Elliot wave large flat correction appears complete

A large flat correction wave appears to be complete and the beginnings of the next bullish impulse wave is underway. The correction wave in this Elliot wave set up would be the 2 wave. The strategy is to wait for the correction to retrace at least 38% but preferably 61.8% of the previous impulsive wave. Buying by laddering into the position is the most aggressive strategy. Buying partial orders at 50% retracement 61.8% and then again at 78% provides is a good way to get into the trade before it breaks out. The more conservative entry is to wait for confirmation.

To confirm entry, I try to stack as many confirmations as possible.
1 Look for a break of Head and shoulders trendlines (as noted in the chart)
2 Look for RSI to have higher highs and higher lows
3 look for volume increasing in not just one bar but ideally three bars(no volume probably indicates false breakout)
4 look for long green bar to break and close above the 55 EMA
5 place stop at the apparent bottom to allow for bull bear struggles.

These strategies are not perfect, but will keep you out of many false starts and provide very good risk to reward ratios.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出