Elliot Wave in Elliot Wave

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Elliot Wave in Elliot Wave

Elliot Wave in Elliot Wave, as explained in the previous article that Elliot Wave is fractals. If it’s still confused whether it’s fractals in Elliot Wave, let’s look at the following example.

Elliot Wave

Elliot Wave in Elliot Wave

By looking at the picture above we can conclude that waves 1-3-5 in the impulse wave consist of 5 smaller waves of Elliot Wave (Impulse Wave). Waves 2-4 consist of smaller ABC waves to correct price movements. And this is what is called fractals in the Elliot Wave theory which will always be repeated in a period.

Elliot divided the wave scale into:

  •  Grand Supercycle (multi century)
  •  Supercycle (around 40-70 years)
  •  Cycle (one year to several years)
  •  Primary (a month to a year)
  •  Intermediate (weekly to monthly)
  •  Minor (weekly)
  •  Minutes (daily)
  •  Minuette (several hours)
  •  Sub-Minuette (several minutes)

So the grand supercycle wave is formed by supercycle waves formed by cycle cycles. And this cycle of waves is formed by primary waves formed by intermediate waves. And this intermediate wave is formed by minor waves formed by minute waves. And this minute wave is formed by a minuette wave formed by the smallest wave, the sub-minuette. Confused? no right.

Now if we previously saw Elliot Wave in the example always looks smooth and easy to guess, the following is an overview if it is in your trading platform.

How about the same as the picture in theory?
 even though it’s only slightly different. Okay, then we will discuss about the 3 (three) basic rules at Elliot Wave so that we do not misjudge trading positions using this theory

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