Ride the Waves 🌊: Elliott Waves Tutorial 1 - The Fundamentals

Ride The Waves: The Fundamentals

What's goin' on Steamians? How many of you looked up Elliott Wave tutorials and ended up with nothing but shitty advice from shitty traders? How many of you have tried to put into practice what you've seen and completely failed?

Worry no more, my friends! My goal with this series is to help you become a profitable trader in as little time as possible.

Who am I, you may ask? My name is Matt & I'm a financial analyst for a blockchain portfolio management firm. I have been trading for a few years and I have the experience to help you become a truly successful trader.

Anyways, enough about me - let's get into the first tutorial: the fundamentals.

Key Info In This Tutorial

Elliott Wave Theory is the analysis of market behavior. R.N Elliott (the originator of the theory) studied charts for a significant portion of his life and found that these behaviors had patterns

The market travels up in five waves (impulsive pattern - denoted 1,2,3,4,5) and down in 3 (corrective pattern - denoted ABC)

Within each of these waves are another set of Elliott Waves. For example, there are 5 waves within the wave 1. These are what's known as fractals.

There are 3 rules for counting Elliott Waves that you MUST consider:

  1. Wave 2 must not correct more than 100% of Wave 1
  2. Wave 3 is mostly the largest wave, but can never be the shortest
  3. Wave 4 cannot retrace into the zone of Wave 1

There are 3 guidelines for counting Elliott Waves that you should consider:

  1. Rule of Alternation: Wave 2 and 4 will alternate in complexity/ duration (aka if wave 2 is a simple correction, wave 4 will likely be complex)

  2. When Wave 3 is the longest wave, Wave 5 will approximately equal the size of Wave 1

  3. ABC corrections typically end at the 4th Wave of the previous impulse

Check out my other blogs on Bitcoin predictions!

Bitcoin II
Bitcoin I

THANKS FOR READING! PLEASE COMMENT YOUR QUESTIONS SO I CAN GET BACK TO YOU!!

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Hi, nice video, I followed you on youtube too
Check out my blog and follow me too. too too

Will do, @stepanh! Thanks so much for the follow/comment :) I appreciate it

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