Post
Topic
Board Speculation
Re: Critical Levels - EW analysis
by
RyNinDaCleM
on 30/03/2015, 23:57:28 UTC
There are only 3 hard rules, all else are guidelines, it is up to one who is counting, what guidelines one wants to follow.

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.

Rule 2: Wave 3 can never be the shortest of the three impulse waves.

Rule 3: Wave 4 can never overlap Wave 1.



http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory#three_rules

Corrections don't have any hard rules, just guidelines.

Here is a good site for guidelines:

http://www.tradingfives.com/articles/elliott-wave-guide.htm

the page you linked to and this thread describes how to recognize Elliot Waves. but how do you use them to predict moves?
i'm probably missing something

Yes, there is a lot more to it than just that link and a chart that has already played out. The relationships and ratios between impulses and correctives help to guide you in what can come next. Do a lot of reading and counting (and I mean, count EVERYTHING) when you think you got it, count again. Ask questions here. Post counts for evaluation. Practice. Practice and lots of it is the only way to really learn EW.