#2 | Understanding Wave Analysis Theory
It's a simple concept.
Impulsive wave, corrective wave, impulsive wave, corrective wave...
You may think I'm here to talk about Elliot... (if you know him)
No.
The problem with Elliott Wave Theory is...
IT'S TOOOOO OLD.
It has a lot of problems...
The markets of 1938 aren't the same as the markets of 2022.
I'll show you an updated version...
The biggest mistake beginners make when they trade the flag pattern is
FALSE ENTRY.
Have you ever traded a flag when it breaks the trend line, then it goes straight to hit your stop loss?
Absolutely yes, one reason for this is...
YOU DIDN'T UNDERSTAND THE STRUCTURE OF THE WAVES YOU WERE LOOKING AT.
99% of beginners do rely on stupid strategies that say:
IF THE PRICE BREAKS THE TREND LINE, JUST BUUUUUY.
Because of that, they get disappointed results...
WRONG ENTRY.
WRONG STOP LOSS.
WRONG TARGET.
EVERYTHING GOES WRONG.
I highly recommend you have a basic understanding of Dow Theory and Elliot Wave Theory.
They are the structure of this updated WA version.
That will make you able to understand the upcoming ideas and analysis where I will share with you details and my strategies to trade the regular-flag properly.
If I see likes, I'll post the 3rd idea about the different types of impulsive and corrective waves.
Make sure to follow us.
Impulsive wave, corrective wave, impulsive wave, corrective wave...
You may think I'm here to talk about Elliot... (if you know him)
No.
The problem with Elliott Wave Theory is...
IT'S TOOOOO OLD.
It has a lot of problems...
The markets of 1938 aren't the same as the markets of 2022.
I'll show you an updated version...
The biggest mistake beginners make when they trade the flag pattern is
FALSE ENTRY.
Have you ever traded a flag when it breaks the trend line, then it goes straight to hit your stop loss?
Absolutely yes, one reason for this is...
YOU DIDN'T UNDERSTAND THE STRUCTURE OF THE WAVES YOU WERE LOOKING AT.
99% of beginners do rely on stupid strategies that say:
IF THE PRICE BREAKS THE TREND LINE, JUST BUUUUUY.
Because of that, they get disappointed results...
WRONG ENTRY.
WRONG STOP LOSS.
WRONG TARGET.
EVERYTHING GOES WRONG.
I highly recommend you have a basic understanding of Dow Theory and Elliot Wave Theory.
They are the structure of this updated WA version.
That will make you able to understand the upcoming ideas and analysis where I will share with you details and my strategies to trade the regular-flag properly.
If I see likes, I'll post the 3rd idea about the different types of impulsive and corrective waves.
Make sure to follow us.
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