Making Waves: An Illustrated Guide To The Elliott Wave Principle by Karl Baldwin

Author:Karl Baldwin [Baldwin, Karl]
Language: eng
Format: epub
Publisher: Karl Baldwin
Published: 2016-04-16T22:00:00+00:00

Fig.17 Potential phase-4 turning points

Determining Likely Size of Phase-5

First, some guidance on relative sizes of impulse phases 1,3 and 5. Bear in mind the rule about phase-3 never being the smallest in amplitude.

There is also a tendency for two of the impulse phases (1, 3 or 5) to be equal (or very nearly so) in size and for one of 1, 3 or 5 to be extended. So, if both 1 and 3 are 'normal' sizes (i.e. phase-1 not extended and 3 not more than 161% of 1) expect 5 to extend.

To form a better idea of where phase-5 may end break 5 down into it's [5] phases (the next level of granularity) and examine it's phase-5 closely, applying the same approaches used previously.

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