Pattern Confirmation : Elliott wave Theory (Elliott Baba)Pattern Confirmation : Elliott wave Theory (Elliott Baba)
1 - Break 2-4 Trendline :
To identify whether wave 5 has been completed or not . One should have
draw a 2-4 trend line and check below condition .
1- Draw a 2-4 trendline
2- Calculate the total time of formation of wave 5
3- Now if wave A will break 2-4 trendline in less time then formation of wave 5 then it will be confirmation of completion of wave 5
4- If it takes more time to break 2-4 trendline by wave A in comparison with wave 5 then there must be 5th wave is in formation or still 4rth wave is running .
