Elliott Wave Cheat Sheet Mento Pdf Now

Wave 2 can never retrace more than 100% of Wave 1. The bottom of Wave 2 must stay above the start of Wave 1.

“The market is a fractal. The same patterns repeat in minutes, days, and decades. Patience is the only edge.”

One of the motive waves (usually Wave 3) will stretch out and look much larger than the other two. Elliott Wave Cheat Sheet Mento Pdf

In a bullish impulse, the waves break down as follows:

He sat hunched over his desk, the glow of three screens illuminating his tired face. He was a swing trader, currently underwater on a position in the tech sector. The market had turned vicious, and his emotions were fraying. He felt the familiar tug of panic. Sell now, his gut screamed. Cut the losses. Wave 2 can never retrace more than 100% of Wave 1

He would wait. He would let the pattern complete. And when the next Wave 1 emerged from the ashes, he would be ready.

: Typically retraces 50%, 61.8%, or 85% of Wave A (In an expanded flat, it can reach 123.6% or 138.2% ). Extension Targets (How Far Waves Travel) The same patterns repeat in minutes, days, and decades

A neutral consolidation pattern composed of five waves labeled A-B-C-D-E, each subdividing into 3 waves. Triangles are always the final wave of a larger correction. Triangles can be:

A is a motive pattern where both waves 1, 3, and 5, as well as waves 2 and 4, can be corrective. A key characteristic is overlapping within the pattern. An Ending Diagonal is a wedge-shaped pattern that typically appears in the fifth wave position of an impulse, signifying exhaustion of the trend. In an Expanding Diagonal , the channels get wider, while in a Contracting Diagonal , they get narrower.

Typically retraces 50% to 85% of Wave A in a zigzag. Typical Extension Targets Wave 3: Frequently reaches the 161.8% extension of Wave 1.