The Eleven Elliott Wave Patterns

The Eleven Elliott Wave Patterns:

Motive Waves (moving with the larger trend): Impulsive or Motive waves always move with the larger trend, consist of five waves, and are labelled 1-2-3-4-5.

Impulse: (IM)

An Impulse is a five-wave pattern labelled 1-2-3-4-5 moving in the direction of the larger trend.

1)Wave 1 must itself be an Impulse or a Leading Diagonal pattern. 2)Wave 2 can be any corrective pattern except a Triangle. 3)No part of wave 2 can retrace more than 100% of wave 1. 4)Wave 3 must be an Impulse. 5)Wave 3 must be longer than wave 2 by price. 6)Wave 4 can be any corrective pattern. 7)Waves 2 and 4 cannot overlap. 8)Wave 5 must be an Impulse or an Ending Diagonal. 9)Wave 5 must be >= 70% of wave 4 by price. 10)Wave 3 must never be the shortest by price when compared to waves 1 and 5.