Supertiming: The Unique Elliott Wave System: Keys to Anticipating Impending Stock Market Action by Robert C. Beckman

Author:Robert C. Beckman [Beckman, Robert C.]
Language: eng
Format: epub
Tags: Business & Economics, Personal Finance, Investing, Investments & Securities, General, E-Commerce, Online Trading
ISBN: 9780857193834
Google: fpjHAgAAQBAJ
Publisher: Harriman House Limited
Published: 2014-02-17T00:08:51.219523+00:00

One may suddenly detect a most confusing and serious flaw in the behaviour pattern. Suddenly we find two extra waves formed by the “double retracement” which do not appear to have a place within the normal Wave Count. In the progression of a cycle one should find three impulse waves going upward interrupted by two downward corrective waves, totalling five. We should then find two downward impulse waves, interrupted by one upward corrective wave totalling three, and thus completing the eight-wave cycle. What happens to the two waves formed by the “double retracement”? How do they fit in?

Elliott made it quite clear that these “double retracements” would later fit into conventional overall patterns, i.e. it certainly would not be a question of getting a couple of extra patterns which could conveniently be added as a sort of hiatus between two sets of waves – for instance – to be disregarded with the Wave Count starting anew, after the “double retracement” and treating the next set of waves as if the “double retracement” had no meaning. Conventional wave patterns were intended to remain.

The manner in which subsequent patterns develop from the “double retracement” is quite simple and also tends to serve as a guide towards future market behaviour following a “double retracement”.

When a “double retracement” occurs following the fifth wave of either the first impulse move in a series or the third impulse move in a series, normal corrective action follows. In terms of the Wave Count, the first retracement (“A”, “B”, “C”) merely becomes Wave 2 (if following an extended first wave), or Wave 4 (if following an extension of the third wave). The second retracement merely reinstates the direction of the main trend forming the initial stages of either the third or fifth wave, remaining a part of the conventional Wave Count. In effect, the “double retracement” following an extended first or third wave merely represents a corrective wave plus part of a subsequent impulse wave.

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