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A few weeks back there were some posts on Elliot wave. This is an area
I am currently exploring....for the weekend. There must be some rules
of thumb for the observations and interpretations of the waves. In
scanning my charts I have used the following
1) Wave 2 should be equal to wave 4
2) Zig Zag in wave 2 is common
3) wave 3 can have and extension ...usually 5 wavelets
Those of you who have more experience in Elliot wave......Could you
enter some more that you use....maybe we can develop a better
understanding of how the system is to be used. The system I use needs
four bars to be posted past the last wave turning point before it plots
the wave line is this the norm?
John
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