Elliot Wave

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There are two kind of motive waves

Impulse – impulse is 1,3,5


Diagonal- it is motive pattern but not an impulse.
diagonal appears in wave 5 or wave C(a small perentage, in double or
triple threes they appear as final C wave), diagonal have 3-3-3-3-3
structure and wave three can be smallest in this. Here wave 4 can reach
to wave 1 price territory. On rare occasions it may end in truncations.

In all other cases they appear at the termination point of larger


patterns indicating exhaustion of larger pattern.
Corrective waves have two types Sharp corrections and Sideways
correction.

Specific corrective patterns are of three types.


zigzag(5-3-5)-single,double,triple
Flat(3-3-5)-regular,expanded,running.
Triangle(3-3-3-3-3)-contracting,barrier,expanding,running

A combination of above forms comes in two types


Double three
Triple three.
Zigzag(5-3-5)
it is a three wave declining pattern labeled as A-B-C.
Subwave sequence is 5-3-5.
Top of Wave B is smaller than of A.

Occassionally zigzags comes twice or three times particularly


when the first zigzag will short of normal target.

Double or triple three corrections can be labelled as A-B-C-X-A-


B-C, 7 wave structure for double three. Triple three will add for
successive corrective waves.

Double Three correction


Flat(3-3-5)
it is a three wave declining pattern labeled as A-B-C.
Subwave sequence is 3-3-5.
Top of Wave B is near to end of A.
Wave C ends slightly beyond of Wave A.

A flat correction usually retraces less of a preceding impulse


wave than of a zigzag.
It occurs when larger trend is strong and virtually always
precedes or follows extension.
The more powerful underlying trend the shorter the flat will
be.
Within an impulse 4th wave supports Flat structure but second
wave rarely does.

Regular Flat
Expanded Flat.

Wave C extends than of Wave A

Running Flat
Wave C runs Shorter than of wave A
Triangle(3-3-3-3-3) it is ABCDE pattern contains five
overlaping waves which subdivides into 3-3-3-3-3.

Triangle is delineated by connecting the termination


Point of wave A and C ,wave B and D

Wave E can undershoot or overshoot the A-C line .


It happens more often than not.

Three types
Contracting
Barrier
Expanding

Most of subwaves in a triangle are zigzags but sometimes some


of the waves usually wave C are more complex than others
And can take the shape of multiple zigzags.

In rare cases one of the subwaves usually waves E is itself a


Triangle which make it 9 wave triangle.
Running Triangle

It is extremely for Wave B of a contracting triangle to exceed


the start of Wave A. it is termed as running triangle.

Note: A triangle occurs in a position prior to the final actionary


wave in the pattern of one larger degree.

e.g. wave 4 in an impulse and Wave B in A-B-C. or the final


Wave X in double or triple three combination.

Rarely it can appear in wave 2 as well.

When it comes in wave 4 , wave 5 will be swift and will go till


thrust of triangle.
Thrust is an impulse but can be an ending diagonal.

Powerful target have prolonged fifth wave they do not have


thrust.

9 Wave triangle where wave E itself is a triangle


Simple and Complex correction example
Channeling

Parallel trend channel typically marks the upper and lower


boundaries of an impulse wave.

To draw a channel when wave three ends. Connect the points


labeled 1 and 3 and then draw a parallel line touching the point
labeled 2.
Throw over

Within a channel when fifth wave reaches to the end of upper


boundary of channel if there is short of volume. Fifth wave may
be short of length and when it has high volume near the
channel upper/lower boundary it can create throw over.

Check the volume to expect throw overs.


ZigZag and Flat Fibonacci Ratios
Triangle Fibonacci Ratios

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