evanpattern

Wave Function and Elliott Wave
gold signals
Every wave serves one of two functions: action or reaction. Specifically, a wave may either advance the cause of the wave of one larger degree or interrupt it. The function of a wave is determined by its relative direction. An actionary or trend wave is any wave that trends in the same direction as the…[Lees meer]

Elliott Wave and Essential Design
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Now observe that within the corrective pattern illustrated as wave ② in Figure 1-3, waves (A) and (C), which point downward, are each composed of five waves: 1, 2, 3, 4 and 5. Similarly, wave (B), which points upward, is composed of three waves: A, B and C. This construction discloses a cr…[Lees meer]

Truncation
Elliott used the word “failure” to describe a situation in which the fifth wave does not move beyond the end of the third. We prefer the less connotative term, “truncation,” or “truncated fifth.” A truncation can usually be verified by noting that the presumed fifth wave contains the necessary five subwaves, as illustrated in Figures…[Lees meer]

Planning your exit

Since no human can see into the future, unfortunately new and experienced traders alike will sometimes have to contend with losing trades.

Emotions can run high at these times. Watching your hard-earned money being depleted from your account is an uncomfortable experience – and it can compromise your decision-making…[Lees meer]