A π§΅on Elliott Wave π personalities:
Wave 1:
-Rarely obvious at its inception
-Fundamental news is negative, economy weak and sentiment bearish
-Previous trend still strongly in force
-Analysts continue to revise their earnings estimates lower
-Volume may increase a bit but not much
-Rarely obvious at its inception
-Fundamental news is negative, economy weak and sentiment bearish
-Previous trend still strongly in force
-Analysts continue to revise their earnings estimates lower
-Volume may increase a bit but not much
Wave 2:
-Corrects wave 1 (ideal 0.618) but never extend below starting point of w1
-News, economy, earnings still bad
-Bearish sentiment increase during w2 (βbear market is here to stayβ)
-Volume declining in relation to w1
-Structure of correction is in 3 waves
-Corrects wave 1 (ideal 0.618) but never extend below starting point of w1
-News, economy, earnings still bad
-Bearish sentiment increase during w2 (βbear market is here to stayβ)
-Volume declining in relation to w1
-Structure of correction is in 3 waves
Wave 3:
-Largest and most powerful wave
-News now positive, analysts start to raise earnings estimates
-Corrections short-lived, people waiting for dips will likely miss the train
-Crowd often join the party first in the middle of w3
-Volume increasing during w3
-Largest and most powerful wave
-News now positive, analysts start to raise earnings estimates
-Corrections short-lived, people waiting for dips will likely miss the train
-Crowd often join the party first in the middle of w3
-Volume increasing during w3
Wave 4:
-Corrects w3 (ideal 0.382), people understand this being a correction within a trend..
-Wave 4 takes longer time (compared to w2) and may be very frustrating due to complex corrections.
-In general, w4 is characterized by profit taking
-Corrects w3 (ideal 0.382), people understand this being a correction within a trend..
-Wave 4 takes longer time (compared to w2) and may be very frustrating due to complex corrections.
-In general, w4 is characterized by profit taking
Wave 5:
-Final leg in the dominant trend
-News positive and everyone is bullish (βbull market is here to stayβ)
-Fundamental analysts give ridiculous βto the moonβ targets
-Volume lower in w5 compared to w3, negative divergance in indicators
-Final leg in the dominant trend
-News positive and everyone is bullish (βbull market is here to stayβ)
-Fundamental analysts give ridiculous βto the moonβ targets
-Volume lower in w5 compared to w3, negative divergance in indicators
Wave A:
-Difficult to identify compared to impulsiv move
-Fundamental news still positive, many view the drop as correction within bull market..
-Volume is increasing compared to w5
-Difficult to identify compared to impulsiv move
-Fundamental news still positive, many view the drop as correction within bull market..
-Volume is increasing compared to w5
Wave B:
-Price reverse higher and many view this as the resumption of the bull market.
-Fundamental news no longer improving, but most likely have not yet turned negative.
-Volume is declining compared to wA
-Price reverse higher and many view this as the resumption of the bull market.
-Fundamental news no longer improving, but most likely have not yet turned negative.
-Volume is declining compared to wA
Wave C:
-Price reverse down impulsively
-News negative, sentiment is crushed and by the third leg of wC everyone screams βbear market is here to stayβ
-Volume picks up during w3 of C
-Indicators show positive divergance at the termination point of w5 in relation to w3 low.
-Price reverse down impulsively
-News negative, sentiment is crushed and by the third leg of wC everyone screams βbear market is here to stayβ
-Volume picks up during w3 of C
-Indicators show positive divergance at the termination point of w5 in relation to w3 low.
..Hope you are now ready to πββοΈ the π π
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