For the ElliottWave-Cycle, kind of behavior appears in two different forms on a market chart: 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...
Elliott Wave Cycle is formed up of a total of 8 waves (5+3 waves). Waves 1 to 5 are counted in the Impulsive phase. Waves A to C are counted in the Corrective Phase. 3 Golden Rules of Elliott Wave: 1. Wave 2 cannot overlap wave 1. 2. Wave 4 cannot touch the territory of wave 1. 3. Wave 3 can never be the shortest.
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