Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 176941, member: 40858"] Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of BABA. As our members know BABA has recently given us pull back against the 199.12 low. Pull back unfolded as Elliott Wave Zig Zag Pattern. We expected buyers to appear at the Blue Box , calling for rally in 3 waves bounce at least. In the further text we are going to explain the Elliott Wave Pattern and the Forecast. Before we take a look at the real market example, let’s explain Elliott Wave Zigzag pattern. [B]Elliott Wave Zig Zag Pattern[/B] Elliott Wave Zigzag is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements. At the graphic below, we can see what Elliott Wave Zigzag structure looks like. 5 waves down in A, 3 waves bounce in B and another 5 waves down in C. [URL='https://elliottwave-forecast.com/wp-content/uploads/2020/02/ZIGZAG-Vlada.jpg'][IMG alt="BABA"]https://elliottwave-forecast.com/wp-content/uploads/2020/02/ZIGZAG-Vlada.jpg[/IMG][/URL] [B]BABA 1 Hour Elliott Wave Analysis 2.7.2020[/B] As we can see on the chart, we are getting 3 waves down in wave ((ii)) black pull back. Pull back is unfolding as (a)(b)(c) Elliott Wave Zig Zag pattern. First leg (a) was a very sharp decline, which is obviously impulsive structure. ( 5 waves are not labeled on this chart but they’re visible on lower time frames) . Then we got 3 wave bounces in wave (b) . And finally, doing last leg down (c), which is still in progress. Pull back looks incomplete at the moment,missing equal legs : 213.87-207.2 area. We expect last push down to take place soon, to complete 5 waves in (c) leg. We don't recommend selling the stock. [I]You can learn more about Zig Zag Elliott Wave Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2020/02/BABA-7-Feb-1H.png'][IMG alt="BABA"]https://elliottwave-forecast.com/wp-content/uploads/2020/02/BABA-7-Feb-1H.png[/IMG][/URL] [B]BABA 1 Hour Elliott Wave Analysis 2.14.2020[/B] BABA found buyers right at the blue box area :213.87-207.2 area. The pull back wave ((ii)) completed as Elliott Wave Zig Zag at the 212.35 low. We got nice rally from there, however need to see break above 02/05 peak to confirm wave ((iii)) is in progress. Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the [B]Live Trading Room[/B] [URL='https://elliottwave-forecast.com/wp-content/uploads/2020/02/BABA-2.14.png'][IMG alt="BABA"]https://elliottwave-forecast.com/wp-content/uploads/2020/02/BABA-2.14.png[/IMG][/URL] [B]Elliott Wave Forecast[/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…