# Tron Elliot Wave

BINANCE:TRXBTC   TRON / Bitcoin
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859
This is a neutral strategy, i dont have any tron assets i do this because of popular demand via private messages.

Idk that elliot wave looks funky. Wave 2 shouldnt retrace that much ever. In elliot wave theory correctional waves 2 and 4 tend to bounce off the .618 ratio. Looks more like we are approaching a 5th wave, but honestly could just be the start of a new impulse wave since the last few days have been a correction ABC pattern pretty to the dot.

darklord_
@darklord_,
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.

Guide lines:
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:
• Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
• Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
Traders can thus use the information above to determine the point of entry and profit target when entering into a trade.

Maybe im wrong, but thats why it was a neutral strategy.

planabcfailed
@planabcfailed, for those who want to measure wave 5: There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3

You think we're in a wave 2... No way.. We are in a wave 4 about to be a 5

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