JSWSTEL, Real-Time illustration of complete ElliottWave-Cycle!
For the ElliottWave-Cycle, kind of behavior appears in two different forms on a market chart:
Motive Cycle:
The impulsive waves can occur both in an uptrend and a downtrend. Impulse Elliot wave theory summary;
It takes the form of 5+3 wave = 8 Wave patterns.
It has the three waves 1, 3, 5 moving in the direction of the trend, the motive waves, and two waves 2 and 4 which move against the trend.
Waves 1, 3, 5 can further be divided into five smaller waves each while 2 and 4 into 3’s.
Corrective Wave Cycle:
The corrective wave comprises 3 waves moving in the opposite direction of the initial trend. Corrective patterns Elliot wave theory summary;
This wave pattern can never move beyond the origin of the previous impulse wave.
The letters a, b, c are used to label these waves respectively.
=================RULES======================
The 3 main Elliot wave rules trading Elliot wave.
- The impulsive move
- The corrective move.
Motive Cycle:
The impulsive waves can occur both in an uptrend and a downtrend. Impulse Elliot wave theory summary;
It takes the form of 5+3 wave = 8 Wave patterns.
It has the three waves 1, 3, 5 moving in the direction of the trend, the motive waves, and two waves 2 and 4 which move against the trend.
Waves 1, 3, 5 can further be divided into five smaller waves each while 2 and 4 into 3’s.
Corrective Wave Cycle:
The corrective wave comprises 3 waves moving in the opposite direction of the initial trend. Corrective patterns Elliot wave theory summary;
This wave pattern can never move beyond the origin of the previous impulse wave.
The letters a, b, c are used to label these waves respectively.
=================RULES======================
The 3 main Elliot wave rules trading Elliot wave.
- Wave 2 never retraces 100% of wave 1
- Elliot Wave 3 is never the shortest wave in a completed 5 wave sequence.
- Wave 4 cannot retrace into wave 1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.