itefinanceLiteFinance: Continuation of the summary

 In our example, the fifth wave is likely to extend. LiteFinance: Continuation of the summary of Elliott Wave Theory.  NeoWave by Glenn Neely |  L of Elliott Wave Theory.  NeoWave by Glenn Neely |  Litefinance The price projections of waves 2 and 4 partially overlap (blue and green areas), so the wave pattern under study is a terminal pattern. Corrections If at least one of these rules is not followed, the analyzed activity is considered corrective. Consequently, corrections are wave patterns that appear between impulses. They can be simple or complex. A simple correction consists of three or five monowaves labeled with Latin letters “a” to “e.” Complex corrections, in turn, are made up of several simple corrections that are joined together by linking waves or x waves.


There are three basic types of simple fixes: Blueprints. A plane can fit between two horizontal lines drawn between the minimum and maximum points of wave a. In a normal plane, the rest of the waves will not break these levels. A slight breakout is possible only if there are strong (longer) waves. LiteFinance: Continuation of the summary of Elliott Wave Theory.  NeoWave by Glenn Neely |  Belize Mobile Number List  LitefinanceLiteFinance: Continuation of the summary of Elliott Wave Theory.  NeoWave by Glenn Neely |  Litefinance The chart shows a plane lying between the horizontal pink lines passing through the low and high points of wave a. The start and end points of the segments are marked with red circles, and distinctive letters are at the bottom of the end points of the segments. Zigzags. They also consist of three waves, but present more intense price movements.





LiteFinance: Continuation of the summary of Elliott Wave Theory.  NeoWave by Glenn Neely |  LitefinanceLiteFinance: Continuation of the summary of Elliott Wave Theory.  NeoWave by Glenn Neely |  Litefinance If we scale down the chart above, we will see that the correction, which we discussed above, is preceded by a zigzag (I left the basic wave labels in simple patterns like letters a, b, c). Both patterns are linked by a wave x, which in some cases may not be as clear as in the example, and are hidden in one of the monowaves. Triangles. These corrective patterns can be placed between lines of contraction or expansion. The lines are constructed according to the so-called contact points which can be 4 of the 6 maximum or minimum points of the segments.