Elliott Wave Cheat Sheets
This is a list of other helpful sources on Elliott Wave Theory
Structure (3-3-3-3-3) OR
In real-time charting, you should NEVER label a developing wave as a leading diagonal. These are so rare you should not even consider them
as an option. You should label leading diagonals as such only on past charts when there is no other wave count that fits.
- A beginning wave pattern. May only form as Wave
1 or as Wave A of a Zigzag. .
- Elliott Wave International
notes that the vast majority of
leading diagonals divide into 3
wave substructures (3-3-3-3-3),
but also note that a few have
been found with 5-3-5-3-5
structure, yet Wave 4 will still
enter the price territory of
Wave 1 - which is what makes it
- It would also be safe to say
that, since W4 can overlap W1 in
a leading diagonal, there may be
situations where a 1-2 1-2 count
isn't working out because it was
a mislabeled leading diagonal
rather than a 1-2 1-2. Best to keep this
in mind in when exploring alternate
wave counts when a 1-2, 1-2
count isn't working out.
- As with ending diagonals,
this wave develops more as a
diagonal wave than a typical
fast moving impulse wave.
- It is a Motive Wave, therefore shares
some of the same characteristics as an impulse wave. W2 may never
cross the origin of W1 and W3 may never be the shortest wave.
However, unlike impulse waves, W4 will
(almost) always cross into the W1 territory.
This "almost" leaves open the
possibility that Wave 1 could be
a 3-3-3-3-3 structure without
wave 4 overlapping wave one.
- Frequently you will see a
throw-over the trend line in
wave 5. You can
almost expect to see it.
Very normal attempt to shake out
weak hands before moving in the
- Diagonals are usually followed by a quick thrust in the direction of the next
wave that completely eclipses the diagonal wave. That normally completes takes only 1/2 to
1/3 of the time it took for the pattern to form.
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