I gave you a programme that sets the stops and takes (you can move them).
Use it
I don't trust programs.
Rule 1.
A correction cannot consist of 5 waves.
If there is a 5-wave fall in the general upward trend, we can state with a high degree of certainty that we are dealing with wave I of a 3-wave (A) (B) (C) fall, i.e. the fall will continue. In a bear market, after a 3-wave rise, the downward trend should resume and a 5-wave rebound is a warning that a more significant upward price movement should be expected. This wave may turn out to be the 1st wave of a bullish trend.
Rule 2.
The base of wave 4 never overlaps the top of wave 1.
Recognition of wave characteristics
Wave 1
Almost half of all first waves originate at the base of the market and are nothing more than a "rebound" from the lowest levels. Wave 1 is usually the shortest of the 5 waves, sometimes very dynamic if it is the base of the market.
Wave 2
Usually passes all or nearly all of the distance travelled by wave 1, but is held above the base of wave 1.
Wave 3
It is usually the longest and most dynamic of all 5 impulse waves. Crossing the top level of wave 1 by wave 3 registers all types of classic breakouts and signals to open long positions. This wave accounts for a sharp increase in trading volumes. Wave 3 may never be the shortest.
Wave 4
This wave has a complex structure; it, like wave 2, represents a correction or consolidation phase, but differs in its structure (rule of alternation) - triangles often appear.
Wave 5
is much less dynamic than wave 3. During this wave, many indicators (oscillators) lag behind the price movement and negative divergences (divergence) appear, warning of an approaching market top.
Wave A
The most convincing signal of the emergence of this wave is a splitting into 5 smaller waves, with an increase in volume corresponding to a decrease in price.
Wave B
This wave reflects upward price "bounce" in a new downtrend. Low volume is typical for it. It forms a "double top". Sometimes it even overlaps the top of wave 5.
Wave C
Often falls well below the base of wave A, in particular, when a trend line is drawn below the base of wave 4 and wave A, a "head-shoulders" appears on the chart.
In principle, Elliott waves are not a bad method of market analysis. The problem is that visually identifying these waves is quite difficult; it requires a lot of experience. Many technical analysis packages automatically find and present information about the expected phase and probability value of the trend in the direction of the wave movement.
Fibonacci numbers - the mathematical basis of wave theory
As Elliott himself admitted, the mathematical basis of the theory is a sequence of numbers discovered by Fibonacci in the 13th century. In his honour his number sequence was called "Fibonacci numbers".
Fibonacci's works were of great importance for further development of mathematics, physics, astronomy and technologies. In his book "Liber Abaci" Fibonacci quotes his sequence of numbers as a solution of a mathematical problem - finding of the formula for reproduction of rabbits.
The numerical sequence is as follows: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 (further on to infinity). The Fibonacci sequence has rather curious peculiarities, not the last of which is almost constant correlation between numbers.
The sum of any two neighbouring numbers is equal to the next number in the sequence. For example: 3 + 5 = 8; 5 + 8 = 13, etc.