Wednesday, November 7, 2012

Anatomy of Elliott wave, patterns

Elliott wave pattern in impulsive and corrective wave

These pattern also helps to identify counting Elliott wave.

Wave 1 pattern may be




  • Extension wave pattern
  • impulse 1 patterntern
  • impulse 2 pat
  • Starting wedge/diagonal type 2


Wave 2 pattern may be

  • Sharp correction(zigzag)
  • Side way correction( Doubles, tripples, triangle) all these made with zigzag, flat,irregular pattern



Triangle
Where it can be found: Wave 4, but wave 2 some times



Wave 3 pattern

  • Extension pattern
  • Impulse 1 pattern



Wave 4 pattern

  • Side way correction usually occurs
  • Some times Sharp correction occurs.
  • Lies within parallel lines


Wave 5. patterns

  • Impulse 1
  • Impulse 2
  • Extension pattern
  • Truncated
  • Ending wedge/diagonal type 1


Truncated/5th wave failure
Where it can be found: Wave 5, C



A wave patterns
It is usually made up of five sub wave, But three sub wave may be found.That is why if we get 3 wave we have to wait till fifth,
  • Impulsive wave pattern 2
  • Diagonal type 2
  • Impulsive triangle may form
  • price 38-50% of wave 5
  • Here momentum is large, but wave c show small momentum which makes divergence.



B wave pattern

  • Flat.Zigzag, Irregular pattern,Double tops,bottoms, tripple tops, bottomx, wave pattern
  • WXY,WXYxz pattern


C wave pattern:

      It is consist of five sub wave a=1,b=2,c=3,d=4,e=5
      Wave may overlaped and ateration may occur.
  • Diagonal type 1/ Ending wedge
  • truncated wave pattern
  • Impulse 2 pattern
  • Triangle may formed( Flat MACD around zero line)
  • 60-162% of wave A
  • 160-260% of wave B
  • Never >161% of A, if so, counting is wrong
  • Rarely >260% of wave B
  • Divergence is formed MACD,RSI

Impulse1pattern,
Where It can be found:Wave 1,3,5 and A,C

Diagonal type1/Ending Diagonal/Wedge
Where It can Be found: Wave 5, C

Diagonal type 2/Starting wedge
Where It can be found: Wave 1 and A

Zigzag correction

Triangle

Extension pattern
Where It can be found: Wave 1,3,5 may alterate, usually most common in wave 3

Flat pattern

Impulse 2 pattern
Where It can be found: Wave 1, A and C
Never in wave 3


triangle pattern,
Where It can be found: wave 4(mostly), wave 2 some times, Wave b

Truncated/ 5th wave failure
Where It can be found: wave 5 and C

WXY or combination

double zigzag

Zigzag flat





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