Structure

• Is an impulse wave with a 5 wave (5-3-5-3-5) structure
• Can never be the shortest wave
• If W3 is shorter than W1, expect W5 to be shorter than W3.
• Until it reaches 1.618 of W1, consider it to be a Wave C instead.
• Frequently extends into a 9 wave structure, with another impulse wave contained within it.

Retracment

Trading

• Do not get suckered. W2 must be a 3 wave structure, so don't prematurely start the Wave 3 count.
• Best conservative approach is to wait for W3.3 to clear W3.1, then enter.
• Aggressive approach is to enter when W3.2 pivot is marked.
• Once you are in a wave 3, do not attempt to trade it.  Corrections are frequently shallow and mal-formed.  They can look like a single corrective wave.  Time wise they seem to be about right, Just hang on and ride them out unless you are on a higher degree and can improve your position without much risk of being left behind.

Prediction

• When extended, can reach 200, 261.8, or 4.25 of W1.

Notes