Its possible this is wave 4 and crypto is going to make a new ATH. theres no way for me to actually know this until after the fact. but it does look like this to me.
wave W is the main chart. to see the other legs see the notes
*** Elliott Wave: Quick Guide to W-X-Y (Double Three) Corrections
A W-X-Y is a complex corrective pattern in Elliott Wave Theory.
If your chart keeps printing choppy overlapping waves that refuse to trend/count cleanly, you’re probably looking at one of these.
- What W-X-Y Actually Is
A W-X-Y is simply:
W = 3 waves
X = 3 waves
Y = 3 waves
So the entire structure is:
*** 3 – 3 – 3 (total of nine internal waves which is 27 on a lower degree)
W and Y are corrective patterns (they can be zigzags or flats), and the X wave is a connecting correction—usually shallow, sideways, and time-wasting.
- What Each Leg Can Be
W:ABC or any corrective 3-wave structure
X: ABC pullback, often sideways
Y: ABC or another corrective structure
None of the legs are impulsive.
If you see a clean 1-2-3-4-5 impulse, it cannot be W, X, or Y.
- How to Recognize a W-X-Y
Corrections subdivide into threes, not fives
Price action is sloppy, overlapping, and often sideways
X wave is typically small relative to W or Y
Y often mirrors W in slope, depth, or duration
The whole thing looks like “two corrections glued together with an X in the middle”
- Where W-X-Y Appears
You’ll see W-X-Y commonly in:
B waves
Wave 4 corrections
The middle section of complex pullbacks
Crypto consolidations (extremely common)
wave W is the main chart. to see the other legs see the notes
*** Elliott Wave: Quick Guide to W-X-Y (Double Three) Corrections
A W-X-Y is a complex corrective pattern in Elliott Wave Theory.
If your chart keeps printing choppy overlapping waves that refuse to trend/count cleanly, you’re probably looking at one of these.
- What W-X-Y Actually Is
A W-X-Y is simply:
W = 3 waves
X = 3 waves
Y = 3 waves
So the entire structure is:
*** 3 – 3 – 3 (total of nine internal waves which is 27 on a lower degree)
W and Y are corrective patterns (they can be zigzags or flats), and the X wave is a connecting correction—usually shallow, sideways, and time-wasting.
- What Each Leg Can Be
W:ABC or any corrective 3-wave structure
X: ABC pullback, often sideways
Y: ABC or another corrective structure
None of the legs are impulsive.
If you see a clean 1-2-3-4-5 impulse, it cannot be W, X, or Y.
- How to Recognize a W-X-Y
Corrections subdivide into threes, not fives
Price action is sloppy, overlapping, and often sideways
X wave is typically small relative to W or Y
Y often mirrors W in slope, depth, or duration
The whole thing looks like “two corrections glued together with an X in the middle”
- Where W-X-Y Appears
You’ll see W-X-Y commonly in:
B waves
Wave 4 corrections
The middle section of complex pullbacks
Crypto consolidations (extremely common)
Nota
X wave detailsNota
Y wave details
When I make a post, i will continually make updates while the PA is building and moving so you can follow my thinking. Follow for notifications. Boost and make comments to let me know you care.
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La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
When I make a post, i will continually make updates while the PA is building and moving so you can follow my thinking. Follow for notifications. Boost and make comments to let me know you care.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.