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modern Elliott Wave Traders (MEWT) ️

modern Elliott Wave Traders (MEWT) ️

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Why modern Elliott Waves We have a different approach to the Elliott Wave Forecasting technique that is unique and simple to an otherwise complex system.   Wave theory is an intuitive theory and does not require mathematical or scientific background.

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Educational Post: 📈 Elliott waves: Waves and Fibonacci Level ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ 💾 Save for future reference ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
Educational Post: 📈 Elliott waves: Waves and Fibonacci Level ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ 💾 Save for future reference ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ✅Fibonacci retracement level are very powerful when combined with Elliott waves. ✅ The only wave we can’t apply the fibonacci measurement to, is wave 1 as it is the first movement. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ Very common levels for Waves are: ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ 🔹 Wave 2 = 61,8% of Wave 1 🔹 Wave 3 = 161% - 261% of Wave 1 🔹 Wave 4 = 38,2% of Wave 3 🔹 Wave 5 = 100% of Wave 1 ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ✍ When looking for an entry before Wave 3, it is best to look for the end of Wave C of Wave 2 around the 61% Fibonacci level. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ✍ Wave 3 could also be 100% of Wave 1, then Wave 5 is most likely extended. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ❗️Normally Wave 2 corrects deeply and Wave 4 is more shallow, often only reaching the 38% Fibonacci level. 📝📝📝 ⠀⠀⠀⠀⠀⠀⠀⠀
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Educational Post: Ending Diagonal ✍ ✍Can also manifest as the final Wave C in an ABC Correction. ✍Rules💥 ● Wedge shape with
Educational Post: Ending Diagonal ✍ ✍Can also manifest as the final Wave C in an ABC Correction. ✍Rules💥 ● Wedge shape with contracting trendlines. ● Wave 4 overlaps with Wave 1 but does not exceed the start of Wave 2. ● Wave 1 is the longest, and Wave 3 cannot be shorter than Wave 5. ● Structure is typically 3-3-3-3-3, with each wave subdividing into a ZigZag a-b-c or w-x-y. ● Can be the 5th wave of an impulse or a Wave C of an ABC Correction. ✍ Often, the Ending Diagonal exhibits fake breakouts above/below the wedge forming trendlines. 💥 This reversal pattern is usually accompanied by clear divergence. Trade with us 👇 @Modernwaves
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