Wiz of Wallstreet

Start with

How do we approach the chart of any stock or commodity?

Traders should start reviewing the chart from the higher time frame like weekly or daily. From there it should be determined if the chart looks familiar, meaning, the trader should know which Elliott wave the stock is currently in. In our imagination the picture of the larger chart will start forming and we can start zooming into smaller charts like 30 min or 15 min. Here at this zoomed in level we should try to read Elliott waves again and determine which wave we are currently in. The last zoom in is a 5 and 1 minute chart where we jump in where true action happens fast in front of our eyes. It will take a lot of screen time to get used to the one minute action. During less volume times like for example premarket or aftermarket, the waves are flatter and stretched horizontally, where on the other hand, during high volume like during important news or market opening or closing, the waves can be even creating inside a single 1 minute candle.

Trend Lines

Critical Levels

Assuming that traders got familiarized with basic Elliott Wave patterns and rules, we should start looking for the safest entry point on the entire wave structure. In my opinion the safest point is the entry, when wave 1 and 2 is already formed and completed. Now we should just wait for the confirmation of that assumption. In other words we will be entering wave 3 and riding it higher. Entry point should be the moment when we will make a new high of wave 1 and exit point should be the Fibonacci level of 161.8% of wave 1. (we will explain this move in detail during our courses).

How To Draw Trendlines

Purpose: The purpose of drawing trendlines is to predict the price estimate at some point in near future. Proper knowledge of drawing trendlines is a good technique of trend reversals or breakouts. Channeling a trend can be money making technique alone but with Elliott waves combination can be powerful tool to make money daytrading.

Fox 1 Strategy

Fox 1 Strategy was discovered by Paul K on January 4th 2023 by simple observation of market behavior. It plays out on /ES market few times a week and investor can use it for a nice profit every time the market set it up. It is available for purchase in our Course tab under the name Fox 1 strategy. By purchasing this strategy user will be explained how to use it with pictures and text description. User should feel free to ask questions if any will arise.