Elliott Wave Cheat Sheets
This is a list of other helpful sources on Elliott Wave Theory
- Wave A is either a 3 wave
structure or a 5 wave structure.
Whichever it turns out to be will
determine the course of the
remainder of the corrective waves B
- A 3 wave structure denotes
the correction will be a Flat
or Expanded Flat. It could
also be wwave A of a triangle,
but that is only applicable to
wave 4 corrections.
- A 5 wave structure
denotes a Zigzag correction or
something more complex.
- Remember the principle of
Alternation. If you are in a
wave 4 correction, look to the
alternate of the correction type
in wave 2. (wave 4 typically a
flat if wave 2 was a zigzag.)
- A sharp wave A is
with a zigzag. A
shallow sloped WA, a
- Pay attention the the previous
impulse waves. If the W5 was
well extended, then there is a
probability that the ABC correction
in its entirety is going to be deeper
than expected, or a double
correction is expected.
- Wave A may be a leading
diagonal, so 3 wave internals
and wave overlap can occur.
- Trading Wave A can be challenging because you aren't ever quite sure when it has
started and when it has ended.
At the beginning of WA, you are
normally still open to the
possibility that the prior W5
impulse will push to a new extreme
in an extended W5. At the end
of three waves in WA you may be
expecting 2 more waves, but the wave
ends in 3 and reverses to create a
flat. That all having been
mentioned, if you are trading the
total correction you can certainly
get it on at the failed new extereme
of WA.(2 or B) and ride it out.
- IF the 3rd wave of A ends in the .382 retracement of wave 5, there is a good chance
that you are dealing with a Flat correction. Similarly, if Wave AC is extended, it is far more likely
to be a zigzag forming.
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