Alpha Crypto Channel is a Telegram channel that had been working since June 01, 2019. Most of their posts are tagged #ewforecast — Elliott Wave Service. This is a theory thanks to which we can make a future’s cognitive analysis on the current data basis.
The project team offers users a useful theory so that they can understand how their forecasts work. Analysts provide some daily predictions regarding the cryptocurrency rate to test the strategy’s performance. Users can find more coins for investment in a VIP private channel. It is important for diversification of the cryptocurrency portfolio because even the best specialist in this theory made mistakes.
4 Features Provided by the Channel Administration
- Free bonuses from a private channel — analysis of not very popular altcoins with 30-60 Timeframe.
- Daily analytics of popular cryptocurrencies.
- Tips for choosing a strategy in the current market conditions.
- Alerts about trend changes.
How to Use Analytics Reports
Analytical posts look as follows:
For me, as a beginner in trading, this information is useless. More professional traders often have their own analytical sites and write their own analytical forecasts. Alpha Crypto Channel is necessary for beginners who know how to make analytical forecasts, but for some reason don’t do it on their own.
How to Understand The Provided Screenshots
User need to learn the basics of the Elliot wave theory to understand the author of analytical screenshots.
Wave Levels — Gold Core For Trading
The classical theory gives us 8 wave levels, but it is difficult for the user to define all of then. Traders often use the Minor wave level — 1 2 3 4 5 A B C.
This level is divided into pulsed and correctional waves.
The picture shows a diagram in which waves 1, 3, 5 are pulsed, which form a trend. Waves 2, 4 are corrective as they are facing in the opposite direction. Such a sequence of waves forms the next impulse wave of the next order.
This picture shows a correctional pattern of A B C waves. Since the trend is downward in this pattern, the waves A, C are pulsed, and B is corrective.
From the combination of two sequences forming an eight-wave cycle, after which a new cycle starts.
A trader enters the market after the formation of a full eight-wave pattern, as well as the completion of the first 1 2 3 4 5 cycle of the new structure and the start of the A B C cycle.
Attention! The Eliot sequence is a fractal, each impulse wave consists of a 5 wave sequence, and each correctional wave consists of a 3 wave sequence.
Wave Definition Rules in Elliot Classical Theory
- 2nd wave doesn’t need to cross the 1st wave level. If this happens, the analyst must to redefined the sequence using this rule;
- 3rd wave must never be the shortest of all the sequences. It must be the wave with a strongest impulse. This wave must also exceed the 1st wave level. In this case, 1st and 5th waves should be approximately equal in size;
- 1st and 4th waves must not cross one another. If this happens, the analyst also must to redefined the sequence using this rule. The A-B-C correction ending the cycle usually ends just in the 4th wave area.
Interpretation of the Analytical Screenshot
According to the information in this screenshot, a trader needs to open an OmiseGo trade at 0.8021 and set a take profit of 0.84. The trader will profit within 60 minutes.
To sum up everything:
It is very difficult to define the Elliott wave on the chart and make the right trading decision. Alpha Crypto Channel regularly publish alerts about the finding of such waves. A trader only needs to download his MetaTrader terminal and wait for signals from the channel.
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