Wave colors (Descending order of degree) Waves Font Style Waves Font Size

BLACK ALGERIAN 12
BLUE ALGERIAN 12
RED ALGERIAN 12
GREEN ALGERIAN 12
BROWN ALGERIAN 12
PINK ALGERIAN 12
BLACK ARIAL 8
required)
(If
Minor

BLUE ARIAL 8
Waves

RED ARIAL 8
GREEN ARIAL 8
Impulse Waves Corrective Waves Internal Retracements Ext. Retracements
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Fib. Expansions
 Activity 1:
On Monthly chart of EURUSD, starting from far-left of this chart,
move arrows to SIGNIFICANT PRICE LOW and
SIGNIFICANT PRICE HIGH.
 SIGNIFICANT
This arrow represents the Signi
which marks the end to eithe

SIGNIFICANT PRICE LOW

Always analyse the charts from Far-left to spot the oldest significant
Price Low or High to cover maximum price data. This price low will also
be the starting point for wave count on EURUSD.
 SIGNIFICANT PRICE HIGH
s arrow represents the Significant Price HIGH on EURUSD
which marks the end to either 5-wave or ABC sequence.

ldest significant
price low will also
RUSD.
 A
Starting from significant low
a. Decide whether this comp
ABC move?
b. Drag and place the waves o
 ACTIVITY 2
tarting from significant low price:
Decide whether this complete advance is a 5-wave move or an
BC move?
. Drag and place the waves on the entire bullish move.
 WAVE 5
Marks the end to 5-wav
WAVE 3 AND WAVE 4 and begins the larger c
WAVE 3: Often the strongest wave, prior 5-wave m
travels more than 161.8% of wave 1.
WAVE 4: Mostly retraces in between
38.2% to 50.0% as wave 4 are not
deep corrections.

WAVE 1 AND WAVE 2

A first noticeable advance and its

retracement in a 5-wave sequence
marks an end to wave 1 and wave 2.
 WAVE 5
Marks the end to 5-wave sequence
and begins the larger correction to
prior 5-wave move.
 ACTIVITY 3
We know that within an Elliott Wave Cycle, a 5-wave move is
followed by a larger correction. Now label ABC waves in this
correction and decide whether this correction is complete or
in progress?
Also answer what type of correction is this?
 ACTIVITY 3 SOLUTION
Based on the wave analysis, ABC correction is in the final leg
(or WAVE C) on the largest degree.
In wave C, impulse subwave 5 is unfolding as we speak
hence making the long-term trend BEARISH on EURUSD.
It is a ZIGZAG CORRECTION (3-3-5).

WAVE A
WAVE A unfolded into 5-3-5 pattern
 WAVE B
WAVE B unfolded in a 3-3-5 pattern. Although it was a simple
correction in comparison to wave A, the trick here is to notice
that it corrected up to 61.8% of wave A which in itself is a deep
retracement hence signalling the end to wave B.

WAVE A
unfolded into 5-3-5 pattern.

WAVE C
As wave C always consists of 5 subwaves, therefore we label the
subwaves to see whether wave C is complete or not.
We use blue colour waves to label waves on the second-largest
degree. To conclude we are in impulse wave 5 within Wave C.