AJAYSHARMA

Elliott Wave - Wave extension rule

NSE:VEDL   VEDANTA LTD
This rules applies only for those waves where 3rd wave is extended . I will talk abt 1st and 5th wave extension and LD's with angles with examples in future . Now when ever u see a 5 wave structure draw a line joining wave 2 and wave 4 . If the impulse has to end then the 2-4 line will be broken in lesser or same time than it took to form wave 5 . And it should reach the minimum retracement of previous wave 4 of one lesser degree in the same or lesser time than it took for wave 5 to form . Regards
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.