For instance, Fibs and trend lines are useful in trending markets while pivot points , support and resistance levels are helpful when the market is ranging. Before spotting those opportunities, you have to be able to determine the market environment. The state of the ...
In this lesson, we're going to discuss the following Harmonic Price Patterns: ABCD Pattern Three-Drive Pattern Gartley Pattern Crab Pattern Bat Pattern Butterfly Pattern The ABCD Let's start this lesson with the simplest harmonic pattern, and what could be more basic than your good ole AB ...
The 5 - 3 Wave Patterns Mr. Elliott showed that a trending market moves in what he calls a 5-3 wave pattern. The first 5-wave pattern is called impulse waves . The last 3-wave pattern is called corrective waves . In this pattern, Waves 1, 3, 5 are motive , meaning they go along ...