Riding Elliott’s Waves
Let’s say you wanted to begin your wave count. You see that
price seems to have bottomed out and has began a new move upwards. Using your
knowledge of Elliott Wave, you label this move up as Wave 1 and the retracement
as Wave
In order to find a good entry point, you head back to the School of Pipsology to find out which of the three cardinal rules and guidelines you could apply. Here’s what you found out:
In order to find a good entry point, you head back to the School of Pipsology to find out which of the three cardinal rules and guidelines you could apply. Here’s what you found out:
-Rule Number 2: Wave 2 can NEVER go beyond the start of Wave
1
-Waves 2 and 4 frequently bounce off Fibonacci retracement
levels
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