EWT Community intro post

in hive-151503 •  last month  (edited)

This is a small intro post for the EWT community

If you know about the symmetry in nature (especially observable in plants) let me tell you that this symmetry is a law of nature and can be found in anything if you look closely enough (even in the stock market). It is everywhere...
To interested observers, it is very obvious that this world we live in (the entire universe) is delicately built on what we call "math".
These math patterns also appear and reappear countless times in every market (which has enough liquidity to function properly).
The most basic pattern of markets is three steps forward, two steps back. This is called an impulse wave (1-2-3-4-5) and a correction (ABC):

imp.JPG

The "waves" of the markets can be described with "impulse waves and corrections".
The corrections can take many different forms and there are many rules to them, but these are the most basic corrections:

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I guess it is obvious by now that it is easy to make consistent profits in the markets if you are able to identify the most common patterns.
Elliott waves give the Trader an edge in the market if he is able to ignore his emotions like FUD or FOMO.
EWT is black and white. There are rules that need to be met. If they are not met, the count you have is 100% incorrect. That is why it is so easy to set appropriate stops with EWT. You ALWAYS know before entering a trade where you need to get out of the market because your analysis was wrong.
EWT is all about probabilities. No Trader is right 100% of the time. If anybody tells you something different, run...
But you don't need to be right all the time because you can set tight stops.
In fact, there are profitable Traders with a win rate of only 30%. But their winners are way bigger than their losers. It is all about money management (MM)...

That's it for the intro post. Stay tuned and subscribe...

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Looking forward for the next posts on this topic. Also iw would be interesting to propose readers a task to analyse waves on real charts and after that describe your vision.

Thanks for the suggestion. I'll do that occasionally whenever I find a chart that is not too difficult or has too many alternates.

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Please continue teaching. It is very interesting to learn other ways to à analyse the market.