---

Disclaimer: The information's contained in this explanation is the result of my understanding of Elliott Wave Theory and may contain some errors. Search and confirm about it.

---

Table of contents

      1. What is Elliott Wave?
      2. Cycles and waves
      3. The theory
      4. Basic rules on impulse
      5. How to trade?



What is Elliott Wave?

It was developed by Ralph Nelson Elliott to describe price movements in financial markets. Its principle is based on the idea that financial markets tend to follow specific patterns, whatever the time frame in which they observe and identify patterns of repeated fractal waves.

Elliott waves can be used to analyze financial market cycles and can be used in investor psychology, highs and lows in prices, and other collective factors.


Cycles and waves

The psychological behavior of trading is reflected in the form of waves rather than simple straight lines which is one of the biggest features of Elliott theory. It is a reflection of the Elliott studies of Charles Dow's work, in which the Dow theory states that stock prices usually move in waves.

It can be used as a tool for technical analysis and trying to determine market cycles and trends, but it is not a trading technique but rather a theory that may help in predicting market behavior.

Elliott saw that with each direction there are usually impulsive waves (five waves), followed by a corrective wave in the opposite direction (three waves).

Source: https://www.ig.com/en/trading-strategies/elliott-wave-theory-explained-180830

This pattern repeats itself indefinitely on ever smaller scales, regardless of time scale.


The theory

Each impulsive movement will be followed by a corrective move. Where the first five waves can be represented by impulsive movements (called numbers 1-5) that move in the direction of the main trend. The next three waves provide corrective waves called A, B, and C.

Source: https://comparic.com/elliott-wave-theory/

Once the 5-3 move is complete, we have completed a single cycle.

The awesome oscillator can also be used to identify waves, as it compares the rate of change in prices. It can also be used to form the 5 wave using the 7-period moving average (DMA) and the 5-period shift to the right.

Basic rules on impulse

Source: https://comparic.com/elliott-wave-theory/

• Wave 2 never retraces more than 100% of wave 1;
• Wave 4 retraces more than 100% of wave 3;
• Wave 3 always goes beyond the end of wave 1;
• Wave 3 cannot be the shortest of the three impulse waves.
• Wave 4 is not in wave 1 area.

Source: https://comparic.com/elliott-wave-theory/

Elliott illustrated a series of categories for waves, which show when you will see the same patterns in both the long-term and short-term charts:

• Supercycle: (about 40 to 70 years)
• Cycle: one year to several years
• Intermediate:weeks to months
• Minor: weeks
• Minute: days
• Minuette: hours
• Sub-minuette: minutes

How to trade?

It can be used successfully if the following two conditions are met. It can also be used effectively with Fibonacci retracements.

• One-way pulse start and irregular correction.
• Impulse and correction as zigzag.

Look for the pulse as a quintuple movement in any direction, check if the end of the pulse is an additional three-wave structure (50%, 62% and 75%.)
Place your stop loss above the critical retracement level 75 and you can take profits by setting a third wave range based on the first wave.

Another scenario:
Look at rule three, and look for the fourth wave to be relatively shallow, with 23.6% -50% levels of particular interest. We can also look for the correct A, B, C move to be a 50% -61.8% retracement of the full impulse 1-5.

Very thankful:  https://comparic.com/author/przemyslaw-jarzabek/

---

Source

Code:

https://www.ig.com/en/trading-strategies/elliott-wave-theory-explained-180830
https://comparic.com/elliott-wave-theory/
https://elliottwave-forecast.com/elliott-wave-theory/
https://www.investopedia.com/articles/technical/111401.asp
https://www.investopedia.com/terms/e/elliottwavetheory.asp#:~:text=Key%20Takeaways,that%20oppose%20the%20larger%20trend.
https://academy.binance.com/economics/an-introduction-to-the-elliott-wave-theory

In a 67-27 vote demonstrating broad support, senators agreed to limit debate on the legislation, the biggest investment in decades in America's roads, bridges, airports and waterways.


Biden tweeted his support ahead of the vote, saying the "once-in-a-generation investment in our nation's infrastructure" would create good-paying jobs refurbishing America's roads, bridges, water systems and electrical grid.

"We can't afford not to do it," the president said. "We can't just build back to the way things were before COVID-19, we have to build back better."


Source: https://www.reuters.com/world/us/us-senate-meets-saturday-consider-1-trillion-infrastructure-bill-2021-08-07/

Does printing money in the US affect Bitcoin? So what if $3.5 trillion is passed, will we see an increase in the price of Bitcoin?

You need to spend money on the basics of life from things you need to buy daily, newspapers, magazines, electricity, haircuts, and others. You can not stop spending money, but the increase in the value of money will make many people prefer to reduce their spending to increase their money.
Humans, by nature, tend to spend, so do not be afraid of this aspect. The price of 50 thousand dollars is enough for some people to sell and not enough for others.

In this way, you will increase changes of hacked, risk losing your money and weakening your privacy.
The best way is to import your master public key to your android wallet where you can track that wallet from the Android app.
alternatively  you can do that using explorers such as blockchair

I think my account is worth that amount so I won't risk scam, plus I'm willing to put $500 into escrow for a month or two before making the transaction and get it back after that time.

The amount has been reduced 450.
I'll pay $500 and get $450 BTC.

You must identify whales and accordingly you can analyze the blockchain to see how many currencies are moved daily.
Most of the whale's movements are in foreign markets or indirect investment in derivatives stocks or GBTC.
You can record all bitcoin blockchain data and then know the directions of the whales, but it will not help you to accurately predict the price.

Rely on third parties for analysis and you will find more accurate data than doing it yourself, glassnode for example.

The way in which coins are mined depends on the nature of the algorithm used and the difficulty of mining, these two conditions make it impossible to update Bitcoin with traditional computers.
You can mine altcoins with these machines, but the upward trajectory of those coins will determine their future.
Many altcoins decline in the long term, so mining them is a waste of time.

1. TOR, proxy, VPN, ...etc. They are all used to enhance privacy, if you don't know how to set them up, you should choose the basic ones. Remember, it is your privacy that will be affected, not the security of your wallet.
2. The servers do not generate the address, but the wallets. HD wallet addresses are generated from seeds, which differ from one seed to another and cannot be the same.
3. AFAIK, the only differance is addressing way, full does does not index the blockchain  by address, which electrum server does.

Teaching someone a new idea means that it is difficult to implement, takes time and may not always work, so many choose to get the fish rather than learn it.
There's another lovely saying that says you can't teach your old dog a new trick.
People have become lazy and used to the old systems, so teaching them to use a new system will take a long time and you may not succeed in that.

Wallet balance is a collection of all balances with all addresses (UTXO) that were listed in previous blocks, so if you do not control how to send your money and how to control your privacy, your transactions will be tracked.
One way to increase security is to use a well-programmed wallet that supports coin control.

it is Bullish News!!!  for everyone who buys Coinbase share and it is good for investors, but this does not mean that the price will rise.
FUD will rise in the coming days because many expect the price to change just as it happened in 2017, so there are many positive news that will continue.

It is good to see how easy it is to buy bitcoin and withdraw to wallets.

hello as i say i have 500 paypal and need 480$ bitcoin
ready to go first if you are a trusted person and PM before start making deal.

Only trusted members or you need to go first. will use my account as escrow and read to use bitcointalk escrow.

I began to agree with you. A lot of peer-to-peer transactions have become a source of suspicion and can be considered dangerous.
The problem is that although cryptocurrencies can be tracked, many countries do not have enough resources to track these transactions, and because they are multiple countries, it will become impossible to track them.
So it is a suitable place for all scammers.

If you can prove that you need these coins and you are ready to return them as soon as they are finished, I can send you the names of some people who have more than 1 BTC test coins.
Some users may give you this number or you may need to email more than one.

Unless a major event occurs such as a world war or others, it is difficult to get rid of paper currencies and therefore betting that it will end soon is not a good belief, as it is difficult to accept all bitcoins and all forms of decentralized cryptocurrencies.

Cryptocurrency prices are very volatile and still in their initial stages, but let's not think that either there will be fiat currencies or there will be no Bitcoin. The middle option is always good.

I hope the questionnaire is related to financial matters such as knowing inflation levels, the effects of printing money, the reason for currency depreciation instead of Bitcoin price models, invest $100 and you will be rich and so on.
Beginners have weak hands, they will not hold cryptocurrencies for long periods and will start selling as soon as the price drops, thus making more losses.

Thanks everyone, I will give it a try with small amounts and since there are no reports of account closure or identity verification request, it might be a good alternative to Binance because I think they will start banning accounts soon.

The limits of 5 bitcoins seem too much I hope they succeed in moving away from regulatory opinions.

It's not the first time I remember a similar story from Coinbase where the change in price was so vast.



I do not know if everyone affected by this matter will be compensated, but you can contact the support team and they will give you accurate answers.

My country IP is banned from using Binance, but I have an account for about two years and I use a dedicated VPN IP address to access that account. I never had a problem in this whole time.

with recent Binance Dramatically Reduces Daily Withdrawal Limits, I thought of trying another platform. Is kucoin safe as Binance in terms of accessing accounts using VPN? Have you had any problems before?

The question is why such companies need to accept bitcoin? The reason Tesla does this is that they prefer it more than keeping the cash, but Amazon can get rid of the cash quickly and it doesn't need any more extra money.
Accepting Bitcoin will increase the headache if the user requests a refund as many users rely on Bitcoin as a store of value and therefore will not spend it.