New Elliott Wave Rule

Elliott Wave technician, market analyst, and price action trader. Account established by TS Hennessy, the author of the new rule in Elliott Wave trading.

[New Elliott Wave Rule @NewElliottWRule]

Education for profit - research paper:

https://t.co/jslt0oMdk2

[New Elliott Wave Rule @NewElliottWRule]

Elliott wave triangles are probably the biggest traps for technical analysts.

[New Elliott Wave Rule @NewElliottWRule]

Don't be overly confident about your wave counts. What you think is a reversal of a trend because you counted 5 waves could still be a part of a bigger correction. #ElliottWave #tradingpsychology

[New Elliott Wave Rule @NewElliottWRule]

In the past, wave 2 was expected to retrace about 0.5-0.616 of wave 1. Today, due to algo trading, retracements as deep as 0.8-0.9 become more and common. #Elliottwave #algotrading

[New Elliott Wave Rule @NewElliottWRule]

It's not always a good idea to rely on trendlines in Elliott Wave because price often crosses them to complete a valid pattern. #Elliottwave #tradingforex

[New Elliott Wave Rule @NewElliottWRule]

To me it's an expanding triangle. Virtually impossible to predict it unless wave C or E reach a new extreme and even then you'll know it was an expanded triangle after it is completed. #TRADINGTIPS

[New Elliott Wave Rule @NewElliottWRule]

What is the most tricky of Elliott Wave corrections? Do you have any favorites? #ElliottWave #technicalanalysis #tradingstrategy

[New Elliott Wave Rule @NewElliottWRule]

Due to ambiguous nature of Elliott Wave triangles, they should not be prioritized over other types of corrections, unless they are in a primary wave 4 of an impulse wave. #Elliottwave

[New Elliott Wave Rule @NewElliottWRule]

Elliott Wave analysts don't really know how many guidelines there are. There are a dozen of established guidelines, and possibly up to 50 less known ones.

[New Elliott Wave Rule @NewElliottWRule]

Elliott Wave doesn't have established time for how long a wave should last, but we can use Fibonacci ratios and guidelines to try to predict when a wave might finish. It's not a very reliable way though.

[New Elliott Wave Rule @NewElliottWRule]

Elliott Wave triangles are commonly in wave 4 of an impulse wave and wave B of a zigzag (less commonly in flats).

[New Elliott Wave Rule @NewElliottWRule]

Some Elliotticians have suggested that the best wave to trade is wave 5 because truncation almost never happens. The problem is, wave 5 may never happen either ; )

[New Elliott Wave Rule @NewElliottWRule]

When you think what is wave 4 retraces more than 0.618 of wave 3, the odds it is really wave 4 get smaller.

[New Elliott Wave Rule @NewElliottWRule]

In an impulse wave, volume tends to be the highest in wave 3 (with a divergence with wave 5).

[New Elliott Wave Rule @NewElliottWRule]

TIP: Contracting diagonals often break the wave 1-wave 3 trendline.

In expanding diagonals, the 1-3 trendline is rarely broken by wave 5.

[New Elliott Wave Rule @NewElliottWRule]

In Elliott Wave, truncations are extremely rare. It's best to only consider this guideline if there are no other options.

[New Elliott Wave Rule @NewElliottWRule]

The official Elliott Wave rules suggest that leading diagonals are rare, but it in real markets they appear quite often.

[New Elliott Wave Rule @NewElliottWRule]

If a single Elliott Wave rule is broken, the whole pattern is invalid.

[PriceActionHelp @PriceActionHelp]

Popular chart patterns vs Elliott Wave patterns:

1. Double / triple top | bottom, head & shoulders | inverse, bullish / bearish flag, megaphone.

2. Rising / falling wedge, triangle / pennant, cup & handle, rounding top / bottom.

More updates: https://t.co/2Meqow7CKk

[New Elliott Wave Rule @NewElliottWRule]

Corrections usually last longer than hoped for, especially wave B of a zigzag or wave 2 of a motive wave.