Friday, November 16, 2012

How Much wave 5 retrace ,Elliott wave



After Completion of 5th wave  the total wave acts just like wave 1,
It will retrace upto 61.8% of total wave if trend continue.

That is after completion of wave five total wave acts like wave 1 if trend continues.
Retrace 61.8-78.2 % of total wave not more than wave 1,


So wave 5 will retrace upto wave 4 Extreme of that cycle if trend continue, If it breaks  extreme of 4th wave
trend will change on that time frame.


So wave 4 acts important Support and resistance in trending market.

No comments:

Post a Comment