ELLIOTT WAVE ON ONE MINUTE CANDLES
This is how a textbook Elliott wave candlestick formation looks. It doesn't get much prettier than this.
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GetRekt : What’s that mean?
SpyderCall OP GetRekt : it's a bullish formation. it's basically what a rally looks like. you don't usually get to see these on one minute candles but they happen. usually you see these over longer time frames. like over months or years
GetRekt : Ahhhh ok .. great news then
SpyderCall OP GetRekt : here is a more typical Elliot wave on natural gas Futures which lasted several months. usually they last a lot longer than just one minute candles
GetRekt : How high u think this will get?
SpyderCall OP GetRekt : to be honest I have no idea. I don't know much about this company. I know they own a lot of that HKD stock. I was only trading the technical patterns on the daily the candles and I got lucky. I basically bought the dip after a big rip. I've only been holding a few days
GetRekt SpyderCall OP : Ahhh ok I have this info
SpyderCall OP GetRekt : good info![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
SpyderCall OP GetRekt : there goes another Elliott wave on the one minute candles. some investors follow the Elliott wave theory. and if this price action will continue and this ticker symbol will keep following Elliott wave theory then we should see many more Elliott waves. we should see a lot of these smaller Elliott waves individually building up into the bigger Elliott waves on the longer term time frames. I doubt that will happen for a low price penny stock like this. but that is how the Elliot wave theory works in a nutshell
SpyderCall OP GetRekt : and also you should take note that in an Elliott wave at the end of the third wave or the third hump in the wave you usually get a little consolidation or possibly a dip to buy into before the next phase in the Elliott wave starts. I'm not saying to buy the dip in this penny stock but all I'm saying is that is usually how the Elliott wave goes after the third hump in the wave
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