Corrective Waves Markets move against the trend of one greater degree only with a seeming struggle. Resistance from the larger trend appears to prevent a correction from developing a full motive structure...
In a three wave move, the alternating waves will be wave A and wave C (or if you label with numbers, wave 1 and wave 3...
Leading Diagonals It has recently come to light that a diagonal occasionally appears in the wave 1 position of impulses and in the wave A position of zigzags...
Diagonal A diagonal is a motive pattern yet not an impulse, as it has two corrective characteristics. As with an impulse, no reactionary subwave fully retraces the preceding actionary subwave, and the third subwave is never the shortest...
Truncation Elliott used the word "failure" to describe a situation in which the fifth wave does not move beyond the end of the third. We prefer the less connotative term, "truncation," or "truncated fifth...
Extension Most impulses contain what Elliott called an extension. Extensions are elongated impulses with exaggerated subdivisions. The vast majority of impulse waves do contain an extension in one and only one of their three actionary subwaves...
Motive Waves Motive waves subdivide into five waves with certain characteristics and always move in the same direction as the trend of one larger degree. They are straightforward and relatively easy to recognize and interpret...
Degrees When numbering and lettering waves, the scheme shown below is recommended to differentiate the degrees of waves in the stock market's progression: The most desirable form for a scientist is usually something like 11, 12, 13, 14, 15, etc...
Essential Design The market's compound construction is such that two waves of a particular degree subdivide into eight waves of the next lower degree, and those eight waves subdivide in exactly the same manner into thirty-four waves of the next lower degree...
Basic Tenets Under the Wave Principle, every market decision is both produced by meaningful information and produces meaningful information...
Introduction: The Broad Concept In The Elliott Wave Principle — A Critical Appraisal, Hamilton Bolton made this opening statement: As we have advanced through some of the most unpredictable economic climate imaginable, covering depression, major war, and postwar reconstruction and boom, I have no...
EURUSD chart depict almost the same picture. We are currently tracking minor wave II pullback, and we expect further continuation to the downside...
Aussie found renewed buying interest at 0.9354 last week and has finally resumed recent upmove as price broke above resistance at 0.9461, bullishness remains for further gain to previous resistance at 0.9543, above there would encourage for headway to 0...
EUR/USD: Wave (B) ended at 1.5145 and wave I of (C) ended at 1.1876 As the single currency has continued to edge higher after holding above support at 1.3564, retaining our view that further consolidation above this level would be seen and another corrective bounce to 1.3677 and possibly 1...
