forex trading course (part 4)

Take it easy, young padawan. The great thing about Elliott Wave is you don’t have to be above the legal

drinking age to trade it! You don’t have to get a fake ID or memorize all 21 types of corrective ABC patterns because they are just made up of three very simple easy-to-understand formations.

Let’s take a look at these three formations. The examples below apply to uptrends, but you can just invert them if you’re dealing with a downtrend.

Zig-zag formations are very steep moves in price that goes against the predominant trend.

Wave B is typically shortest in length compared to Waves A and C. These zig-zag patterns can happen twice or even thrice in a correction

(2 to 3 zig-zag patterns linked together). Like with all waves, each of the waves in zig-zag patterns could be broken up into 5-wave patterns.

yes brother ap ne blilkul theak bataya hay ke jab market main oper ki taraf change ata hay ya market oper jati hay to usay bullish patteren kehtay hain and jab down ati hay to usay bearish patteran kehtay hain.

Flat formations are simple sideways corrective waves. In flats, the lengths of the waves are GENERALLY equal in length,

with wave B reversing wave A’s move and wave C undoing wave B’s move. We say generally because wave B can sometimes go beyond the beginning of wave A.

Triangle formations are corrective patterns that are bound by either converging or diverging trend lines.

. Triangles are made up of 5-waves that move against the trend in a sideways fashion. These triangles can be symmetrical, descending, ascending, or expanding.

Do you see how Waves 1, 3, and 5 are made up of a smaller 5-wave impulse pattern while Waves 2 and 4 are made up of smaller 3-wave corrective pattern?

Always remember that each wave is comprised of smaller wave patterns. This pattern repeats itself…

A Grand Supercycle is made up of Supercycle waves which is made up of Cycle waves which is made up Primary waves,

which is made up of Intermediate waves which is made up of Minor waves which is made up of Minute waves which is made up of Minuette