Elliott Wave pattern (in simplest form)

Aug 9, 2021

Dear traders:

It is the result of my efforts to offer a simple presentation.


Elliott Wave pattern:

Impulse Rules:


Wave 1:

Wave 1 must be an Impulse or a Leading Diagonal.


Wave 2:

Wave 2 may be any corrective pattern except a Triangle.

Wave 2 must retrace Wave 1 by a minimum of 20%.

The maximum time for Wave 2 is nine times Wave 1.

Wave 3

Wave 3 must be an Impulse.

Wave 3 cannot be less than 1/3 of Wave 1 by price.

Wave 3 cannot be more than 7 times Wave 1 by price.

Wave 4

Wave 4 can be any corrective pattern.

Waves 1, 2, and 4 cannot overlap except by 15% of Wave 2 with leveraged securities.

Wave 5:

Wave 5 must be an Impulse or an Ending Diagonal.

Wave 5 must move by price more than 70% of Wave 4.

Reference: wavemagician.com

Nov 4, 2021

Trade closed: target reached

67 k reached

End

Oct 8, 2022

Note

Wave 2:

Wave 2 may be any corrective pattern except a Triangle.

Wave 2 must retrace Wave 1 by a minimum of 20%.

The maximum time for Wave 2 is nine times Wave 1.