Showing posts from January, 2018

What is Impulse Wave?

What is an Impulse wave?
Elliott Wave is bifurcated into two waves namely:- 1    .Impulse Wave 2    .Corrective Wave
The waves are labeled in numbers (1-2-3-4-5) in the former wave as mentioned above.
The three golden rules of impulse wave are 1    .Wave 2 should not go beyond wave 0, it can be 100% but not below or above the origin. 2    .Wave 3 is the longest wave in the impulse wave i.e. (1-3-5) but not necessarily. 3    .Wave 4 should not enter in the terrain of wave 1.
If all the above rules are not met, then the wave is not termed as impulse but corrective wave.
Corrective wave are different and difficult to interpret. The rules are different so its guidelines.
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Below is the picture of an Elliott Wave Cycle