Nifty Elliott Wave Analysis

[Bimbo]

Since wave 2 is sharp simple correction ,Wave 4 is complex correction or a Triangle as it unfolds.Also percentage retracement less than wave 2.This is sufficient for alternation

 

[ranjan]

another possibility instead of red 1 you mark green1 in bracket & instead of red 3 u put green 3 in bracket, violet 1 repaced by A ,violet 2 replaced by B making it extended flat with C a probable ending diagonal

 

[rajatheroyal]

Wave 2 is forming maybe a abc Zigzag or 1,2,3 of "A" leg of a zigzag.Going towards projected targets.Structure will get clear in a day or two

Your wave counting is wrong brother.
Here the 5 th wave is bigger than the 3 rd which is not supposed to be.
Usually 5 th wave is equal as first wave or 1.62% of 1 st wave or 2.62% of 1st.

 

[Bimbo]

Read the Rules again,It is never mentioned that wave 5 can't be bigger than wave 3.the rule is wave 3 cant be the shortest

 

[rajatheroyal]

Read the Rules again,It is never mentioned that wave 5 can't be bigger than wave 3.the rule is wave 3 cant be the shortest

There are two types of consensus i think any expert should clarify
BTW see this document.

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[rajatheroyal]

http://www.traderji.com/technical-analysis/1446-rules-guidelines-elliott-wave.html
Collected Rules and Guide lines for proper elliott wave interpretation

Its a biggie .Little difficult to read but worthwile


Impulse Rules:

An Impulse is a five Wave pattern labeled 1-2-3-4-5 moving in the direction of the larger trend. It is the most common Elliott Wave pattern.
Wave 1 must be an Impulse or a Leading Diagonal.
Wave 2 may be any corrective pattern except a Triangle.
No part of Wave 2 can more than retrace Wave 1.
Wave 2 must retrace Wave 1 by a minimum of 20%.
The maximum time for Wave 2 is nine times Wave 1.
Wave 3 must be an Impulse.
Wave 3 must be longer than Wave 2 in gross distance by price.
The gross price movement of Wave 2 must be greater than either Wave 2 of Wave 1 or Wave 4 of Wave 1. The gross price movement of Wave 2 must also be greater than either Wave 2 of Wave 3 or Wave 4 of Wave 3. Wave 2 must also be greater than 61.8% of the gross movement of each of the above 4 sub-Waves.
Wave 3 and Wave 1 cannot both have 5th Wave failures. (A Failure is an impulsive Wave where Wave 5 is shorter than Wave 4 by price.)
Wave 3 cannot be less than 1/3 of Wave 1 by price.
Wave 3 cannot be more than 7 times Wave 1 by price.
Although there is no minimum time constraint for Wave 3, its absolute maximum time limit is 7 times Wave 1.
Wave 4 can be any corrective pattern.
Waves 1, 2 and 4 cannot overlap except by 15% of Wave 2 with leveraged securities, and then only for a maximum of less than two days.
The gross price movement of Wave 4 must be greater than either the gross movement of Wave 2 of 3 or Wave 4 of 3. The gross price movement of Wave 4 must also be greater than either the gross movement of Wave 2 of 5 or Wave 4 of 5. The gross movement by price of Wave 4 must also be greater than 61.8% of the gross movement of each of these four subwaves.
The gross movement by price of Wave 4 must be greater than 1/3 of the gross movement of Wave 2 by both price and percentage movement.
The gross movement by price for Wave 4 must be less than three times the gross movement of Wave 2 by both price and percentage movement.
Wave 3 and Wave 4 cannot both be failures. (A Failure is an impulsive Wave where Wave 5 is shorter than Wave 4 by price.)
Although Wave 4 has no minimum time constraint, the maximum time for Wave 4 is twice the time taken by Wave 3.
Wave 5 must be an Impulse or an Ending Diagonal. However, if Wave 5 is longer than Wave 3 by price, then Wave 5 must be an Impulse.
Wave 5 must move by price more than 70% of Wave 4. (This is not gross movement. Only consider the end points of both Waves.)
Wave 3 must never be shorter than both Wave 1 and 5, by either price distance or percentage price movement.
If Wave 5 is truncated, or contains an Impulse that is truncated, then neither Wave 3 nor Wave 4 can contain a subwave that is truncated. (A truncated pattern is where Wave 5 is shorter than Wave 4. This is also known as a failure.)
The maximum movement of Wave 5 is six times Wave 3 in both price and time.
Wave 5 has no minimum time constraint.


see even experts give contradicting rules

 

[Bimbo]

Yes ,that is the same as I said,no two types of consensus.Read rule No 10.Wave 3 cannot be the shortest.Where is it given that Wave 5 cant be bigger than wave 3.And what difference you find in the count given in my chart different from rules posted by you.

Posted by you "see even experts give contradicting rules ",Yes I agree,but From the rules posted by you where you are finding deviations in my chart ?

 

[rajatheroyal]

Yes ,that is the same as I said,no two types of consensus.Read rule No 10.Wave 3 cannot be the shortest.Where is it given that Wave 5 cant be bigger than wave 3.And what difference you find in the count given in my chart different from rules posted by you.

Posted by you "see even experts give contradicting rules ",Yes I agree,but From the rules posted by you where you are finding deviations in my chart ?

This is the continuation of rules from the same documents see yourself.

I already told u there is some difference of opinion so let any expert in TJ clarify.

 

[Amikid]

I feel here people like Raja who do not know anything try to poke their dirty nose in everything.If someone makes an honest attempt at something,there are some people here who want to scuttle the topics.

Raja himself doesnot know the rules & is saying the wave Markings are wrong.When the guy who posted the chart asked where it is wrong,Raja is not able to answer & instead giving the rules book.Raja should have shown where & what was wrong when asked to do if he calls something is not correct.This way everyone can learn something.

Telling the other person is wrong,without going into the subject is easy.

 

[ranjan]

for impulse waves the rule is & not a guideline that wave 3 cannot be the shortest,golden rule without any controversy