Elliott-wave Basic Fractal Pattern

Rules:

Impulsive Waves always divide into 5 waves: Waves 1,2,3,4,& 5; followed by a corrective wave, typically A, B & C.
The waves that are numbered (1,2,3,4,5) are in the direction of the Trend.
The waves that are Lettered (A, B, C ) are against the Trend.
Structure = 5-3-5-3-5 (21) followed by 5-3-5 (13)
Wave 1 could divide into an impulsive 5 wave or a Leading Diagonal.
Wave 3 is always an Impulsive 5 wave and is never the shortest wave.
Waves 5 & C are always 5 waves but it could be an Ending Diagonal.
Wave 2, 4 and B always subdivide in 3 wave corrections.
Wave 2 Never moves beyond origin of Wave 1.
Wave 3 must go beyond Wave 1.
Wave 4 never moves into wave 1 range.
Wave A can be a three wave structure or Leading Diagonal.
Wave 5 often goes beyond Wave 3, if not it is called "Truncation".
The Chart shows a bull Market. For a Bear Market the chart can be flipped and all the rules remain the same.
The same pattern can be viewed in all time frames: Thick Charts, 1 min, 2 min, 3 min, 5 min, 10 min, 15 min, 30 min, 1 h, 4h, Daily, Weekly, Monthly Charts etc...
Wave Analysis

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