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Elliott Wave - General

General

 

When an initial pump then dump happens, how do you know if its a 1-2 or A-B?

  • You must prepare by thinking the first impluse could be a 1 OR A, 2 OR B, and 3 OR C.
  • A C has a much lower target then a 3 (use fib extensions)
  • You either get a motive or corrective wave.
    • Motive takes you in the primary wave of the overall movement
    • Corrective takes you away from the primary trend.

Wave 1


The

Wavebasic 2

  • On the wave 2 retracement, you usually target the 0.5 to 0.786 due to it being a deeper pullback and people are still in denial / fear that the pull back is a fake out


Wave 3

  • Minimum target using fib extensions is hitting or passing 1.618
  • A wave 3 should breakout cleanly from a channel while a wave C usually stays within or may jump out and back in


Wave 4


Wave 5


Wave A

pattern


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Wave B

degrees

Wave C

  • Minimum target for a C wave is 0.618 with an ideal target between 1 and 1.236. If it extends past the 1.236, then it's most likely a wave 3
  • Usual extension of a C wave is 0.618 and 1.236

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extensions

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truncation

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ending diagonal

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corrections

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flats

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expanded flats

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triangles

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wxy

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