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    EUR/USD Price Analysis: Seems vulnerable near mid-1.0500s amid geopolitical tensions

    EUR/USD Price Analysis: Seems vulnerable near mid-1.0500s amid geopolitical tensions

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    Australian Dollar extends gains on higher commodity prices, geopolitical tension in the Middle East

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    Markets turn cautious as focus shifts to US data, FOMC Minutes

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    Dollar soars on hopes the US could avoid recession despite the aggressive Fed

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    Putin allows Russian banks under sanctions to halt some FX operations

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    Australian Dollar Dips as US Dollar Rallies After Israel Attack. Lower AUD/USD?

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    AUD/USD Rises Despite Wall Street Selloff as Chinese Flooding Lifts Coal Prices

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    Euro Forecast: EUR/USD Outlook Bleak as Traders Rush for US Dollars

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    IG CLIENT SENTIMENT DATA SENDING BEARISH SIGNALS FOR USD/ JPY, AUD/USD, GBP/ USD

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    Abu Dhabi’s oil champion ADNOC bets on global expansion

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    Oil prices jump as Middle East violence rattles markets

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    Panamanian trade unions reach agreement with government on essential commodities

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    Dollar surges and stocks tumble as traders weigh global growth outlook

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    Can commodities make a comeback?

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    CME looks to lure retail traders with daily options frowned on in Europe

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    EUR/USD Price Analysis: Seems vulnerable near mid-1.0500s amid geopolitical tensions

    EUR/USD Price Analysis: Seems vulnerable near mid-1.0500s amid geopolitical tensions

    Australian Dollar extends gains on higher commodity prices, geopolitical tension in the Middle East

    Australian Dollar extends gains on higher commodity prices, geopolitical tension in the Middle East

    Proof-of-Stake-powered Cryptocurrency COSMOS Launches on 1xBit

    Proof-of-Stake-powered Cryptocurrency COSMOS Launches on 1xBit

    Markets turn cautious as focus shifts to US data, FOMC Minutes

    Markets turn cautious as focus shifts to US data, FOMC Minutes

    Dollar soars on hopes the US could avoid recession despite the aggressive Fed

    Dollar soars on hopes the US could avoid recession despite the aggressive Fed

    Putin allows Russian banks under sanctions to halt some FX operations

    Putin allows Russian banks under sanctions to halt some FX operations

    South Korea probes $3.1bn crypto-linked forex transactions

    South Korea probes $3.1bn crypto-linked forex transactions

    All ‘Ethereum killers’ will fail: Blockdaemon’s Freddy Zwanzger

    All ‘Ethereum killers’ will fail: Blockdaemon’s Freddy Zwanzger

    Paraguay’s crypto framework one step away from becoming law

    Paraguay’s crypto framework one step away from becoming law

  • Education
    Q4 Trade Opportunity: EUR/CAD Long-Term Reversal as Oil, Inflation Rise

    Q4 Trade Opportunity: EUR/CAD Long-Term Reversal as Oil, Inflation Rise

    Australian Dollar Dips as US Dollar Rallies After Israel Attack. Lower AUD/USD?

    Australian Dollar Dips as US Dollar Rallies After Israel Attack. Lower AUD/USD?

    AUD/USD Rises Despite Wall Street Selloff as Chinese Flooding Lifts Coal Prices

    AUD/USD Rises Despite Wall Street Selloff as Chinese Flooding Lifts Coal Prices

    Euro Forecast: EUR/USD Outlook Bleak as Traders Rush for US Dollars

    Euro Forecast: EUR/USD Outlook Bleak as Traders Rush for US Dollars

    RAND UPDATE: ZAR STRENGTH MAY BE SHORT LIVED AHEAD OF BUDGET SPEECH

    RAND UPDATE: ZAR STRENGTH MAY BE SHORT LIVED AHEAD OF BUDGET SPEECH

    CRUDE OIL PRICES MAY RISE ON US STIMULUS HOPES

    CRUDE OIL PRICES MAY RISE ON US STIMULUS HOPES

    IG CLIENT SENTIMENT DATA SENDING BEARISH SIGNALS FOR USD/ JPY, AUD/USD, GBP/ USD

    IG CLIENT SENTIMENT DATA SENDING BEARISH SIGNALS FOR USD/ JPY, AUD/USD, GBP/ USD

    EUR/AUD BREAKOUT COULD GROW LEGS

    EUR/AUD BREAKOUT COULD GROW LEGS

    CHINESE YUAN (CNH) DRIVING CURRENCY MARKETS; HOWEVER, TRUMP RISK REMAINS

    CHINESE YUAN (CNH) DRIVING CURRENCY MARKETS; HOWEVER, TRUMP RISK REMAINS

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    Abu Dhabi’s oil champion ADNOC bets on global expansion

    Abu Dhabi’s oil champion ADNOC bets on global expansion

    Oil prices jump as Middle East violence rattles markets

    Oil prices jump as Middle East violence rattles markets

    Panamanian trade unions reach agreement with government on essential commodities

    Panamanian trade unions reach agreement with government on essential commodities

    Dollar surges and stocks tumble as traders weigh global growth outlook

    Dollar surges and stocks tumble as traders weigh global growth outlook

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    Can commodities make a comeback?

    CME looks to lure retail traders with daily options frowned on in Europe

    CME looks to lure retail traders with daily options frowned on in Europe

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    The traders earning $6m+ outside banks and hedge funds

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

    CFTC eyes potential oversight of cryptocurrencies, carbon trading – commissioner

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    Palladium: Completely Reverse The Rumors for a Bubble Burst

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    Crypto’s decentralization problem: The word is used too often to justify bad product decisions

    Crypto’s decentralization problem: The word is used too often to justify bad product decisions

    Bitcoin Is Set to Thrive in October—No Matter Where Rates Go, Analyst Says

    Bitcoin Is Set to Thrive in October—No Matter Where Rates Go, Analyst Says

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    Ripple Is Considering Buying Bankrupt Crypto Lender Celsius’ Assets: Report

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    Yen shorts crumble as hot FX trade comes to end

    Brevan Howard Scores Largest Crypto Hedge Fund Launch Ever

    Brevan Howard Scores Largest Crypto Hedge Fund Launch Ever

    Crypto Is Coming to Esports: The Games and Economics of Tomorrow

    Crypto Is Coming to Esports: The Games and Economics of Tomorrow

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    Singapore’s crypto aspirations shaken by Three Arrows collapse

    Crypto exchange Coinbase looks to expand footprint in Europe

    Crypto exchange Coinbase looks to expand footprint in Europe

    How ETF investors can bet on the crypto crash

    How ETF investors can bet on the crypto crash

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Summary: Elliott Wave Theory

poweradmin by poweradmin
October 1, 2020
Home Education
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Here’s a summary of what we covered regarding the Elliott Wave Theory:

Elliott Waves are fractals.

  • Each wave can be split into parts, each of which is a very similar copy of the whole. Mathematicians like to call this property “self-similarity”.

A trending market moves in a 5-3 wave pattern.

  • The first 5-wave pattern is called impulse wave.
  • One of the three impulse waves (1, 3, or 5) will always be extended. Wave 3 is usually the extended one.
  • The second 3-wave pattern is called corrective wave. Letters A, B, and C are used instead of numbers to track the correction.
  • Waves 1, 3 and 5, are made up of a smaller 5-wave impulse pattern while Waves 2 and 4 are made up of smaller 3-wave corrective pattern.
  • There are 21 types of corrective patterns but they are just made up of three very simple, easy-to-understand formations.
  • The three fundamental corrective wave patterns are zig-zags, flats, and triangles.

Three Cardinal Rules

There are three cardinal rules in Elliott Wave Theory when labeling waves:

Rule Number 1: Wave 3 can NEVER be the shortest impulse wave

Rule Number 2: Wave 2 can NEVER go beyond the start of Wave 1

Rule Number 3: Wave 4 can NEVER cross in the same price area as Wave 1

If you look hard enough at a chart, you’ll see that the market really does move in waves.

Because the forex market never moves in text book perfect fashion, it will take many, many hours of practice analyzing waves before you start to get comfortable with Elliott waves.

Stay diligent and never give up!

Tags: Elliott Wave Theory
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