Elliot Wave Chapter 1: The Overall Cycle
Rule is rule
• Impulse wave subdivide into 5 waves. In the chart, the impulse move is subdivided as (1), (2), (3), (4), (5) in minor degree
Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is 1, 2, 3, 4, and 5 in minute degree.
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1
• Wave 5 needs to end with momentum divergence
• Impulse wave subdivide into 5 waves. In the chart, the impulse move is subdivided as (1), (2), (3), (4), (5) in minor degree
Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is 1, 2, 3, 4, and 5 in minute degree.
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1
• Wave 5 needs to end with momentum divergence
Take your trading to the next level with my expert forex chart analysis.
🟢Funding Investment Management:
t.me/blue_captials
🔴Contact:
t.me/RayShen
🟢Funding Investment Management:
t.me/blue_captials
🔴Contact:
t.me/RayShen
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.