Elliott Wave Tutorial Video #2: Zig Zag and Flat Corrections, How to Recognize and Label Corrective Waves

in #bitcoin3 years ago

This tutorial video reviews in detail the Zig Zag and Flat Elliott Wave corrections. It takes you through the basics of each corrective wave type's composition and application. Real charts are used for didactic purposes. I recommend viewing this with a paper and pencil for notes and repetitively. Enjoy!

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**


Any chance of a quick update on EOS if you have a minute haejin?

You nailed the yellow wave 3 in your last post and we are working on wave 4 now. The A wave is clearly 3 waves and I have identified a few possible paths for the B /C waves, I'd be very curious to see how you count it and compare.

If you don't believe fundamentals drive price, what do you think caused Bitconnect price to shoot to the ground?

You're a true professor Haejin, I just purchased EW principal book to become more detail oriented.

Your bcash posts were so on point too! I wonder if you've sold yet 😏.

I wish you MASSIVE profits!

How is this for a first attempt at EW, @haejin? https://www.coinigy.com/s/i/5a49b0b2e47d0/ thanks. I'm learning quickly with your updates.

Haejin you are great thank you for this beautiful tutorials

You are awesome Haejin! Thanks!

still processing, itll be up soon hopefully

Is your stop for Spread Coin still set for $0.274?

I have lowered it to 0.2341; Sorry for not updating. So much to do.

No problem. Thank you for the response.


I cant believe I just did that lol
Thanks again

where does wave 1 start from when it breaks out of the triangle??
i just noticed wave 3 is the smallest IF i put wave 1 inside the triangle... does the impulse start inside? or after it breaks out the trend?

I would extend those waves considerably. This is the end game of the NY Secret Agreement to replace Core with Bitcoin Cash. CME owns coinbase, coindesk, and the Digital Currency Group, which sponsored the NY Fake Agreement. Everything else is smoke and mirrors. CME always planned to launch Bitcoin Cash as BTC futures later this year. Segwit2x fork still planned as all out assault on Core. Look for spike in BTC hashrate right before the fork. This will be moved to Bitcoin Cash right after the fork, BTC will come to a grinding halt, and coinbase will have no choice but to adopt Bitcoin Cash as BTC, and coindesk will add a pretty bow.

Interesting. What does the CME have to gain in doing this?

They require a coin that can handle the amount of transactions that they plan to throw its way, and they own all the coinbase customers Bitcoin Cash, and if they pull this off, they will control everything. Not much for decentralization, but probably massive profits. I am also expecting China to relaunch exchanges with Bitcoin Cash as BTC pairs. Or maybe I am just not getting enough sleep. I feel like I'm the protaganist in Dan Brown's latest book, The Da Haejin Code.

lmao you conspiracy theorist... nice one!

When your in the money business, never mess with a man they call Jesus. Some fractals last thousands of years.

Like Buddha and Yeshua

I'll just say that I've read a lot of stuff about this supposed attack on BTC and replacing it with BCH, and it sounds super interesting and even a little possible. Hell, I sort of hope it happens just so I can appreciate the ruthless strategy of it all.

But we'll need to make sure we trade the charts first, and try to ignore the news to remain un-influenced in our TA.

But a futures contract is a derivative of Bitcoin and so won't require mining transaction. It's simply traded without actual exchange of bitcoins. This is how Seqwit2x futures traded before the forked coins even existed.

A call or put instrument thus has zero need for miner transaction. Unless one takes delivery but that'll be unusual.

If CME wants to outright own BTC, I'd be surprised.

They probably bought all the BCH at $300 along with everyone else involved in this conspiracy against BTC. ;)

thats extremely interesting!

what does that tell you exactly?? Im guessing if they line up well enough, its possible that would be the top? at the top of the fib?

I think this is the beginning BTC Blowoff Top. They will fix the typo top left soon enough.

If she moves decisively through top line, I think we're in business

Do you think BCH is going to correct download and at what level. It seems when BTC goes down BCH goes up. When BTC Goes up, BCH goes down.

can you explain your analysis a little more? if it breaks out of that channel what is your prediction?

what are your thoughts on this??

you said BTC? did you mean BCH?

BCH becomes BTC
Seg2x becomes BS2
BTC becomes BS1
And coindesk will applaud the users for their victory.

thanks for these tutorials- upvoted! please keep them up. i bought the book, but as you said equities have different personalities from cryptos

Seems complex. I just got into chart reading recently and id like to try all the tools used to maximize my growth and profits. This might be something i check out when im more experienced, good insights tho!

Please save yourself a lot a time and start with Haejin and the books he recommends on Elliott Waves and Pattern Recognition. Go back to earlier videos. They start off very simply, and progress in complexity. There is a wealth of information here, not to mention the massive profits.

God bless you my brother

This may be a silly question, but what software or webpage do you use to visualize the charts?, and btw thanks a lot for the tutorials.

whats up man @xibalbha, you can try to ask questions on haejins most recent posts so it has a higher possibility of getting a response... IDK if youll ever see this but Haejin uses Tradingview.com to do his analysis.

Was wondering the answer to this question! Thank you @cryptosuf for supplying the answer.

Overlap unless it morphs into a diagonal.

I THINK its morphing into a triangle... is that what you meant?
Something like this

Practice forward discerning probable patterns..

if an elliot wave pattern fails do you look for other patterns? like look to see if it is just forming a wedge, sym triangle etc and move on with the ta? What is your thought process when an elliot wave pattern fails for what ever reason (i.e. 3rd wave shortest, 4th wave crosses top of 1st)

Since EW is a probabilistic method, if you primary count is incorrect, then one of your alternates will be. That's why an Elliotician is rarely surprised

Wave 4 cannot overlap with wave 1.

just watched the entire thing and damn what was good! thank you very much for all of this Haejin. this is great! your videos explain this stuff very well. im getting the hang of it

Your charts with counts show it!

Just watched this tutorial for the second time, and now I see many of my counting mistakes! It is definitely worth re-watching to continue perfecting your skills!

thank you, good job.

Thank you for this valuable information!

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Your videos are amazing!
With your teachings, I was able to call this hours ago!

Now, you need to fail, and fail some more....as this will teach you best!
You'll see...the failures will better ingrane and teach than successes.

I put in some money in December and lost hard. I have never learned anything so quickly... Just begun my journey into this amazing subject. Thanks for all your guidance.

I wish you MASSIVE profits!

Mostly Cryptocurrencies are correctives wave now that make me understand what is kind of corrective wave. Thank you so much .

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