We crushed $SPX Friday for 60 points using the WXY Model
We crushed $.SPX(.SPX)$ Friday for 60 points using the WXY Model.
After years of deep study on Elliott Wave, the WXY model stands out as my favorite.
It’s an extremely high-probability pattern that appears frequently in the market—and works even when the wave count isn't clear.
Here's how to take advantage of it:
Image
WXYs (double zigzags) are three ABC patterns, with two legs against the trend (W and Y) and one in favor (X).
Structured as (3-3-3) or (ABC-X-ABC), this high-probability pattern signals the continuation of the larger trend.
Each leg is either of equal length (90-100%) or follows Fibonacci ratios/extensions (50%, 61.8%, 127.2%), with Wave Y extending at least one tick below Wave W (no truncation)
Image
Entry Models:
1. Enter following the break over the 50% retracement of the X-Wave.
Once that occurs, place stop at Y-Wave low.
2. Enter following the cross of the 0-X trendline.
Once that occurs, place stop at Y-Wave termination.
Use confluence such as FVGs and/or common 3-Wave retracements.
Image
Image
Targets:
The minimum target is Point 0, the origin of the WXY correction.
To estimate probable targets, you can use Fibonacci extensions by measuring from the dominant trend's high to low, ending at Wave Y's termination point (circles).
For example: 50%, 61.8%, 100%, and 161.8%.
Image
Summary:
The WXY model is an essential tool for identifying high-probability setups in any market. It helps you not only find great trade opportunities but also avoid premature entries.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
