[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 272 KB, 1446x889, onlywave.png [View same] [iqdb] [saucenao] [google]
8447938 No.8447938 [Reply] [Original]

Please try and draw some elliot waves that follows all the rules. I cant drawing invalid ones. Only wave that follows the fractal nature and non overlapping waves 1 & 4 is this. Its actually bullish even though Im bearish by nature. Dare you to draw me a bearish elliot wave. I cant find one.

>> No.8447960
File: 69 KB, 250x141, 250px-Misty_Psyduck.png [View same] [iqdb] [saucenao] [google]
8447960

>>8447938
>tfw Elliot rogers waves don't fit the chart

>> No.8447997

>>8447938
stop trying to perfect the wave count, that's not how the waves are meant to be traded. There is no correct count, everyone gets different counts.

Use the waves to look at the overall structure of the price movement. Determine if we're in a correction or an impulse. To me, I believe we're in an impulse because we've had sharp big green candles recently.

>> No.8448043

>>8447997
>everyone gets different counts
I usually try to draw all the different counts but this is literally the only one that I could find.

>Use the waves to look at the overall structure of the price movement. Determine if we're in a correction or an impulse.
I agree.

>To me, I believe we're in an impulse because we've had sharp big green candles recently.
Issue with that is it doesnt factor in G20 news. It may not have been organic.

>> No.8448792

>>8447938
Corrective waves are difficult to count. We are in a corrective wave

>> No.8448843

>>8448792
I want to think so too but try and draw the impulse wave that came before?

>> No.8449203
File: 134 KB, 1822x923, 5nAPKtdX.png [View same] [iqdb] [saucenao] [google]
8449203

>>8447938
Your wave 4 and 5 are actually part of a 3x3x3 wave correction downward.
It's also likely that wave 3 of the second uptrend would be much larger than the 1st wave, rather than stopping just above 10.8k.

Also, >>8447997 is how you're supposed to use waves, not use them to predict the price weeks in advance. The big green candle from 7k was the largest since 6k, so it's very likely we're in a new uptrend.