Thread by @divingdeep6

#Elliottwave #Theory

The Elliott Wave Theory -
Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move

@nishkumar1977

@elliotwaveindia

#Elliottwave #Theory

Wave 1,3 & 5 are Trending waves. Also known as Motive Waves.

Wave 2 & 4 are counter trend waves, also known as corrective waves.

Corrective waves are necessary for a trend to continue..

@nishkumar1977

@stockgold9

#Elliottwave #Theory

A complete Motive wave with 5 subwaves will have fwg structure 2 degree lower

5+3+5+3+5 = 21

A complete corrective wave with Three Subwaves will have following structure 2 degree lower

5+3+5=13

Refer Chart below

@krishchess
@Priceactionly

#ElliottWave #Theory
One Wave out of Three is generally Extended
A wave is extended when one of it's sub Wave gets extended.

Example-
With a 3rd wave extension, subwave count will become-
5+3+(5+3+5+3+5)+3+5=37

This is guideline not rule

@Atulsingh_Asan
@ntdmagic

#ElliottWave #Theory
One Wave out of Three is generally Extended
A wave is extended when one of it's sub Wave gets extended.

Example-
With a 3rd wave extension, subwave count will become-
5+3+(5+3+5+3+5)+3+5=37

This is guideline not rule

@Atulsingh_Asan
@ntdmagic