The power of Elliott Wave is in its fractals. As mentioned in the intro to Elliott Wave Theory article, the market can be broken down into five and three wave chunks that help determine the direction and strength of the market. These waves can be further broken down in dub degrees, with each wave manifesting smaller five and three wave patterns. Being able to identify how the smaller timeframe fractals play into the larger ones is a key component to successfully trading in the crypto market. Most importantly, fractals allow you to confirm counts and better anticipate price action.
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Elliott Wave keeps things organized in the following cycles and timeframes. When you label your trading charts, you should clearly mark your cycles and sub-cycles to help keep your chart clean and easy to read. Understanding how to read the different fractals is a key component to the New Wave Academy, and an important step to becoming an independent trader.
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