Stocata.Org 022 Elliott Correction Waves Technical Analysis

[SylvainVervoort]

C is preferably an impulse wave. However if you can not draw a valid impulse wave, as is the case here, you most probably have a correction wave extension. Perhaps looking at smaller time periods, you will then find an impulse wave in the lower time period of wave A and C. On the other hand do not forget this is not an absolute science and do not use it as a stand alone signal to trade!

[SylvainVervoort]

I agree. Certainly when you start learning about Elliott waves, it is a lot and it is not easy. But you need to learn the basic Elliott patterns if you want to apply Elliot wave counts. In one of the following videos I will introduce an indicator that will help you counting waves. However, you still need the basic knowledge about all possible patterns.