Home > Boards > Free Zone > Penny Trading - Technical > Triple 000 and Sub-penny Chart Plays
Followed By 5929
Posts 217152
Boards Moderated 6
Alias Born 06/04/2009

Tuesday, January 04, 2022 1:19:12 AM

Re: trader53 post# 234134

Post# of 240676
Sell after an Elliott Wave 5-Wave Advance




________________________________________________________________


The Elliott Wave 5-Waves Sequence

A Basic "A,B,C Corrective Wave"


https://www.metatrader5.com/en/terminal/help/objects/elliott/elliott_theory


Elliott Wave Basics
http://www.acrotec.com/ewt.htm

Elliott Wave Theory
http://ta.mql4.com/elliott_wave_theory








________________________________________________________________

















________________________________________________________________







Impulse Wave 1 - The Accumulation Stage
the Wave right after a prolonged downtrend.



Wave 1

The stock makes its initial move upwards.
This is usually caused
by a relatively small number of people
that all of the sudden
(for a variety of reasons, real or imagined)
feel that the price of the stock is cheap
so it’s a perfect time to buy.
This causes the price to rise.




Wave 2 - Stock Declines

At this point,
enough people who were in the original wave
consider the stock overvalued and take profits.
This causes the stock to go down.
However, the stock will not make it to its previous lows
before the stock is considered a bargain again





Wave 3

This is usually the longest and strongest wave.
The stock has caught the attention of the mass public.
More people find out about the stock and want to buy it.
This causes the stock’s price to go higher and higher.
This wave usually exceeds the high created at the end of Wave 1.





Wave 4

Traders take profits
because the stock is considered expensive again
.

This Wave tends to be weak
because there are usually more people
that are still bullish on the stock
and are waiting to “buy on the dips.”





Wave 5

This is the point that most people get in on the stock,
and is mostly driven by hysteria.

You usually start seeing the CEO of the company
on the front page of major magazines
as the Person of the Year.
Traders and investors start coming up with
ridiculous reasons to buy the stock
and try to choke you when you disagree with them.

This is when the stock becomes the most overpriced.
Contrarians start shorting the stock
which starts the ABC pattern.















Progressive Care Announces Launch of New Logo as It Continues to Upgrade and Strengthen Its PharmcoRx Brand RXMD Aug 8, 2022 10:42 AM

Current Developments at Argentum 47, Inc. and Roadmap to 2023 ARGQD Aug 8, 2022 10:29 AM

Kona Gold Beverage, Inc Expands Sales Team KGKG Aug 8, 2022 9:00 AM

The Power of Science to Stop a Killer NVS Aug 8, 2022 8:45 AM

Mru Patel Appointed Non-Executive Director of Axis Technologies Group, Inc. AXTG Aug 5, 2022 9:00 AM

HealthLynked to Premier "Forever: The End of Aging" Medical Documentary atCMX CinéBistro Theater in Naples, Florida on August 28th HLYK Aug 5, 2022 8:00 AM

Progressive Care Announces Shareholder Conference Call and Business Update on August 11, 2022 RXMD Aug 5, 2022 7:15 AM

IGEN announces Net Profit for Second Quarter 2022 IGEN Aug 5, 2022 7:08 AM

Kaya Holdings to Seek Licenses for First Ever State Legal Psilocybin Manufacturing and Facilitation Service Centers in Oregon KAYS Aug 4, 2022 12:44 PM

American Rebel Holdings Completes Acquisition of Champion Safe Company, Solidifying A Leading Position in Safe Industry AREBW Aug 4, 2022 10:27 AM

OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Summarizes Its Second Quarter of 2022 Results, Including a 588% Revenue Increase Over the Same Period in 2021 ILUS Aug 4, 2022 10:19 AM

New Intranet- and Cloud-based Monitoring and Management Interface Enhances ResGreen's BotWay Software RGGI Aug 3, 2022 10:53 AM

Todos Medical Initiates Validation Plan for PCR-based MonkeyPox Test at CLIA/CAP Clinical Testing Laboratory Provista Diagnostics TOMDF Aug 3, 2022 9:48 AM

EV TECHNOLOGY GROUP ANNOUNCES AGREEMENT TO ACQUIRE UP TO 100% OF FABLINK GROUP, SPEARHEADING FUTURE GLOBAL GROWTH EVTG Aug 3, 2022 9:39 AM

PSYC Corp's Psychedelic Spotlight Surpasses One Million Page Views for Third Consecutive Month PSYC Aug 3, 2022 8:30 AM