🎥 Watch the full video below, or scroll down for the summary, scenarios, and insights.
In this post, we continue the exploration of ChatGPT’s capabilities in technical analysis.
This time, I asked ChatGPT to apply Elliott Wave theory to a daily Renko chart of American Express (AXP)—and the results were fascinating.
🧠 Spoiler: It’s not about prediction, but interpretation.
🔍 What This Video Covers
- How I used Barchart.com to generate a daily Renko chart with ATR(14) brick size
- The exact prompt I gave ChatGPT:
➡️ Please analyze AXP Renko. Brick is $6.45 (ATR 14). Identify chart patterns, key levels, likely scenarios, and projections.
- Two Elliott Wave interpretations returned by ChatGPT:
- ✅ Primary Impulse (1–2–3–4–5) — bullish outlook
- ⚠️ Alternate A–B–C Flat — corrective structure
📈 Summary Table
| Scenario | Bias | Trigger | Target |
|---|---|---|---|
| ✅ Primary (1–2–3–4–5) | Bullish | Break above $330 | $345 (if Wave ⑤ = 0.618 × ③) |
| ⚠️ Alternate (A–B–C Flat) | Bearish | Drop below $295 | $250–230 (Wave C projection) |
🧠 A Note on Interpretation
Elliott Wave theory isn’t about prediction—
it’s about interpreting what the market might be telling you.
This framework helps you prepare for multiple outcomes, not forecast them.
ChatGPT did exactly that by mapping plausible structures based on the Renko trend.
🔗 Related Content
▶️ Previous Video: ChatGPT Analyzes Renko Charts (Buy/Sell Scenarios)