Thread by @SatoshiiHeavy

Tip for counting EW
The key is time in corrections, if your larger degree correction is taking less time than your smaller degree correction then you are mislabeling the count.

Novice EW traders do this because they lack understanding of corrective phases, which takes (cont..)

Much more time and understanding to be able to fully comprehend.
Most EW traders only care about impulses thus put less attention to detail with corrective phases and therefore mislabeling counts is more often than not.

The key to EW isn't Impulses it's corrections. 😇

It's simple psychology too

Just because you know what an impulse is doesn't mean you'll be able to trade it.
Why?

Because you don't know how to count corrections properly to determine the most logical end to the corrective phase which is also the beginning of an impulse.

So more often than not these traders who put more focus/weight to impulses will not be able to get an appropriate or solid RR entry & will enter late after their said Impulse is under way.

Tragic .

Master corrections and you gain an edge that 95% of Elliottitions don't have.

Entering at the bottom or end of a proposed correction is much better in terms of RR than entering in the middle of an impulse

What if you're wrong ? And that impulse is an X wave? Now you're more at risk for a bad exit than if you entered at the end of a proposed correction

#Elliottwave

#Elliottwave