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Elliott Wave Calculator For Uptrend
"Take your trading to new heights with the Elliott Wave Calculator for Uptrend- the ultimate tool for unlocking profitable opportunities with speed, accuracy, and confidence".
"Enter the corresponding value of any underlying asset during and make smarter trading decisions with our real-time calculator."
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"Unlock the potential of smart trading with the Elliott Wave Calculator - your trusted tool for pinpointing profitable trade opportunities in stocks, options, futures, and commodities. Explore the precision of market forecasting and make informed decisions with ease. Stay ahead of the game with timely and accurate signals, and take your trading to the next level with the Elliott Wave Calculator."
This is the uptrend Elliot wave chart representation.
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How to use uptrend Elliott Wave Calculator?
This system can be used for both intraday and positional trading.
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To use this system, you must enter the high, low and close for the time frame, you want to trade.
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If you want to trade for a time period of one week, take the high, low and close of the last week before beginning of next week.
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If you want to trade for a time period of one month, take the high, low and close of the last month before beginning of next month.
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Similarly for one year.
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If you want to trade intraday, you should take the high, low and closing price for previous day.
Relation Between Fibonacci and Elliott Wave Theory
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
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Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
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Wave 3 is typically 161.8% of wave 1
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Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
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Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
Traders can thus use the information above to determine the point of entry and profit target when entering into a trade.
Impulse wave Guidelines
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Impulse wave subdivide into 5 waves. In Figure 2, the impulse move is subdivided as 1, 2, 3, 4, 5in minor degree
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Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is ((i)), ((ii)), ((iii)), ((iv)), and ((v)) in minute degree.
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Wave 2 can’t retrace more than the beginning of wave 1
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Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
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Wave 4 does not overlap with the price territory of wave 1
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Wave 5 needs to end with momentum divergence
Fibonacci Ratio Relationship
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Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
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Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
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Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
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There are three different ways to measure wave 5.
First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4.
Second, wave 5 is equal to wave 1.
Third, wave 5 is 61.8% of wave 1-3
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What Is the Origin of the Wave Theory?
Ralph Nelson Elliott is known as the father of wave theory, also known and more precisely as the Elliott Wave Principle. Elliott, who was born on July 28, 1871 in Marysville, Kansas, achieved his final goal late in life through a circuitous route.
R.N. Elliott was forced to retire at the age of 58 after a long career in various accounting and business professions due to an illness contracted while living in Central America. He dedicated his complete attention to analyzing the movement of the stock market while healing, needing something to occupy his mind.
What is the Elliott Wave Principle?
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The Elliott Wave Principle is named after Ralph Nelson Elliott, who discovered it.
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The Elliott Wave Principle measures investor psychology, which is the true driving force behind stock markets. People bid up the price of a specific issue when they are hopeful about its future.
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Two observations can assist you in understanding this: For first off, investors have long observed that events outside of the stock market have little systematic impact on its performance. The same news that appears to be driving the markets up today is also likely to bring them lower tomorrow. The only logical conclusion is that markets simply do not respond consistently to external events. Second, when you look at historical charts, you can observe that markets always unfold in waves.
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Using the Elliott Wave Principle is an exercise in probability. An Elliottician is someone who can detect the structure of the markets and forecast the most likely future move depending on our position within those structures. Knowing the wave patterns will help you predict what the markets will do next and, more importantly, what they will not do next. The Elliott Wave Principle identifies the most likely moves with the least risk.
Cycles and waves:
The psychological aspect of trading can frequently produce waves rather than simply straight lines, and these waves are a key characteristic of Elliott's theory. To a significant extent, this reflects Elliott's research into Charles Dow's work, as Dow Theory states that stock prices often move in waves. He also employs cycles, which explains the patterns' restitutive nature. The theory focuses on waves as the primary form seen in markets, with the fractal nature of his waves demonstrating that the same patterns can be seen in both short-term and long-term charts. Given that Elliott noticed the same patterns repeatedly, he proposed this as a potential technique for forecasting future price fluctuations.
Elliott’s waves:
Elliott observed that there is usually an impulsive wave that travels with the trend, followed by a corrective wave that goes against the trend. He observed that there are normally five waves that combine to form one larger impulsive wave, followed by a three-wave corrective phase. The ability to observe the first five waves as one impulsive move emphasizes the fractal character, given that the same patterns are likely to be seen on smaller and bigger timeframes.