Blog Profitunity: A holistic approach to trading

The social mood correction will be synergistic in the fact that we will eventually achieve alignment in negative mood at very high wave degrees in multiple fashion. Be a Christian, preach the gospel to others, live your life, and be right with God. The Antichrist comes before Jesus, so we need to keep an eye on who that could be.

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According to Ralph Elliot, the price of an asset should not retrace completely the first wave. The first one is about where the first wave starts, as shown above. Ideally, when drawing the initial wave, it should start at a significant lower level. Typically, it starts after the financial asset reaches a key lower point.

As mentioned above, there are rules that govern these cycles. In the second wave , emotion sets in and traders dump some assets which reduces the price of the pair. This is a phase where correction happens which results from human emotion. After some time, the buyer’s remorse sets in and the traders dump some of their holdings.

Profitunity Analysis of Bitcoin Futures and The Elliott Wave Count

In the 3rd phase, the traders decide to continue the Bull Run which sends the prices higher. In his analysis, Elliott analysed stock prices of more than 70 years and discovered that the market moved as a result of psychology. The Elliott’s trading system was accidentally established by Ralph Elliott who decided to study market behaviour in his later stages in life. After spending time learning and analysing the markets, Elliott came up with the book, ‘The Wave Principle’ where he published his opinions. To do all this, the traders use a number of strategies. One of the most famous is to analyze a chart using Elliott Waves.

Trade talks, UK elections and impeachment proceedings generated volatile action that carried the market to a new all-time high at 3182 on the Friday open before finishing the week at 3169. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Of retail investor accounts lose money when trading CFDs with this provider. Some traders have a much higher success rate than others.

The late majority are a skeptical group, adopting new ideas just after the average member of a social system. Their adoption may be borne out of economic necessity and in response to increasing social pressure. They are cautious about innovations, and are reluctant to adopt until most others in their social system do so first.

It then ends with a three-wave pattern known as a corrective wave. The chart below shows where you can find the Elliot wave drawing tools in TradingView. A zig-zag is a 3-wave structure labeled A-B-C, generally moving counter to the larger trend.

Hedge Funds and Elliott Waves – Netflix $NFLX

This has been a week that has given us some answers due to the questions regarding the structure of the last rally. So, this means that we have no initial potential for the next rally having begun yet in either of those charts. If the wave we are in now is a Minor Bwave, then it might be time to start looking for signs of at least a corrective wave that alternates with wave Intermediate . The reason the chart is counted this way is that every internal correction can be counted shorter in price and time than Intermediate . The Elliott Wave Theory proposed the idea that market cycles actually resulted from the reactions of investors to outside influences or the psychology of the masses at that time.


They never try to anticipate a reversal but rather look for an established strong trend to join. They have an active social status but they are not thought leaders. They not only follow the “experts” but early adopters quite often closely communicate with them. When they make decision about roboforex app joining the very well established trend they take into account opinions of those thought leaders. I think I am going to coin this new term, as it represents a region where there is no clearly distinguishable wave structure. And, this is what we have been dealing with over the last few days.

Practical Application of Elliott Wave Theory in Trading

On the first divergence per The Eight-Fold-Path Method. This count allows the EWO to come back near or below the zero line for a fourth wave before making a higher high in bluev. It is ‘plausible’ but has disagreements your trading coach review with the futures which is a second reason why it is the alternate and not the preferred count at this time. The “running flat”, if a second wave, is what allowed us to suggest that today might be a large up day.

Bitcoin is quite a hot topic, even if you are not a trader! The purpose of this video blog is to show how PROFITUNITY Trading Group’s indicators work and world map currencies how we count the Elliott Wave on this Bitcoin Daily Chart. We start looking back at Bitcoin chart at the Wiseman Bullish divergent buy signal in […]…

And, today, the market walked up to the resistance and then turned down. And, as I write this, we have another potential structure in place to the downside. The market has gotten itself into a bit of a hole of late. But, today, it is trying to scratch its way back out of the hole. As I write this update, we are now hitting our head on the first resistance region in the 3960SPX region. Assuming that the bottom has finally been struck for this recent decline from 4325, then it is likely this is the a-wave of the wave I am tracking.

Social mood theory has been warning for some 22 years that mood is rolling over at very high-level wave degrees of which Grand Supercycle sized of over 240 years. The primary count is that Minute of Minor wave 3 of Intermediate wave down has reached its price low in today’s SPX low of about 3903. The decline so far since has been sharper than the rise to . Remember, the objective of Minor 1 of is to advance prices lower than . And since this is projected to be a very harsh bear market, prices could be significantly lower.

It takes different time for different people to begin using the new idea. He proposed a classification of all the members of a society into five groups based on criteria of how long it takes for them to begin using the new idea. But even more important breakthrough he made was the discovery of fractal nature of price structures. That means that the same price patterns combined together formed identical pattern on a larger scale. The wave count on the 3 month note suggests the rise in yields will lose momentum in a first wave peak. Then a pullback which may result in the Fed reducing rates for a little bit and then acceleration to higher rates than what was experienced in the early 1980’s.

On the other hand, when the market is in a strong downward trend, a time reaches when the traders moods changes and exits the trade. Elliott called sideways combinations of corrective patterns double threes and triple threes. While a single three is any zig-zag or flat, a triangle is an allowable final component of such combinations and in this context is called a three. A double or triple three, then, is a combination of simpler types of corrections, including the various types of zig-zags, flats and triangles. Their occurrence appears to be the flat correction’s way of extending sideways action. As with double and triple zig-zags, each simple corrective pattern is labeled W, Y and Z.

The current count on Bitcoin is showing that we have finished the corrective wave marked as 5/C on the chart. Looking at the behavior since the low on June 22nd we can see a small sub wave 1 up and then the sub wave 2 down ended on July 20th, 2021. These waves are usually divided into a grand supercycle, supercycle, cycle, primary, intermediate, minor, minute, minuette, and subminuette as shown below. The two most important parts of the Elliot wave are impulse and corrective waves. In the Elliott’s Wave Strategy , the key idea is to understand the market psychology which indicates the swing between optimistic and pessimistic modes.

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