3309 Drysdale Ct
Edwardsville, IL 62025
The 3 RULESof Elliott Wave are: (for 5 wave impulse waves)
Wave 2 never retraces more than 100% of wave 1
Wave 3 is never the shortest wave
Wave 4 never enters the price territory of wave 1.
SO... it is possible since wave 4 is now higher than the low of wave 1 that we are in fact in a new upturn.
The 3 GUIDELINESare: (for 5 wave impulse waves)
The three-wave correction following an impulse usually terminates within the price territory of the previous fourth wave of one lesser degree
If wave 2 is sharp and steep, wave 4 is usually a sideways correction and vice a versa (as was evident in our most recent wave 4 being sideways)
The wave most likely to extend is wave 3: the next most likely is wave 5.
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Title: Elliott Wave Rules The 3
Posted by finam on 24th of Nov 2008 at 11:51 am
The 3 RULESof Elliott Wave are: (for 5 wave impulse waves)
Wave 2 never retraces more than 100% of wave 1
Wave 3 is never the shortest wave
Wave 4 never enters the price territory of wave 1.
SO... it is possible since wave 4 is now higher than the low of wave 1 that we are in fact in a new upturn.
The 3 GUIDELINESare: (for 5 wave impulse waves)
The three-wave correction following an impulse usually terminates within the price territory of the previous fourth wave of one lesser degree
If wave 2 is sharp and steep, wave 4 is usually a sideways correction and vice a versa (as was evident in our most recent wave 4 being sideways)
The wave most likely to extend is wave 3: the next most likely is wave 5.