A thread 🧵 on how to use Elliott Wave Theory as a repeatable, rules-based trading system:
This wave 3/C trade should be every #ElliottWave analyst’s go to setup.
@sarper_onder Yeah, I’ve mainly been focusing on stocks over the last year or two and I rarely use the logarithmic function fibs on stocks. I almost forgot how well log fibs work on crypto.
I love seeing that extended 5th wave retracing to the territory of W2 of 5.
That is THE most reliable #ElliottWave concept and it usually sets you up for a home run of a trade. $OIL
Wintermute is dumping $ETH!
Over the past 3 hours, #Wintermute has deposited 61,847 $ETH ($160.3M) into #Binance and #Coinbase.
https://t.co/SNTl47HxlG
@AltstreetBet I’ve been at it for 6 years and I still have a bad habit of looking at too low of a timeframe.
Sometimes it’s me trying to lower my risk and use a lower degree invalidation for a stop.
Here’s a super simple edge using just Bollinger Bands on the $VIX.
A daily close outside of the upper band followed by a close back inside is a buy signal for $SPX, $SPY.
A daily close outside of the lower band followed by a close inside is a potential sell signal.