🔴 1-2-3 ELLIOTT WAVE (Simplified Guide) - The easiest way to MASTER Elliott Wave Theory
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- Опубликовано: 28 апр 2024
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1-2-3 ELLIOTT WAVE (Simplified Guide) - The easiest way to MASTER Elliott Wave Theory
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Elliott Wave Price Action Trading Strategy
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Step #1 Wait until you can spot at least a 3 wave Elliott Wave sequence.
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The first step in the Elliott Wave strategy is to wait until you can identify a 3 wave sequence. The good thing about the Elliott Wave strategy is that it doesn’t require any technical indicator as it’s a pure price action strategy. Trading in the direction of the trend, the goal is to capture the last wave 5. To do this, traders must observe the first 3 waves of a five-wave pattern and verify that they comply with Elliott Wave rules. For instance, in a bearish Elliott wave count, the wave count must adhere to the rules for the Elliott Wave strategy, allowing for a sell setup. Once this is established, the next step is to search for the Elliott Wave entry points.
Step #2: BUY Between 50% and 61.8% Fibonacci Retracement of Wave 3
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According to one of the main rules of Elliott Wave theory, ideally, wave 4 should retrace between 50% and 61.8% of the Fibonacci retracement of wave 3. To avoid missing out on potential movements, we set our entry point for Elliott Wave between 50% and 61.8% based on price action signals formed in that area. In many cases, bullish engulfing and bullish pin bar patterns often appear in this area. However, experience can help refine this entry point for better accuracy.
Step #3: Set the Protective Stop Loss a few pips below the swing low.
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It is advisable to place your stop loss a few pips below the recent swing low. This is because this position ensures that your stop loss is not too large or too small. The purpose of this is to help you achieve your Money Management target, which is a Risk Reward Ratio of 1:3. After setting the protective stop loss, the next crucial aspect of the Elliott Wave strategy is to determine the profit-taking strategy.
Step #4: Decide when to take profit based on your Stop Loss.
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Once you have determined your Stop Loss level, it is important to set a profit target that is three times the size of your Stop Loss. This ensures that, in the long run, your trades will remain profitable.The beauty of the Elliott Wave strategy is that it allows for experimentation and the development of unique trading approaches. Once you have a solid understanding of how to trade using Elliott Wave principles, you can create multiple strategies that work best for you. As such, there is no specific take-profit strategy that applies to every Elliott Wave structure. The strategy is flexible because every structure is different and maximizing profits requires adaptability.
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1-2-3 ELLIOTT WAVE (Simplified Guide) - The easiest way to MASTER Elliott Wave Theory
A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth not less than $300,000 before I turn 60, I would appreciate any advice on potential investments.
I've been in touch with a financial advisor ever since I got into the market. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $700k in a little over a year, my adviser chooses entry and exit orders.
@@MichaelJeffersonn Mind if I ask you to recommend this particular professional you use their service? i have quite a lot of marketing problems.
@@jerrygibson222 My advisor is JEFFREY HAROLD STARR, a renowned figure in his line of work. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks a lot friend.
I was searching for 5 moves practicing videos, eventually I found yours .
I hope to get a complete course on Elliott wave theory in your channel.
I am completely focused on learning Elliot wave theory to master the price action.
I think your style of teaching will help me a lot .😊
@2:17 the corrective (red line is on a 5, instead of the four...) Cheers! Thanks for the great info!
very helpful and educative, thanks.
@TraderDNA is the best. I having been trying to understand Elliot Wave Theory for some times now. No vidoes gave me excellent explanation than what you guys have done. Kudos !
I have been trading for about 6 months now and just about every trade backfires and slaps me in my face. Nearly impossible for me to catch more than a few points I try to do top down analysis but it doesn't work for me . I say to myself, clearly I'm in the 90% that lose money, so I open a demo account, do my analysis, then take the opposite of what I would normally take and get the same result. I'm starting to feel hopeless, any advice for a struggling trader?
Your problem could be your stop loss is too close or you're watching your trades too much. Place it and walk away. Or you could just give up, trading isn't for everyone.
@@barbel.barbie Don't listen to her, don't give up. Trading takes time(months, even years) to master, even the pros learn everday. Never the less, if you lose money no matter which side you take, maybe you need to look at how you are managing active trades rather than how you are entering them. My advice, find a mentor . And also, try incorporating the use of oscillators, Bollinger and pivot points into your strategy. And most importantly move to higher TFs(4h or 1D preferably), you'll thank me later.
@@williamwestfield68 You're correct, I don't lose money every single trade, but my main problem is trying to let my runners run. Very rarely do I catch big moves . Instead they go a few pips in my direction, then go against me if when I try holding them. Also my entries could use a lot of improvement. A mentor would be amazing, but getting one is easier said than done. If it's not too much to ask, do you know any legit ones?
@@asadchong The Professional account managerI'm in touch with is Sarah Pam Alderson which i don't like sharing lol. You can use something else, for me her strategy works hence my result. she provides entry and exit point for the securities I focus on.I got to know her and we exchanged emails and also made multiple of my start up capital within couple of months. She is licensed and quite experienced, out there to help new traders.
@@williamwestfield68 I think I have seen this name on a trading forum before, on discord one time, She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; I see she got her own channel on here on youtube but anyway thank you for sharing.
hi, tks for sharing
can we also find the wave in lower time frame?
Thank you!
Thanks for the great info!
great explanation, thank you
thanks you 100% to help
what is the best time frame to look for Elliott waves
Thank you Sir for your valuable information
This is the very first video I've watched on elliott wave strategy and I swear I already understand it like a pro. Mind you I'm only a beginner trader. Thank you so much 🙏. I have definitely subscribed to your channel. Very educative. Thank you sir or madam
Thanks sir 🎉
why disney one, you have 3 shorter than wave 1 ? 12:41
thanks for reply
what time frame suits for this indicator?
12:30, the 3rd wave is the shortes from the waves 1, 3, 5, which is a clear violation of the EW theory rule, isn't it?
That’s what I was sitting here saying to myself. I was like wtf wave 3 can’t be the shortest ..
Dear the wave number 4 of correction must doesn't increase wave 1
Could you share advance level elite wave theory trading strategy. Thank you in advance.
Same here,bigger time-frames dominate!
Excellent
Thanks
Structure is the king
11:45 classic example of how u can make people get confused. There is a ton of waves right there to be a possible wave 5, and he put it right at the top haha
I feel like this would be perfect with the zig zag indicator.
Thanks Sir
In Alibaba stock which you were showing have wave 4 entered in to wave 2 region. Is that true to have wave 4 to enter into wave 2 region ?
thanks sir
I have been trading for a long time and I have my own wave theory and practices which are extremely profitable.
Yesterday someone was talking about Elliot Waves and watched this video. As an experienced trader I can tell that Elliot was on the right track with his wave theory, given that my theory which outperformance Elliot Waves is close to it. When this theory was designed there were probably not such strong computers as nowadays to backtest theories and refine a theory. I have refined this theory in how to trade at which pricepoints and how to maximise profit. It is good that we design new theories, so the NeuroWave theory I designed is better and I might publish it one day for everyone!
Yeah that would be greatly appreciated hahaha. Good for you though :)
Teach me
In an impulse pattern wave 4 cannot enter wave 1 territory, what's going on here? You are showing different rules, no?
Correct me if I’m wrong but wave 3 on the Disney example failed the Elliot wave test that wave 3 must never be the shortest wave.
That was a test! You passed!!!!!😂❤
@@dualmass 🤣
youre saying wave 4 should retrace from 38.20% to 50%, but while showing in the charts you are marking from 61.8% to 50%, please clarify what is should be..... between 38.20% to 50% OR 61.8% to 50%??
Sir one request do one video on option scalping on 5 min chart
@KATHIMORGAN1 is her user name for help.
nice
Thank You Sir.🙏🏻🙏🏻🙏🏻
Please make a powerful scalping video based on M1, M5 Timeframe.
Because we are doing full time Job.
And not time to analysis any pairs.
Daily intraday stock ke bhi analysis sikha do sir
Geil!
Fibo+EWC = such a powerfull trading tools combo 💪🏆💰 (with a bit of Ichimoku)
Nice information for reference 🎉
How wave 5 is bigger than wave 3🤔؟I think its a rule that wave 3 shouldn't be the shortest wave?
The only way to make moeny with Elliott Wave is to teach Elliott Wave.
Why don't you mention the time frame ? H4 H1 or M30 ? where to use this ?
@farroking
They say you must not trade elliot wave with time frame less than one hour
The best time frame is 4h
In the Disney example the 3rd wave is not the largest though
You made a few mistakes, for example, that wave 4 can't retrace in wave 1 territory... In your example (Alibaba) wave 4 retraces too low (in wave 1 territory), therefore the EW isn't correct. Also, the Disney chart is not counted correctly regarding the EW theory.
third wave is never be a shortest and wave four cannot surpass the third wave but you confuse me
The third wave cannot be shorter than wave 1 going up ( it needs to be a longer wave than waves 1 and 2) and the fourth wave cannot go below the beginning of third wave when it is complete. Hope this helps.
Wave 4 of the Elliot should not retrace in the zone of wave 1
Have 4 is Not allowed to go in Wave 2
How is the soon death to USD gonna effect the forex market for American Traders
0:09 wave 4 cannot be lower than wave 1 top!!! first rule!!
Wave 5 not a corrective wave
I'm glad I got into crypto when I did because it’s been a turning point for me financially, been my best decision so far.
As an independent woman I started my first investment plan with just a $1000 and now earning weekly income of $4830 in cryptocurrency exchange with my personal broker.
Inspiring! Do you think you can give me some advice on how to invest in a healthy way as you are doing?
Bitcoin has been falling for a while now and could fall further or close to rise again. The truth is that no one knows, I believe it's the right time to buy and also get a pro's assistant
I will recommend my current trader Mrs Katherine Flores, she is from USA and her strategies are earning a lot profit for me..
Isn't that the same Mrs. Katherine Flores that my neighbours are talking about, she has to be a perfect expert for people to talk about her so well
Wave 4 shouldn't be lower then Highest point of wave 1
I'll forever be thankful to you, you've changed my whole life, I'll continue to preach about your name for the world to hear, you've saved me from a huge financial debt with just little investment, thanks so much Mrs Rosalia Marrone.....
Amazing that you know her too. It's only been a few months with her, my portfolio has grown tremendously and i've been making alot of profit..
I’m new at this, how can I get hold of your broker ?
This is her telegam username below....
InvestwithRosalia❤.
I got a chance to benefit from her services a few months ago and it has been a very smooth experience.....
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
What impresses me most about Michelle Stewart is how well she explains basic concept of winning before actually letting you use her trade signals. This goes a long way to ensure winning trades.
Isn't that the same Mrs Michelle Stewart that my neighbours are talking about, she has to be a perfect expert for people to talk about her so well
I'm new at this, please how can I reach her?
I would advice any viewers to ignore this video. There are several misleading aspects - the largest wave is typically the 3rd; 4th typical retrace is 38.2 and only in specific patterns overlaps with the 1st. The examples shown are likely 1-2-1-2 setups (a wave within a wave). Sorry man, you lost me with this video.
yes
I will ignore you
crazy how a channel run by AI voice has over 500 kSubs
you need to learn more
"The basic rules of Elliott Wave Theory" ....were just broken literally seconds ago in your own video. Wow, this is BAD. Folks, real human being here, not a bot who is interested in talking about some scammer who helped me get rich:
Be careful, this video is riddled with incorrect examples/info!!!
@Trader DNA, you should know better than to publish something this shoddy.
can i get download link through email, unbale to down load from the link, it is clumsy
you said ellit was american, but why you didnt say his nationality?
Thanks