## Practical Elliott Wave Trading Strategies Part 1

This tutorial begins a series of how to apply Elliott wave analysis for practical trading strategies. All subscribers have some Elliott wave background from my Dynamic Trading book. Because that book goes through the pattern structures in detail, there is no need to repeat that information in this tutorial series. It is assumed for this … Read more

## Fibonacci ratios

The Fibonacci series are a mathematical sequence in which any number is the sum of the two preceding numbers. The sequence goes as follows: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and so on. The properties of this sequence appear throughout nature and also in the arts and sciences. Most notably … Read more

## Channeling

Channeling is an important tool not only to determine which sub waves belong together, but also to project targets for the next wave up. Channels are parallel lines, which more or less contain the complete price movement of a wave. Although the trend lines of a Triangle are not parallel lines, they will also be … Read more

## Ascending and descending Triangles

Description These are mentioned under the Triangles description in the Classic patterns section. Basically these patterns are the same as common contracting triangles, except for the fact that ascending and descending triangles slope up or down.

## Running Flat (modern) Pattern

Description This pattern is exactly the same as a Running Flat, except for the fact that it must retrace more than 60%, if not we consider it to be a normal Running Flat. This distinction is necessary, because normally a Running Flat is rare. But if it retraces more than 60% and still fails to … Read more

## Running zigzag Pattern

Description Apart from contracting Triangles, a failure in a corrective pattern happens when the C wave is shorter than wave A and fails to go beyond the end of A. This mostly happens in Running Flats and or in Zigzags. It indicates strength in the direction of the main trend. Rules and guidelines • The … Read more

## Impluse 2 Pattern

Description An Impulse 2 is an uncommon pattern that resembles a normal impulse considerably. In our daily analysis we allow for a maximum retracement of 51.5% for wave 4 in an impulse or other trend pattern. Of course sometimes the retracement of wave 4 could be 51.6% and an impulse would then be eliminated, in … Read more

## Running Flat Pattern

Description The Running correction is a rare special form of a failure. This pattern is a kind of Flat, with an elongated B wave and a very small C wave. According to theory wave C should be so short that it doesn’t get to the price territory of wave A. In our daily analysis we … Read more

## WXY or Combination Pattern

Many kinds of combinations are possible. Below a rather complex example has been depicted. Description A Combination combines several types of corrections. These corrections are labeled as WXY and WXYXZ if it is even more complex. It starts for example with a Zigzag (wave W), then an intermediate X wave, then a Flat (wave … Read more

## Impulse Patterns

Description Impulses are always composed of five waves, labeled 1,2,3,4,5. Waves 1, 3, and 5 are themselves each impulsive pattern and are approximately equal in length. Waves 2 and 4 on the contrary are always corrective patterns. Rules and guidelines The most important rules and guidelines are: • Wave 2 cannot be longer in price … Read more