Hello

Everyone in the crypto academy.I hope that all my friends will be happy and healthy with the grace of God.I read the whole lecture and examine that it is very intersting for me.It is full with the information.I really gain knowledge from it.You describe the Elliott Wave theory in a very beautiful way.

Source

Introduction

If we talk about the Elliot Wave theory we have to knowledge about the trading platform and the graphs at the trading.This theory is created by the Ralph Nelson Elliot in 1930.He published his book in 1938.The ne of Book was The Wave Principle .He had a lot of experience for marketing.Because he had read the markitng for a long time.So he keep an eye on the every sight of trading and then he thought that if he present the trading in the form of the waves in which the price of an asset increase and decrease.So it prove to be very fruitful because it make easy to use trading because it show the bearish and bullish trend.So it is very helpful for new traders.

(Question 1)

In the first question we will talk about three things:

• Application of Elliott Wave Theory

Source

Application

Elliott Wave Theory is a tool that help the trader to know about the original trend in the market.It also tells about the Entery and the exit point to the trading.It can hepls us in the guidance that when we can enter in the market and when we can exits from the market.So it is very useful tool for every market for trading.Because it has a complete guidance for the trading.According to this theory we can make an idea of the where the market reaches (uptrend or downtrend).

(Question 2)

• Impulse and Corrective
• How to spot different waves?
  Now we talk about the Impulse.

Impulse

Impulse is consist of 5 sub-waves.
This theory shows the 5:3.Its mean that there are 5 waves are called Impulse.It is a increasing trend of the market.These waves show variation even 1st wave to 5th wave.
Now we just talk about the specifications of these waves and learn the market trend and phenomenon of these waves:
Lets Start

Wave 1

It is the first wave where the trading starts.It is a beginning of the cycle of EWT.It also show the uptrend of the market.This wave should be smaller then 3rd wave.So the uptrend starts here.

Wave 2

It should not be behind 100 persent to the1st wave.beecause the market has to simple shorter then the 1st wave.It is the short term part of this

Wave 3

The 3rd wave must be larger than the 1st and 5th wave.So it the largest wave in the theory of the Eelliott wave. It can not be shorter then wave 1 and wave 5.

Wave 4

The wave 4 should not be overlap to the wave 1.It is always above to the wave 1's high point.

Wave 5

This theory will end on the wave 5 in the form of Impulse wave then the new phase start that will based upon the corrective waves.
Now I describes it with a Photo:

Source

Corrective

After the uptrend in the market according to the Elliott Wave theory then the 3 waves make the dowmtrend.
Now we talk about the some specifications of the 3 waves:
These waves are named to be follow:

• Zigzag
• Flat
• Triangle
  Now we talk about these waves one by one.

Zigzag

Source
Here I show that the Zigzag wave it happens on the almost C wave.

Flat

You can see the picture of Flat corrective wave in following.

Source

Triangle

Here is the picture of the triangle in this theory.In which you can understand it very well.

Source

How we can spot different waves?

We can spot the waves by analysing it very closer.If we findout the Five waves in the impulse relation and three wave in the corrective manner so then we can said that this shows and follows the Elliott Wave Theory.It has a great use in the all the markets of the trading.In the crypto market many users use this tool and tool for their facilities.

Rule for Waves:

1- Wave 2 should not be 100% behind the 1st wave.
2- The wave 3 should not shor than the 1 and 5 waves.It should be always greater than these waves.
3- The wave 4 should not cover the wave 1.
The wave five should be supass from the wave 3.
By following these rules we can spot the Elliott Wave Theory easily

(Question 3)

What are your thought on this theory? Why?

My opinion

I really like this tool because it is very helpful in the trading.It makes the many facilities like the guidance to when the asset should buy and sell.
If we learn about the whole theory.It may very very helpful and informative.I decided to use this tool for trading whenever I do work on the such market as:

• Binance
• Huobi
• Bittrex

If we deeply talk about it the Elliott Wave theory do not work 100% and if we combined some other useful tools like indecators,techniques and the other trading skills and experiences so we can make possible to work in a best way in the trading.And earn a huge value.

Now I describes the B option.

B) Choose a coinchart in which you were able to spot all impulse and correct waves and explain in detail what you see. Screenshots are required and make sure you name which cryptocurrency you're analyzing.

I see many currencies in the Trading View.
As the question of the professor.I chose the Euro/U.S Dolar in the Tradingview website.So first of all I Find out the such a trending view:

In the next step I label the impulse waves and named them as Wave 1,2,3,4 and 5.

After that I find and label the corrective waves in such a way:

• The waves A and C is equal to the point of the wave 4.Because it is the rule of the Elliot Wave Theory.
  

Conclusion

In which era we live is a era of market of digital assets.We can only be Successful man after Understand the market of cryptocrunccey.And make the money.In this case If we use this theory as a tool in our trading then we can work on this platform in a very beautiful way and earn more.So my conclusion is about that we can use this tool combine with the other indecators and our trading skills and make the trading easy and make the many facilities.

This is in my mind and My knowledge that I get from you lecture @fendit.

Special Thanks

@fendit

Regards

@numanfarooq7677