How can I identify an expanded flat pattern in cryptocurrency trading?

3 answers

• Dec 27, 2021 · 3 years ago
  Sure! Identifying an expanded flat pattern in cryptocurrency trading can be a valuable skill. One key indicator to look for is a three-wave structure, where the second wave retraces more than 100% of the first wave. Additionally, the third wave should extend beyond the end of the first wave. This pattern often occurs in corrective waves and can be seen as a temporary pause in the overall trend. Keep an eye out for these characteristics and use them as a guide in your analysis.
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• Dec 27, 2021 · 3 years ago
  Identifying an expanded flat pattern in cryptocurrency trading can be challenging, but there are a few signals to watch for. Look for a sharp decline followed by a corrective rally that retraces more than 100% of the initial decline. The subsequent decline should then extend beyond the low of the initial decline. This pattern often indicates a temporary pause in the trend and can be a good opportunity for traders to enter or exit positions. Remember to always consider other technical indicators and market conditions when analyzing patterns.
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• Dec 27, 2021 · 3 years ago
  Identifying an expanded flat pattern in cryptocurrency trading is an important skill for traders. One way to do this is by using the Elliott Wave theory. According to this theory, an expanded flat pattern consists of a three-wave structure, with the second wave retracing more than 100% of the first wave. The third wave should then extend beyond the end of the first wave. This pattern can provide valuable insights into market trends and potential reversals. If you're interested in learning more about Elliott Wave theory, you can check out resources like BYDFi's educational materials.
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