5 MT4 and MTPredictor for Ninjatrader 6. Dr Zain Agha Systems Z-WINNER and Secret Bankers Manual comes with bonus! Correction in last 2 months and tested 9950 in March. Now the question here is whether it’s Just a Relief Rally or Start of Bull Market? Upper trend line shown in last post is now broken from top and closing also below that.
In technical term this can be said as falling from roof. This is at around 10500, 10150 and 9700. In Weekly also 9700-9800 coincides with trend-line support. I started the Portfolio Advisory from 25th Oct, 2017.
I created Model Portfolio of Stock Recommendations in Advisory. Below is snapshot of Returns in Advisory Portfolio as of Year End 2017. LEARN TECHNICAL ANALYSIS FOR FREE AND BECOME AN INDEPENDENT TRADER. What is the Elliott Wave Principle?
Elliott Wave Principle is based on the fact that prices usually move in fives waves in the direction of the larger trend and in three waves contrary to it. Elliot waves show up on all types of charts, ranging from the monthly to the one-minute charts. Any wave is formed by waves of lower degree and is also a part of a higher degree wave. Elliott wave principle works best on markets with the largest public following.
Impulse Waves Impulse waves are five wave patterns. Impulse waves always unfold in the same direction as the larger trend – the next higher degree impulse or corrective wave. Waves 1,3 and 5 within an impulse are themselves impulse waves of lower degree which should also subdivide into a five-wave pattern. If any of these rules is violated you should try a different wave count. Corrective Waves Corrective waves are three wave patterns.
Corrective waves always unfold in the opposite direction to the larger trend – the next higher degree impulse or corrective wave. Zigzags, Flats and Irregulars These corrective waves are broadly called ABC corrections. They differ by the distance their subwaves move in relation to each other and by the way they subdivide. A zigzag consists of a 5-3-5 sequence in which wave B doesn’t move past the start of wave A and wave C moves far beyond the end of wave A. A flat is formed by a 3-3-5 sequence in which all the three subwaves are of the same length. It is useful to know that in all the three ABC corrections wave C subdivides into a five wave pattern, or an impulse wave. This information can be very helpful when making timing decision for entering your trades at the start of the higher impulse waves.