How to publish an idea on TradingView? Hey everyone!👋
We have prepared this visual guide to help out the awesome new users of TradingView. A lot of you are not aware but TradingView provides you a facility to share your charts with a wholesome community. All you have to do is just mark your chart, give it an awesome heading, write a good description and just publish. Easy, right? Let’s delve deeper into this process!
A step-by-step guide on how to publish an idea on TradingView.
1. When you open TradingView, you will find an option called "Chart". As soon as you click it, it will redirect you to a blank chart template.
2. The blank chart will look something similar to the chart below. On the top-left-hand corner, you will see the "Scrip name" of the current scrip that you are checking.
3. Click on the "scrip name" and find the symbol that you like to see the chart of. Easy right?
4. You can now mark whatever you feel like as per your trading system. In general, you can mark different levels/zones of support, resistance, demand, supply, patterns, etc.
5. After marking all the levels, click on the "Publish" button shown at the top-right corner of the screen. It will redirect you to a blank form that you need to fill out.
6. In this form, you need to provide the following things.
a) Title - A title for your idea
b) Description - A meaningful description explaining your idea so that others can understand from your perspective.
c) Choose the type of idea - Analysis or Tutorial. An analysis is an idea about a specific stock at a given point in time whereas a tutorial can be a generic idea regarding educational things related to trading or TraingView.
d) Privacy settings - If you want to share your ideas with the community, you need to select the "Public" option. Else if you just want to keep the idea to yourself as a reference or a journal, you can select the "Private" option.
e) Category - Select the basis for your analysis using the options given in the category slab.
f) Investment strategy - Whether you are bullish, bearish, or neutral on the stock.
g) Share - You can check the share box if you want to share your post on Twitter as well.
h) Tags - Provide a few relevant tags for your idea.
i) Rules - Check the box which affirms that you abide by the house rules of TradingView.
7. After doing all of the above, you just need to click "Publish Idea".
Voila! You just published your first idea on TradingView.
Note : Ideas once published, cannot be edited/deleted after 15 minutes of publishing. Hence, if you make some mistakes, be sure to rectify them within 15 minutes.
A few important rules that you should keep in mind before posting an idea:
1. Make ideas understandable.
When publishing content, make sure to write an easy-to-read title and a thoughtful description so that everyone can get the gist of your published work and the reasoning behind it.
2. All content should be ad-free.
Any advertisement such as logos, links or references to any website, social media, messaging or email contacts, company names, wallet addresses, will invite action from the moderators. All content has to be free from promotion.
3. Publish in the same language as the site you're on.
Writing in one language when the audience reads in another is just a waste of time and energy, so please make sure to stick to the language of the TradingView subdomain you're on. If you'd like to publish or chat in another tongue, please click on the language selector in the top bar menu and select the desired dialect.
Check out the house rules of TradingView here: in.tradingview.com
Feel free to go ahead and post an idea today! And if you ever need any help, we are always here to help you.
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Community ideas
Simple candle stick patternInverted hammer candle is candle stick pattern which shows a price rejection area on upper side. We can go for sell a stock with the help of inv. Hammer candle by confirmation of next bearish candle move.
Today in the morning we got the inverted hammer candle (with the last two day's double top pattern)on the steps of previous day which was telling us sharp price rejection. Next candle break the low of first candle and price moving down.
You can see how beautifully, a single candle stick pattern work today.
Accumulation and DistributionThis is how a typical accumulation and distribution phase works in stocks
Usually, we are thought about how to trade moving average cross overs, but actual cinema runs behind the picture is that there is a whole lot of accumulation that goes on by big boys, and a typical breakout scenario is created by distributing which is reflected in chart patterns please go through public and others holdings to understand more,
Retailers lack patience and capital and this is the only key for big players to accumulate for long periods
Descending Triangle - Full ExpanationWhat is descending triangle ??
The descending triangle is one of the top continuation patterns that appears mid-trend. Traders anticipate the market to continue in the direction of the larger trend and develop trading setups accordingly.
The descending triangle is a bearish pattern that is characterized by a descending upper trendline and a flat lower trendline that acts as support. This pattern indicates that sellers are more aggressive than buyers as price continues to make lower highs. The pattern completes itself when price breaks out of the triangle in the direction of the overall trend.
Element Of Descending Triangle
The descending triangle is fairly easy to spot once traders know what to look for. The below method can be applied to all financial markets.
1.)Downtrend: The market must be in a downtrend before the descending triangle pattern appears. This is important and emphasises that traders should not simply trade the pattern whenever the descending triangle appears.
2.)Consolidation: The descending triangle then appears while the market enters the consolidation phase.
3.Flat Lows Or Flat Line Lower trendline: The lower trendline acts as support. Price often approaches this level and bounces off until the breakout eventually occurs.
4.)Decsending or Lower Highs: While the market is consolidating, a downward sloping trendline can be drawn by connecting the highs. This downward sloping trendline shows that sellers are slowly pulling the price down – which provides further support for a bearish trading bias.
5.)Breakdown & Trend Continuation: After price posts a strong break below the lower trendline, traders will look for confirmation of the pattern via continued downward momentum.
Calculating Target
The descending triangle, often referred to as the ‘falling triangle’, has an inherent measuring technique that can be applied to the pattern to gauge likely take profit targets.
For the descending triangle, traders can measure the distance from the start of the pattern, at the highest point of the descending triangle to the flat support line. That same distance can be transposed later on, starting from the breakout point and ending at the potential take profit level.
The illustration below shows the distance from A to B can be transferred lower down, from C to D, in order to project a possible take profit level.
How to trade Descending triangle
When trading the descending triangle, traders need to identify the downtrend and this can be seen in the BANKNIFTY 15 Min chart below. Thereafter, the descending triangle appears as the candlesticks start to consolidate. The measuring technique can be applied once the triangle forms, as traders anticipate the breakout.
After viewing a strong break below support, traders can enter a short position, setting a stop at the recent swing high and take profit target in line with the measuring technique.
Role of Support Resistance in Breakout tradingWhat is Breakout Trading ?
A breakout is a potential trading opportunity that occurs when a share price moves above a resistance zone or moves below a support zone on increasing volume .
For trading breakouts one should be aware of support and resistance . It acts as the backbone of Price Action trading.
What is Support & Resistance ?
Support is a place where a stock price stop moving downwards. It is a horizontal area on a chart, where price experience buying pressure and tends to move up.
Resistance is a place where a stock price stop moving upwards. It is a horizontal area on a chart, where price experience selling pressure and tends to move down
Why are these support and resistance formed?
Support and resistance are formed only due to our own emotions at points around high supply or demand zone . For instance, if a price falls from high 100 to 50 then in and around that price (50) there will be lots of buyers ready to buy assuming it to be very cheap price and same goes for resistance where lot of traders would like to offload their positions considering that price to be too high for the stock and good time to book profit.
Why do we need Support and Resistance?
Support and Resistance often helps to set
1)Target,
2)Entry and
3)Stop loss.
Guidelines for Drawing Support and Resistance:
For the same chart if we ask 10 traders to draw support and resistance area, we will get 10 different result. So, what are the important things to consider ?
I always prefer drawing rectangular zone instead of drawing single line to make chart look clean and easy to understand the area of supply and demand .
*Always Use Higher Time frame to draw Support and resistance area.
* Draw a zone using rectangle which shows multiple touches. While, this zone act as great support and resistance area compare to few touches which was due to volatility .
* While drawing zone make sure to cover shadows in all previous touches
Things to know:
* The more times the S&R zones are tested in a short period of time, the weaker they become &
the greater the likelihood it will break.
Rules for Positional breakout :
1)Candle closing is mandatory to trade breakouts.
2)Wait for the retest, if the price closes too far from the breakout level.
3)There should not be HTF support/resistance near the breakout level.
Types of breakout Patterns :
1)Rising & Falling Trendline
2)Rising & Falling Channel
3)Rectangular Channel
4)Ascending , Descending & Symmetrical Triangle
5)Head & Shoulder
6)Support & Resistance Breakout
Hope it was helpful to you,
Happy Learning & Profit making :)
Thanks & Regards
Divyaapugal
More you stay on screen more you loseBy set and forgot method you defeat the opponent called trading psychology
By this method you can spend time with ur loved once rather than being frustrated without no reason
Remember price move in way he wants so by staying on screen can't change anything
How I select stocks and make my final listHow I select stocks and make my final list. There is a myth that bigger the list bigger chance of winner.
How to use Chart Patterns indicators Tradingview has recently introduced new Technical Indicators that can be used to identify chart patterns that can be used to predict future price movements and determine the entry point to a position.
These indicators can be used to find the following chart patterns: Bullish Flag, Pennant, Double Top, Triple Top, Head and Shoulders, Triangle, Rectangle, and Wedge
Wedge is one such pattern that I discussed in this video. After watching this video, you will be able to apply and use this indicator on your charts. A wedge is a price pattern on a price chart that is defined by converging trend lines. Technical analysts regard wedge-shaped trend lines as useful indicators of a potential price reversal.
The best part about these indicators is that you do not have to manually look for these patterns, the alagorithm will do that job for you. I believe this will greatly help beginners in anaysing charts as a lot of manual work is now off your shoulders. Try experimenting with these indicators and I'm very sure it will make a positive impact on the trades you take.
Do let me know of any other stocks where you've discovered similar patterns using these technical indicators.
Learn about an Indicator today - AVWAPThere are plenty of indicators traders use to help them to make trading decisions. Every trader have their favourite indicator/indicators. What is your favourite indicator? Write it in the comment.
We are going to know about the indicator AVWAP(Anchored Volume Weighted Average Price) in this post.
What is the speciality of AVWAP?
We can place it anywhere in the chart. From that place VWAP will begin.
I have taken bank nifty chart here as an example. In daily time frame I have seen a pin bar which is taking support from the trend line.
Now I have selected AVWAP from the trend line tools. I am placing it on the pin bar. We got the pin bar on feb 8.
How to use it in trading?
Reduce the time frame to 30 mins. From 9th the price is trading above the AVWAP bands. If price is trending above the middle band it is mildly bullish. Above all the band means bullish. Below the middle band means mildly bearish. Below all the band means bearish.
Now take 15 mins time frame. See how the price is bouncing up, taking the support of the upper band. Feb 10th price took good support from the upper band. Traders use different observation on the indicators they use, what I have written is just one observation about how to use AVWAP indicator in trading.
Let me give you another example.
This is the daily chart of tatasteel. I have placed AVWAP on Jan 27. Now reduce the time frame to 30 or 15 mins to get the trading opportunities.
Always use all the knowledge in making any trading decision. Indicators wont be right 100 % as market is dynamic.
In BN chart price is taking trend line support and in tatasteel price is taking support in daily time frame. In addition to that I have used AVWAP to get more edge in trading.
How to use macd indicator in daily tradePreface
Macd indicator use to help them to make trading decisions postional trade. Every trader most of the use macd indicator .Because trader favourite indicator and what is your favourite indicator ? Write it in the comment.
Speciality of Macd indicator?
Macd Negative area(zone,cross)
see nifty 50 chart this date 21 jan 2022 macd move down side negative(zone,area)
Macd Postive area(zone,cross)
see nifty 50 chart this date 27 dec 2021 macd move up side postive(zone,area)
Alright, the operation start after creating an high 18604.45 date 19 oct 2021. Macd indicator indicate negative cross 22 oct 2021 and price consolidation three four candle and next candle breakdown. Most of the case macd indicator indicate price direction .This reason most of the people use this indicator .
Case Price move up direction 29 oct 2021 to 15 Nov 2021 this case Macd indicator negative zone move up side and again reverse down side 16 nov 2021 and price go down 18150 to 16855
How to trade Head & Shoulder Pattern The head and shoulders chart pattern is a popular and easy-to-spot pattern in technical analysis that shows a baseline with three peaks, the middle peak being the highest. The head and shoulders chart depicts a bullish-to-bearish trend reversal and signals that an upward trend is nearing its end.
Formation of the pattern (seen at market tops):
Left shoulder: Price rise followed by a price peak, followed by a decline.
Head: Price rise again forming a higher peak.
Right shoulder: A decline occurs once again, followed by a rise to form the right peak, which is lower than the head.
Formations are rarely perfect, which means there may be some noise between the respective shoulders and head.
Inverse Head and Shoulders
Formation of the pattern (seen at market bottoms):
Left shoulder: Price declines followed by a price bottom, followed by an increase.
Head: Price declines again forming a lower bottom.
Right shoulder: Price increases once again, then declines to form the right bottom.
Placing the Neckline
The neckline is the level of support or resistance that traders use to determine strategic areas to place orders. To place the neckline, the first step is to locate the left shoulder, head, and right shoulder on the chart. In the standard head and shoulders pattern (market top), we connect the low after the left shoulder with the low created after the head. This creates our "neckline"—the white line on this chart.
How to Trade the Pattern
It's important that traders wait for the pattern to complete. This is so because a pattern may not develop at all or a partially developed pattern may not complete in the future. Partial or nearly completed patterns should be watched, but no trades should be made until the pattern breaks the neckline.
In the head and shoulders pattern, we are waiting for price action to move lower than the neckline after the peak of the right shoulder. For the inverse head and shoulders, we wait for price movement above the neckline after the right shoulder is formed.
A trade can be initiated when the pattern completes. Plan the trade beforehand, writing down the entry, stops, and profit targets as well as noting any variables that will change your stop or profit target.
The most common entry point is when a breakout occurs—the neckline is broken and a trade is taken. Another entry point requires more patience and comes with the possibility that the move may be missed altogether. This method involves waiting for a pullback to the neckline after a breakout has already occurred. This is more conservative in that we can see if the pullback stops and the original breakout direction resumes, the trade may be missed if the price keeps moving in the breakout direction.
Why the Head and Shoulders Pattern Works
No pattern is perfect, nor does it work every time. Yet there are several reasons why the chart pattern theoretically works (the market top will be used for this reasoning, but it applies to both)
As price falls from the market high (head), sellers have begun to enter the market and there is less aggressive buying.
As the neckline is approached, many people who bought in the final wave higher or bought on the rally in the right shoulder are now proven wrong and facing large losses—it is this large group that will now exit positions, driving the price toward the profit target.
The stop above the right shoulder is logical because the trend has shifted downwards—the right shoulder is a lower high than the head—and therefore the right shoulder is unlikely to be broken until an uptrend resumes.
The profit target assumes that those who are wrong or purchased the security at a poor time will be forced to exit their positions, thus creating a reversal of similar magnitude to the topping pattern that just occurred.
The neckline is the point at which many traders are experiencing pain and will be forced to exit positions, thus pushing the price toward the price target.
Volume can be watched as well. During inverse head and shoulders patterns (market bottoms), we would ideally like the volume to expand as a breakout occurs. This shows increased buying interest that will move the price towards the target. Decreasing volume shows a lack of interest in the upside move and warrants some skepticism.
Head and shoulders patterns occur on all time frames and can be seen visually. While subjective at times, the complete pattern provides entries, stops, and profit targets, making it easy to implement a trading strategy. The pattern is composed of a left shoulder, a head, then a right shoulder. The most common entry point is a breakout of the neckline, with a stop above (market top) or below (market bottom) the right shoulder. The profit target is the difference of the high and low with the pattern added (market bottom) or subtracted (market top) from the breakout price. The system is not perfect, but it does provide a method of trading the markets based on logical price movements.
Quasimodothis is a quasimodo in buyning side when price is correct.
In Latin : Quasimodo means a new born baby.
Hence in price action Quasimodo means a new born trend.
For us the Quasimodo is a Price action Pattern which Suggest a long term reversal in trend of a particular Script.
key Level:
Found at all time high area
After a substantial rally at the top near to a Supply or MPL.
After a substantial Fall at the bottom near to a Demand or MPL.
There will be two Subsequent Engulf, Exactly opposite to each other or an engulf and a fake-out exactly opposite to each other.
The second engulf or False-Out will decide the direction of the Move.
Structure of an Quasimodo is H, L, HH, LL for Supply and L, H, LL, HH for Demand.
The second engulf should not be a reaction of the same demand or supply of the previous High or Low, as the case may be.
A Quasimodo level can be a FL or SR Break moment.
Quasimodo always contain a MPL inside it.
Where to look quasimodo:
Entry = Quasimodo level
Stoploss = Below the Quasimodo level
Target = opposite level
Elliot wave Truncated ZigZag Real chartIt look like reliance chart daily time frame complete zig zag correction
Wave formation
Wave (A,B,C) Zig Zag patterns
Wave A internal wave count (1,2,3,4,5)
Wave B internal wave count (a,b,c)
Wave C internal wave count (1,2,3,4,5)
Rules and objectives:
The C-Wave is Smaller than 61.8% of the A-Wave
This represents the least frequent situation, when the c-wave exceeds the end of the previous a-wave, but is less than 61.8% of it. Once again, the golden ratio proves to be essential in deciding what kind of a pattern the market will form. Having said that, the logical thing to do is to measure the length of the a-wave, take 61.8% out of it, and project it from the end of the b-wave. Keep in mind that it is mandatory for the c-wave to end beyond the end of the previous a-wave. If the resulting 61.8% measured move is not enough for that, it means that the whole pattern is actually not a zigzag. This type of zigzag is really important, as it calls for a sharp retracement in the opposite direction, so by the time the price moves beyond the end of the a-wave, a powerful countertrend move should be expected. The distance to be covered is a minimum of 80% of the whole zigzag, and more often it goes beyond full retracement. As a result, we can safely say that this type of zigzag is one that should be rather faded by the time the price goes beyond the end of the a-wave.
Asian paints case study: using Elliott wave & price action.
Asian paints had corrected more than 16% in just a month .
After 101 days, the price is back to the strong support zone.
Price has made a kangaroo tail/hammer candlestick pattern on the support zone. 200EMA is also near to price.
Wave principle is also giving a similar explanation.
There are three confirmations to find the ending point of wave four.
1. Price can take 61.8% retracement of the 3rd wave at 2782 , which is also a monthly support level.
2. Wave 4 can end nearby to support area.
3. sub-wave C of wave four is 161.8% of wave A at 2845 .
If the price enters the parallel channel, we will get a candlestick pattern and support zone's demand pressure.
200 EMA is also supporting this statement, which is close to the price. Or we have to wait for the monthly support level where the price is getting support, but entry is not possible without any reversal signal.
If the price isn't giving any reversal signal, the price will fall continuously.
Violation: Wave 4 can never touch wave 1. (at 2692)
I will upload an intraday chart with entry and targets the Asian paints soon.
Part 1: How to Count Waves Using Chart Patterns?We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom,
Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns.
I have covered Three chart patterns in this article,
1) Triangles
2) Head and shoulders
3) Double Top and Bottom
1) Head and shoulders :
In addition, the two lows formed when the price failed to rise and fell back down were basically at the same level. The horizontal line is often referred to as the "neckline" When the price fails to fall back for the third time neckline will break. So "head and shoulders" was officially established.
Changes in volume with head and shoulders:
During the formation of "head and shoulders", the left shoulder has the largest volume, the Head has a slightly smaller volume, and the right shoulder has the smallest volume. The phenomenon of diminishing trading volume shows that when the stock price rises, the chasing force is getting weaker and weaker, and the price has the meaning of rising to the end.
Operation plan after the Head and shoulders appear:
When the head and shoulders formed, you can decisively follow up the short order. The formation of the head and shoulders indicates the beginning of a new round of decline in the market, and the minimum drop is the distance from the head to the neckline. The profit is very substantial. Therefore, studying the formation of the Head and Shoulders is also a necessary analysis process for band enthusiasts.
Wave Count :
The left shoulder: wave 3/A.
The first touch on the neckline: wave 4/B
Head: wave 5/C
The second touch on the neckline: wave A/1
The right shoulder: wave B/2
The ending point of the right shoulder: wave C/3
2) Triangles :
These are the most commonly used triangle patterns. In this motion, we are going to understand the triangle in terms of the Elliot wave. We'll be talking about the classical triangle pattern in an upcoming educational series.
Wave Count :
A triangle forms in corrective waves. There are Four corrective waves in Elliott wave theory. The corrective waves are 2,4, B, and X.
There are four waves in a triangle which are A, B, C, D, E.
The starting point of wave A of the triangle is the ending point of impulsive wave 1/3/A/W. After the completion of wave E of wave 1/3/A/W, the Impulsive wave will initiate.
3) Double Tops and Bottom:
In the chart, you can sometimes see the stock price fluctuations. The stock price fell back after reaching the highest price. After some sorting, it rose again to near the previous stock price level and then fell back. Two "normally highs" The high point is formed on the circuit diagram and will not be seen again in the short term.
Wave Count :
In a Bull market, The first Top of the pattern represents the completion of the impulsive wave. The ending point of the Impulsive wave is the starting point of the corrective wave.
I started the wave count from the first Top and labeled it as A, B, and C waves.
In a Bear Market, The first Bottom of the pattern represents the completion of the impulsive wave. The ending point of the Impulsive wave is the starting point of the corrective wave.
I started the wave count from the first Bottom and labeled it as A, B, and C waves.
After wave C is complete, we can ride the impulsive waves.
Part 3: Elliott Wave Principle - Double three correction guideIt looks like mother Sumi has completed the 4th wave correction, and the ending point of the corrective wave (4) is the starting point of wave (5).
Wave (4) is occurring in double three corrections.
A "double three" consists of two corrective patterns, the first labeled W, and the second label Y, separated by a corrective pattern
on the opposite side, which is labeled X.
Wave formations:
Waves W is a zigzag correction pattern.
Wave Y triangle.
Wave X could form any correction pattern.
Wave X is smaller than wave W & Y.
Rules and objectives:
1. Double three is a corrective structure that includes more than one type of corrective pattern.
2. It consists of three waves, which are marked W-X-Y.
3. A triangle may occur only as wave Y in a double three.
4. In most cases, double threes are not deep corrections.
5. wave Y usually ends at 100% – 161.8% Fibonacci extension relative to wave W.
6. Wave Y should not go below the 161.8% Extension of Wave W. It shows that the corrective trend is strong.
7. There never appears to be more than one triangle.
What are the double threes?
Price picks up momentum when it starts an impulsive wave.
After accomplishing the impulsive wave, it corrects the previous move by a three-wave pattern.
These three waves were not enough to complete correction because of the high momentum & directional power of an impulsive wave.
Price creates another three-wave move to complete the correction by merging through intermediate wave X.
Let me make it easy by explaining and structuring examples.
Double three Structure:
Real Example:
Part [A] Basic of Wave Principle
Elliott Wave background
In the 1930s, R.N Elliott identified the price of the stock trends and reversed a specific pattern. This pattern is repetitive in form and, the patterns have predictive value. He decided to use this pattern (Elliott wave theory) to predict the market. The Elliott wave is not primarily a trading system. It is a detailed description of how the market acts. The Elliott wave is part of technical analysis. Also, the Wave principle is the reassembled form of dow theory.
-Elliott Wave Principle The key To Market Behavior]
Waves in the market?
We all know that price never moves in a straight line. It will neither fall in a straight line nor rise in a straight line.
Price will create highs and lows. And this high and low creates waves. Elliott wave theory is all about counting waves and, we are going to use the Elliott wave to trade the market.
Now, the concept of waves is acceptable for you.
Elliott wave theory is made of 5+3= 8 waves.
Let me show you that structure in both trends.
In bull market ( UP Trend ) :
Figure 1.1 This is the Elliott wave structure in an uptrend. As we discussed, Elliott's wave theory is made up of 5+3=8 waves. Where five waves move with the trend and three waves move against the trend.
In Bear market (downTrend) :
Figure 1.2 This is an example of Elliott wave theory in the Bear market. We can see that five waves move with the trend and, three waves move against the trend.
Take a deep breath, I know you have lots of doubts in your mind. Let me solve some.
1. Elliott wave theory works in any time frame.
2. These 5+3=8 waves will give us a market edge. It will provide strong trends & trend reversals.
3. The accuracy of Elliott wave theory is 84% of you are using the wave principle correctly.
Practical Example of Elliott wave theory :
In the Bull market :
Figure 1.3 This is the TATA MOTORS 4 hour timeframe chart. I used bar charts because It is easy to recognize Elliott's waves in bar Patterns. Well, it works for me to recognize if you feel that you can recognize patterns in another chart, go ahead with bar charts!
In Bear Market:
Figure 1.4 : This is the ITC daily time frame chart. It shows the beautiful Elliott wave structure in the Bear market.
Elliott wave structure :
Now, we all know that Elliott is made of a 5+3= 8 wave structure. So, Let's start getting into it!
To understand the wave principle, we have divided the wave structure (5+3=8) into two Phases which are an Impulse phase/structure & a corrective phase/structure.
Figure 1.5 This picture illustrates Two phases of the Elliott wave principle.
The impulse phase is made up of 5 waves and, the corrective phase is made up of 3 waves.
Figure 1.6: This picture divides the wave principle into two phases.
1. Impulse phase/structure ( which includes five waves and, which moves with the trend you can see in bull market impulse phase is going upward and in a bear market, impulse phase is going down which is directional move.)
&
2. Corrective Phase/structure ( which includes three waves and which moves against the trend, you can see that in bull market corrective phase is going downward and
In bear markets, the corrective phase is going upward, which is a counter-trend move.
Figure 1.7 , Elliott wave has 2 phases. motive/Impulse phase ( directional move ) and corrective phase(counter trend move). We can divide these 2 phases into two types of waves. Impulsive waves and corrective waves.
Let’s zoom in on the impulse phase to understand the underlying structure and wave behavior.
Motive/Impulse Phase :
Important things about the impulse phase
1). Motive/Impulse phase is a Five wave structure that includes wave1,2,3,4 & 5.
2). motive/Impulse phase is a directional move ( moves with the trend.)
3). The Ending point of the impulse phase is the starting point of the corrective phase.
4). motive/Impulse structure is powerful than corrective structure.
5) Impulse phase can divide into two types of waves
i) Impulse waves: 1, 3,5 ( move with Trend of impulse Phase )
ii) Corrective waves: 2,4 ( Moves against the trend of Impulsive Phase)
Let me give you a quick understanding because we are going to cover these waves in-depth,
Impulsive waves are trend-following moves. We can find this type of wave structure in both phases. Impulsive waves create trends.Impulsive waves are (1,3,5,A,C)
Corrective waves are counter-Trend moves. We can find this type of wave structure in both phases. Corrective waves provide pause to continue the trend,
Corrective waves : (2,4,B)
Motive/Impulse Phase in Bull market
Figure 1.8(A) , wave 1,3,5 is an impulsive wave of impulse phase because The trend of impulse phase up and, Impulsive wave are following the trend and heaving upward move.
And
wave 2,4 is the corrective wave of an impulse phase because the trend of the impulse phase is up but, the corrective wave is moving down, which is against the trend.
Motive/Impulse Phase in Bear Market :
Figure 1.8(B), wave 1,3,5 is an impulsive wave of impulse phase because the trend of Motive/impulse phase down and Impulsive wave are following trend and heaving downward move.
And
Wave 2,4 is the corrective wave of an impulse phase because the trend of the Impulse phase is down but, the corrective wave is moving upward, which is against the trend.
Corrective Phase/structure :
Important things about the impulse phase
1). The Corrective Phase is a three-wave structure that includes waves A, B, C.
2). The corrective phase is a counter-trend move ( moves against the trend.)
3). The Ending point of the corrective phase is the starting point of the Impulse phase.
4) correction phase can divide into two types of waves
i) Impulse waves: A, C ( move with Trend of correction Phase )
ii) corrective waves: B ( moves against Trend of correction Phase )
Corrective Phase in a bull market:
Figure 1.9(A ): wave A, C is the impulsive wave of the Correction phase because the trend of the correction phase is down and Impulsive waves are following the trend and heaving downward move.
And
Wave B is the corrective wave of a Correction phase because the trend of the Corrective Phase is down but, the corrective wave is moving upward which is against the trend.
Correction phase in Bear Market :
Figure 1.9(B) : wave A, C is the impulsive wave of the Correction phase because the trend of correction phase Up and Impulsive waves are following the trend and heaving Upward move.
And
Wave B is the corrective wave of a Correction phase because the trend of the Corrective Phase is Up but, the corrective wave is moving down, which is against the trend.
[ Note : here, the correction phase moves against the trend. That's why the market has a Downtrend but, the correction phase is in an uptrend.]
Impulsive wave structure :
1. Impulsive waves are directional moves that are bigger than corrective waves.
2. Impulsive waves create trends.
3. Impulsive waves are subdivided into five waves.
( that means wave 1,3,5, A, C which moves with the trend will have five sub-waves.)
4. Impulsive waves are easy to recognize.
(Impulsive waves can also be called motive waves)
5. Ride of impulsive wave can give us a high probability trade setup with high Rewards
We are going to cover impulsive wave formations in the next part.
(diagonals,extensions,Impulse,Truncation)
Figure 1.10: As we discussed, Impulsive waves subdivide into five waves.
Here wave 1,3,5, A, C has five subwaves which you can see in the chart.
Learn Elliot wave Zig Zag patternMahindra _Mahindra one hour current chart Zig zag correction
normal Zig zag correction show if wave A low not break see my chart learn Zig Zag correction find live chart
-> Daily chart Zig Zag patterns formation
it look like GABRIEL INDIA CHART Zig Zag correction
WAVE FORMATION
WAVE A ]show yellow colour circle --> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour
WAVE B show yellow colour circle --> in inner wave 3 wave sturture .i am count a,b,c in red colour
WAVE C show yellow colour circle ---> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour
Rules and objectives:
1--> zig correction first rule wave A down 5 wave sturture
2 --> Wave b up side move corrective phase 3 wave sturture
3--> Wave c direction again down side 5 wave sturcture
4--> Wave b upside not be more than 0.618% than wave A
5--> Wave-a should not retrace more than 61.8% of the previous Impulse wave of one larger degree.
6-->Wave-b should retrace at least 1% of wave-a.
7.--> Wave-c must move, even if only slightly, beyond the end of wave-a
see type of Zig Zag correction Line chart
(Elliot Wave ) How to find ZIG ZAG correction in Current chart GABRIEL INDIA
--> Daily chart Zig Zag patterns formation
it look like GABRIEL INDIA CHART Zig Zag correction
WAVE FORMATION
WAVE A ]show yellow colour circle --> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour
WAVE B show yellow colour circle --> in inner wave 3 wave sturture .i am count a,b,c in red colour
WAVE C show yellow colour circle ---> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour
Rules and objectives:
1--> zig correction first rule wave A down 5 wave sturture
2 --> Wave b up side move corrective phase 3 wave sturture
3--> Wave c direction again down side 5 wave sturcture
4--> Wave b upside not be more than 0.618% than wave A
5--> Wave-a should not retrace more than 61.8% of the previous Impulse wave of one larger degree.
6--> Wave-b should retrace at least 1% of wave-a.
7.--> Wave-c must move, even if only slightly, beyond the end of wave-a
see type of Zig Zag correction Line chart
Research report: flat correction (real-time) - Support Zone.In this " Research Report " we're going to be looking at the "Flat correction". As you know, with respect to the Wave Principle, there are three types of Corrections.
1. Zigzag
2. Flat and,
3, Triangle
We're going to examine the Flat now. The first thing that's important about this pattern here is being able to identify its characteristics.
First is, its substructure. What I'm referring to is if you notice within "A" wave, we have three waves ((A)), ((B)) and ((C)). Then, also within "B" wave be 3 more waves, ((A)), ((B)) and ((C)). These waves are labelled "A", "B", "C" and, then that followed by a 5 wave move 1,2,3,4 and 5 which is an impulse wave and sometimes an ending diagonal bottom line. The pattern is referred to as a 3-3-5 pattern. That's one characteristic of the structure.
Another characteristic of the structure is that wave "B" at or near the origin wave "A". The wave " C" is at or near extreme wave A. In rare instances, the wave "B" is surpass origin of wave "A" which is referred as an "Expanded Flat". But we're not talking about "Expanded flat" right now.
Now the next thing I would like to show you with respect this pattern. Here's a price chart of HCLTECH which real time price chart rather than utilizing diagram.
This is what I see when I label price chart three ways in A, B & C and wave "B" is near Origin wave "A" which dawned blue line.Okay.Next, For HCLTECH, impulse wave "C" which ends at or near the extreme wave "A". In this instance we actually went a little bit lower , typically with respect to wave.
The relationships have either wave C=A or 1.382 multiples of wave are very acceptable.
wave C = 1.382 of wave A, at 963
C = wave A, at 1073
Next we also need to take a look at Art of correct "Price Channel". How do we actually draw the trend lines that consists or make up the correct price channel whenever you're working with a flat correction? Very simply, you begin with the at the origin wave "A" to the extreme of sub-wave 2 of "C" and then take a parallel of that line of the extreme wave "A". Notice how in HCLTECH identifies nice trend line support for the extreme of Waves C.
My condition for breakout candle To avoid false breakout you need 3 condition for breakout
It is not sure that breakout become success but it increase ur odd in favour
The Ichimoku cloud Part 1 : 5 important parts of ichimoku cloudHowdy Traders ,
The Ichimoku cloud was evolved by Goichi Hosoda,
utilization of Ichimoku Kinko Hyo
1.identify support & resistance
2.momentum
3.Find trend direction
Parts of ichimoku cloud
1.kejun sen
2.Teken sen
3.senkou span A
4.senkou span B
5.kumo cloud
6. chikou ( we will learn in part 2 )
Happy Trading..............................................:) ;) ;) ;) ;) ;) ;)
