When i see a person starts labeling the Elliott wave theory without understanding it , how exactly it works i know he or she dont have proper knowledge and some try to make it look like they know everything , in reality market works completely different form their views
So what has changed and what is causing the retail traders ?
The answer is understanding the correction in the middle of the trend , any one can throw a dart in the Middle of impulse leg and can become successful trader but when market enters in correction every starts loosing because they do not have an proper understanding , How the corrections can unfold and how the corrections can lead us what will happen next
Here i have made an visually represented an series of pattern which are inter-connected with each other
Whenever you see the impulse is being challenged with sharp correction or sharp drop in price action consider the time for pause in the impulse move , and this correction when it unfolds it gives an idea what kind of pattern it will lead during its formation ,
R N Elliott did a Very Grate job by simplifying it and giving them a name and labeling them to understand what exactly they are ( You can label them with your name or any alphabet you like ) he also gave an guidelines how to identify these and trade in the direction of larger trend for becoming successful trader
Now i am not going to talk about all the wave theory here , but i have given an visually represented hint , Now Google Elliott wave principal and read it , understand it then start practicing it
Good luck
So what has changed and what is causing the retail traders ?
The answer is understanding the correction in the middle of the trend , any one can throw a dart in the Middle of impulse leg and can become successful trader but when market enters in correction every starts loosing because they do not have an proper understanding , How the corrections can unfold and how the corrections can lead us what will happen next
Here i have made an visually represented an series of pattern which are inter-connected with each other
Whenever you see the impulse is being challenged with sharp correction or sharp drop in price action consider the time for pause in the impulse move , and this correction when it unfolds it gives an idea what kind of pattern it will lead during its formation ,
R N Elliott did a Very Grate job by simplifying it and giving them a name and labeling them to understand what exactly they are ( You can label them with your name or any alphabet you like ) he also gave an guidelines how to identify these and trade in the direction of larger trend for becoming successful trader
Now i am not going to talk about all the wave theory here , but i have given an visually represented hint , Now Google Elliott wave principal and read it , understand it then start practicing it
Good luck