IS the market crashing?
In Elliott Wave Theory, flat corrections are a type of corrective wave pattern observed within financial markets. They occur when the market experiences a temporary pause or retracement against the prevailing trend before resuming its original direction.
Flat corrections are labeled as "3-3-5" patterns, which means they consist of three main waves: Wave A, Wave B, and Wave C.
Wave A: The first wave (Wave A) is a sharp and strong move against the trend. It represents the initial decline or retracement in the price.
Wave B: The second wave (Wave B) is a counter-trend movement, which retraces a portion of the decline from Wave A. It often appears as a corrective rally, but it is usually smaller in magnitude compared to Wave A.
Wave C: The third and most critical wave (Wave C) is another move against the trend, similar to Wave A. However, the key distinction is that Wave C subdivides into five smaller waves: Wave 1, Wave 2, Wave 3, Wave 4, and Wave 5.
Wave 1, 3, and 5: These are impulse waves that move in the direction of the larger trend.
Wave 2 and 4: These are corrective waves that retrace a portion of the previous impulse waves.
The completion of the 3-3-5 flat correction signifies the end of the retracement, and the market is expected to resume its primary trend afterward.
Flat corrections are labeled as "3-3-5" patterns, which means they consist of three main waves: Wave A, Wave B, and Wave C.
Wave A: The first wave (Wave A) is a sharp and strong move against the trend. It represents the initial decline or retracement in the price.
Wave B: The second wave (Wave B) is a counter-trend movement, which retraces a portion of the decline from Wave A. It often appears as a corrective rally, but it is usually smaller in magnitude compared to Wave A.
Wave C: The third and most critical wave (Wave C) is another move against the trend, similar to Wave A. However, the key distinction is that Wave C subdivides into five smaller waves: Wave 1, Wave 2, Wave 3, Wave 4, and Wave 5.
Wave 1, 3, and 5: These are impulse waves that move in the direction of the larger trend.
Wave 2 and 4: These are corrective waves that retrace a portion of the previous impulse waves.
The completion of the 3-3-5 flat correction signifies the end of the retracement, and the market is expected to resume its primary trend afterward.
Catatan
Catatan
This would be the bearish perspective. Bullish count would be that we just printed a zig zag where my yellow 1 is, and now we could be continuing up.
Catatan
Lower time frame bearish count
Catatan
PerspectivesCatatan
I would suggest that the triangle count is also on the table. I did label the first blue impulse but at the same time the move also smells like a 3 wave. Bit of a hybrid wave. Just putting it out thereCatatan
Bullish perspective if this continues as presented.
Catatan
Called as well. Blue (5) better not stay for a long time under the channel that is drawn . We want to see a quick wick that is bought up if we want the further developement to higher prices.
Catatan
Leaning bullish again.
Catatan
Better hold this zone if we want bullish continuation. This current structure has everthing a zig zag needs.
5/3/5 structure
Catatan
Called...
Catatan
Presenting the original bearish idea.
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