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Thread: Strategy for Elliot Wave and Fibo Civet
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    Strategy for Elliot Wave and Fibo Civet

    Special greetings for forum admins, hope you are happy always and remain kind with traders here ...
    This time I asked permission to create a thread in this strategy as an implementation of the trading strategy that I developed even though it was not in the category of a new trading system but this was a combination of elliot wave and fibo ferret.

    In the elliot wave strategy I made it as a mapping of market movements so that it would be easier to see the direction of market movements with various wave formations and the types of waves that occur. In this approach I use the monthly time frame to H1 or arrive at M5 to calculate the waves formed in waves.

    The fibo ferret approach aims to find out when we will make entry points and also exit markets. In this approach I combine it with the Elliot wave to find out the entry doors and also exit from the entry. So that the waves formed as the main market map will be easier to see when it will end from a wave trip and when it will start again to go to the next wave.

    Hopefully the combination of these two techniques can make us more comfortable in the transaction without being burdened with prolonged floating and open positions that are not clear for the reason. And my hope is that this knowledge can be useful for friends and can be a support of the strategies that friends use today and most importantly can bring us together to become professional traders ... AMIN

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    Know impulsif and corrective waves

    A. IMPULSIF WAVES
    This impulsive wave is a wave of trends from a market where in this impulsive wave consists of 5 waves with labeling 12345. This wave is the target of world traders because of its long and short movements so that it is a favorite sought by traders. So this impulsive wave is a sign of a trend rather than a market. In determining this impulsive wave, it is more subjective in determining it, so that newbies who want to learn this elliot wave become confused because there are often differences and determination of waves that are running whether including impulsive waves or not.

    One way to determine whether an impulse wave is running or not is to make a rule rather than the wave of this elliot wave which consists of 5 basic rules. This rule is a reference in mapping labeling and determination of waves so that there is no subjectivity in its determination. Besides the rule, it is also helped by the trendline that we will discuss in the next material.

    B. CORRECTIVE WAVES
    Corrective waves are waves of resistance rather than movements in market trends where these waves become short waves and irregular market trips and indeed there are no rules in their movements. Determination of corrective waves is not too subjective because indeed the shape and type of movement is easy to read. One characteristic of corrective waves is that the movement is short and time is long and the range of movement is not too large. This cognitive wave uses ABC labeling.

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    So the conclusion is that impulsive waves are waves consisting of 5 waves with labeling using numbers 12345 while corrective waves are waves consisting of 3 waves with labeling ABC letters. Therefore I conclude the basic clue of the elliot wave is
    "ONE IMPULSIVE WAVE IS FORMED BY 5 WAVES IN IT"
    "A CORRECTIVE WAVE IS FORMED BY 3 WAVES IN IT"

    C. WAVES IN WAVES
    Waves in this wave are applications in understanding the elliot wave impulsive and corrective waves, where in one wave in a large time frame is the result of the formation of small waves inside. So that the end of the wave in a large time frame will know the ending of the wave wave calculation with a base reference rather than the elliot wave base clue. Suppose that one impulse wave at the daily time frame is formed by 5 waves in the H4 time frame, and 21 waves in the H1 time frame. This is what makes it complicated and difficult for new traders who learn elliot waves, but with clues rather than elliot waves, I hope that many friends will easily understand it.

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    How to calculate and determine impulsive and corrective waves?

    Is running now an impulsive or corrective wave? To determine this we need to start from the main market roadmap. This main roadmap is a long-term market travel map, so from this main raodmap we will understand what waves are running now whether the waves are impulsive or corrective. I take the example in this case is the EURJPY currency. If observed from the main roadmap it is clear that prices are in the formation of a correction wave. For this case because it is related to the market pattern that we have not studied, then we just follow that now in the formation of one of the corrective wave derivatives, namely the barrier triangle with its wave formation is 33333 in the abcde. We will see market movements in the last wave of Weekly time frame to H1. It is very important to look deeper into the type of wave formed.

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    If we look at the EURJPY roadmap above, it is clear that the price is in the formation of wave D. where in D wave it will only form an abc wave because the main pattern associated with the roadmap is triangle. Therefore in this Weekly time frame we will only see the wave movements in the current wave D. It should be noted that we will see how the wave formation in the wave ... is it that in the correction wave formed at this large time frame there is an impulsive wave in a small time frame? It is important to look at opportunities for transparency even though in this study we are not discussing the market entry process.

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    On daily data the formation of waves in waves is much more noticeable especially in waves. We still hold the principle in accordance with the first material about impulsive and corrective waves and waves in the waves. In daily data where the price of wave D is currently in the formation of waves c. what needs to be considered is the formation of d wave formation which consists of 3 waves. whether to zigzag or flat. although we have not studied this material but in this case it is important because the type of wave in the main roadmap is a corrective wave. The waveform d is clearly visible is 335 or flat. meaning that wave a is 3 waves, wave b is 3 waves and wave c must be an impulsive wave 5 waves. So now the formation of wave c is flat 335.

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    So with the data from this roadmap we will know where the map of price movements and also the type of wave that is formed at this time. thus giving us opportunities to enter and exit the market. Next, we can explore the waves in a small time frame perfectly and still the daily roadmap will be the reference for the H4 and H1 analysis. hopefully it can be understood ...

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    Example of Determining ElliotWave Corrective Waves

    Good morning everyone, starting today, let's learn how to determine corrective waves c with Elliot waves on the USDCAD pair chart.

    Ok, I will start from the H4 time frame. this is a reference from H1 data. where on this ucad from H4 data is an illustration to paint on H1. In this H4 data, the price is in the movement of the formation of an impulsive wave pattern. meaning usd will strengthen sharply.
    previous data:

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    Subsequent data:

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    At H1 the wave will be clearer. pay attention to the wave in the wave. and for the end of wave 2, it cannot be closed lower than the beginning of wave 1. If it happens then the wave needs to be renewed.

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    KNOW FIBO CIVET

    Fibo Civet (Weasel) is one of the trading strategies released by our brothers from Malaysia who according to the story of the two owners they conducted research for approximately 20 years with various stories of grief that indeed must be experienced by almost all traders in the world in building this business. In this trading system it consists of approximately 12 level entries starting from level 1 to level 12 with each rule in each level. In this case, I will not introduce all levels of fibo ferret entries to my friends and I only introduce some of them as needed in the elliot wave analysis of entry levels 1-2-3-4-7-9. Well, what I use a lot is 1-2-3-4 level. This level most often appears in the elliot wave analysis. In addition to the entry level and what is important is fibo modification. this will help us in determining the price projections of the destination rather than the market.

    But before we know the entry level, we should first know the type of candle that is the door and the key of buyers and sellers
    To get to know the entry zone in fibo ferrets we use only one type of candle stick, namely engulfing.

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    After we get to know the type of candle stick then we will know the initial break and candle break. this is important because the initial break is the door of the seller and the buyer of the wave as a sign of the end of a wave movement cycle while the Candle break is the key so that we can make a decision on market entry
    There are two types of inital break, namely initial break and dominant break

    The initial break is divided into: -
    1. One to one break = Candle before 'break' with 1 candle stick during the time
    2. Dominant break = Candle before 'break' by more than 2 candle bars

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    Candle break or CB is one of the cycles of waves where the corrective wave area is the opening key of the seller or buyer.

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    Continuing the discussion about fibo civet which I have presented in this section, now is the time to determine the location for entry.

    A. Level 1 entry

    This level 1 entry serves as a marking in determining the area tp 2 and 3. To make this marking we will start from the daily-H4 time frame. where this area becomes a strong area of support and resistance.

    The rules:
    1. Mark zone B in the shadow daily area.

    2. After being marked, move to H4 and the body marking.

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    B. Level 2 entries

    Level 2 entries are entries that occur after the break of the candle break from the key buyer or seller and the price returns to the IB zone. Now we try to see the example in the live market.

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    For EL 3-4-7-9 next time ... this is the first thing to understand and in the future I will use this fibo civet combination with the elliot wave according to the thread title above ... hopefully it can be understood, guys.

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