โโ ๐๐ช๐ก๐๐จ
โ A zigzag always subdivides into three waves.
โ Wave โถ always subdivides into an impulse or leading diagonal.
โ Wave โธ always subdivides into an impulse or ending diagonal.
โ Wave โท always subdivides into a zigzag, flat, triangle or combination thereof.
โ Wave โท never moves beyond the start of wave โถ.
โ Wave โท always ends within the price territory of wave โถ.
โ Wave โธ almost always ends beyond the end of wave โถ. (failure to comply with this requirement is called ยซtruncationยป)*
*guideline, but should be followed as a rule
โ ๐๐ช๐๐๐๐ก๐๐ฃ๐๐จ
โ Wave โธ should not fail to reach the end of wave โถ by more than 10% of the length of wave โถ. (Q&A EWI)
โ In a zigzag, the length of wave โธ is usually equal to that of wave โถ, although it is not uncommonly 1.618 or .618 times the length of wave โถ (rarely 2.618).
โ Wave โท typically retraces 38 to 79 percent of wave โถ.
โ If wave โท is a contracting triangle, it will typically retrace 38 to 50 percent of wave โถ.
โ If wave โท is a running contracting triangle, it will typically retrace between 10 and 40 percent of wave โถ.
โ If wave โท is a zigzag, it will typically retrace 50 to 79 percent of wave โถ.
โ In a zigzag, if wave โถ is a leading diagonal, then we would not expect to see an ending diagonal for wave โธ.
โ A line connecting the ends of waves โถ and โธ is often parallel to a line connecting the end of wave โท and the start of wave โถ. (Forecasting guideline: Wave โธ often ends upon reaching a line drawn from the end of wave โถ that is parallel to a line connecting the start of wave โถ and the end of wave โท.)
โ Waves โถ and โธ within the zigzag often appear in the form of impulses, but more often alternate according to the type of motive waves: if wave โถ is an impulse, expect wave โธ in the form of a diagonal, and vice versa. It is much less common to find waves โถ and โธ in the form of diagonals, but in this case they will alternate in form: contracting / expanding, and vice versa. (TWEWA)
โ If a similar amplitude and duration of waves โถ and โธ within a single zigzag is expected, the line passing through the top of โถ, which is parallel to the line connecting the beginning of wave โถ and the end of wave โท, often turns out to be the level of completion of wave โธ. In case of a extended wave โถ within a single zigzag, expect the wave โธ to reach the middle line of the channel, and in case of signals in favor of a extended wave โธ, it is worth resorting to the technique of doubling the channel to determine potential support or resistance. (TWEWA)
__________________________
๐References:
Elliott Wave Principal 2005
Trade Waves / Elliott Waves Analysis (TWEWA)
๐ Elliott Wave Guide & Ellott Wave Archive โฌ๏ธโฌ๏ธ
๐ ะะพะปััะต ะฐะฝะฐะปะธัะธะบะธ ะฒ Telegram: t.me/freetradelife
๐ ะะตัะพะดะธัะบะฐ (Ellliott Wave Guide): t.me/elliottwaveprincipal
๐ ะะธะฑะปะธะพัะตะบะฐ (Ellott Wave Archive): t.me/biblioewa
๐ Premium: t.me/freetradelife_premium
๐ ะะตัะพะดะธัะบะฐ (Ellliott Wave Guide): t.me/elliottwaveprincipal
๐ ะะธะฑะปะธะพัะตะบะฐ (Ellott Wave Archive): t.me/biblioewa
๐ Premium: t.me/freetradelife_premium
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
๐ ะะพะปััะต ะฐะฝะฐะปะธัะธะบะธ ะฒ Telegram: t.me/freetradelife
๐ ะะตัะพะดะธัะบะฐ (Ellliott Wave Guide): t.me/elliottwaveprincipal
๐ ะะธะฑะปะธะพัะตะบะฐ (Ellott Wave Archive): t.me/biblioewa
๐ Premium: t.me/freetradelife_premium
๐ ะะตัะพะดะธัะบะฐ (Ellliott Wave Guide): t.me/elliottwaveprincipal
๐ ะะธะฑะปะธะพัะตะบะฐ (Ellott Wave Archive): t.me/biblioewa
๐ Premium: t.me/freetradelife_premium
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.