Day Trading Stocks & Futures

sridhga

Well-Known Member
sometimes there r truncated wave 5s too, means they dont go above wave 3.... wave 5s target = wave 1 x 1 or wave 1 x 1.61 or wave 1 x 2.61 or wave 1-3 x 0.61 or wave 1-3 x 1 .... i always use trendlines and channels to know when a wave has finished n a new wave is forming :)
all the rules r perfectly explained on elliottwave.com :)

If wave 5 does not go beyond wave 3, it gets mixed up into ABC that follows.
 

checkmate7

Well-Known Member
elliott waves r always accurate, but different people count waves differently, abc will fail if we see a new impulse wave from today's low at 23650, i think the wave 5 forming from today's low will be a diagonal :)
If you have 2year data of stock then will the count be same as if you have 5year data?
Also from where do you start counting waves is there any particular criteria from where counting starts or it depends upon everyone's view point?
 
if Elliot wave pattern fails AC pattern might occur..
My query is what will happen if ABC pattern also fails
Then we have a different wave count than what we assumed....so we have to go on next most probable count....there is always 1 or more alternate counts open at any given time.....
 

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