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Buy & Sell Direction Indicated by Elliot Wave part2

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  1. Elliott Wave is consisted with 5 Motive (impulsive) waves and 3 Corrective waves.
  2. Wave 2 never retraces more than 100% of Wave 1.
  3. Wave 3 is never the shortest wave, while it is travels beyond the end of Wave 1.
    Also, its advancement is always bigger than Wave 1 or Wave 5.
  4. The starting point of Wave 4 is always higher than the end of Wave 1.
  5. Wave 2, 4 and B are always Corrective waves.
  6. Wave 5 is likely to go beyond the end point of Wave 3, if not, it is called “Truncation”.
  7. Wave 5 and Wave C can become an “Ending Diagonal Pattern”.
  8. Motive wave 1, 2, 3, 4 and 5 always progresses in the direction of the trend of larger degree
  9. Corrective wave A, B and C always progresses in the direction against the higher degree trend

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