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:
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
#gbpusd all tps done🙏🙏🙏🔵🔵🚀✅🔥🔥
"The Elliott Wave Principle is a powerful tool for understanding market behavior. It reveals the fractal nature of price movements, allowing us to identify recurring patterns and anticipate future market trends. By recognizing the rhythm of alternating waves of expansion and contraction, we can gain insights into investor psychology and make informed trading decisions. While not infallible, the Elliott Wave Theory offers a framework for navigating the complex dynamics of financial markets and finding opportunities within the chaos."
@Modernwaves
Bitcoin Daily chart✍✍✍💥💥💥🌪🌪 now price is moving up bullish sequence, expecting five wave up 🚀🚀🙏💥✅🔥❤️💫💰✍
Free chart updates shared✅💰💰✅💥❤️💫
Bitcoin Daily chart✍✍✍💥💥💥🌪🌪 now price is moving up bullish sequence, expecting five wave up 🚀🚀🙏💥✅🔥❤️💫💰✍
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Bitcoin Daily chart✍✍✍💥💥💥🌪🌪 now price is moving up bullish sequence, expecting five wave up 🚀🚀🙏💥✅🔥❤️💫💰✍
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Sell now gbpusd @1.35065
Sl :1.35576
Tp1 : 1.34600
Tp2: 1.34000
Use proper risk management ( maximum risk 1% of your capital)
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#gbpusd 1hr chart zigzag pattern , we will be looking for selling this week to the fibozone ✍❤️
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#gbpusd 4hr chart zigzag pattern , we will be looking for selling this week to the fibozone ✍❤️
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Sell gold @4332.07
Sl 4406.67
Tp1, 4250.00
Tp2, 4160.00
Use Proper risk managment ( maxim risk 1% of your capital)
+3
Elliott Wave Zig Zag Pattern - A-B-C Corrective Structure
1. ZigZag Structure: A-B-C
As shown in your image:
- Wave A = 5 waves: Sharp move down. This starts the correction
- Wave B = 3 waves: Small bounce up a-b-c. It looks like the trend is coming back, but it’s a trap
- Wave C = 5 waves: Sharp move down again and breaks below the end of A. This is where the correction ends
That’s why it’s called a 5-3-5 structure
2. The 3 Key ZigZag Rules
On the right side of the image:
1. B cannot move beyond the start of A - If it does, it’s not a ZigZag
2. Wave C ends beyond the end of wave A - C must make a new low below A
3. Overall structure: 5-3-5
3. What it means for trading*
Look at the bottom of the image: BUY DIRECTION
Meaning: Once C finishes and price starts moving up, the main trend resumes. That’s the best place to enter a BUY trade.
Pro Tip: Most traders get trapped in Wave B. It looks like the trend is reversing, but then Wave C comes and makes a lower low.
