Elliott Wave Methodical Structure This is a motive cycle of the Elliott Wave in which you can observe waves 1,3 and 5 are in direction of a trend. Wave 2 and 4 are against the direction which is called a "Corrective Wave".
Five-wave structures, numbered (1)-(5).
In the direction of the main trend of one larger degree.
Wave 2 cannot retrace at the starting point of wave 1
Wave 3 can never be the shortest.
Wave 4 never enters the price territory of wave 1.
Waves 1, 3, and 5 are motive waves.
Wave 3 is always an impulse wave.
I've also tagged some common words such as "steep jump", "sideway/consolidation", "pull back" etc. So, a reader can understand it easily. The design of the chart is very easy to understand therefore, I have posted the below charts to understand the easy structure of the Elliott Wave.
Now just check out NIFTY 50, Elliott Wave Structure, and Real Price in the below chart. Elliott Wave with Actual Price Yes, you got it now. Did you notice my entry-level at wave 2 on Aug 25, 2021? I have also published this chart on tradingivew.com. Check out the below chart.
----------------------REALIST----------------------- Aug 25, 2021, published : (Entered with my position at the end of Wave 2) Just, click on the "PLAY" button. I hope you understand now about Wave Counting.
Last updated on Sep 16, 2021 (Started 4rth corrective wave)
If you've still query about Elliott Wave, please comment.
perfect elliot waves explantion
do u use fibo with it or not
so does 3 wave always have 1-5 inside it
so do you think only 3 wave is bigger
can wave 5 be more bigger than wave three
ANSWER (1) : I use three Fibonacci tools,
- Reverse Fibonacci tool.
- Fibonacci retracement.
- Trend-based Fibonacci Extension tool.
To get a market edge, I have modified these tools as per my backtested data. These tools provide me the ending point of corrective structure, Impulsive wave power, and depth of impulse.
ANSWER (2) : Not always, but most of time you'll recognize Sub-Waves in impulsive wave-3 on the price chart. If you're not able to recognize, then you don't do "Waves Counting" forcefully.
ANSWER (3) : The impulsive 3rd wave is never smallest.
ANSWER (4) : Yes, the wave 5th can be extended in rare case. We can always forecast(predict) it in advanced if you're Expert in "Wave Counting".
mihir0099
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@Kinnari_Prajapati, can u please see in adani enterprise which wave goin on