NEoWave

A NEW approach
to Elliott Wave Analysis
 My fascination
With “Predictive”
Technical Analysis
VP’s SU-RE System
For predictable
SUpport & REsistance
 ITWA
1992

1988

This was the original base-line for the ’1992 bull market
 ITWA
1992

1990

1988

Second line showed acceleration from ‘1990 …

 ITWA

4000

1993

Joining lows of ‘1990 & ‘91 gave more accelerated

base-line, which exactly supported the low of ‘1993
 ITWA

The year 1995 opened below 4000, thus breaking the line
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In ‘2006, I plotted the base-line for the new bull market,

& found it to be exactly parallel to the previous one
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I, then, plotted a Pink color parallel, which provided

perfect upside targets during each of the last three years
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For the next year, i.e. ‘2007, the base-line was at 12300,
holding which, I argued, Sensex should attempt the
upper parallel, valued at 20000
 ITWA

This was the first chart of the series published on 18th dec’2006
 ITWA
Sensex hit 20000 on
29-Oct-2007, as expected

Week 43
VP’s Grid Levels
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Basic Concepts
of NEoWave
 ITWA

IMPULSE

3rd Extension 1st Extension

5
Impulse 5 Impulse 3
3
1 4
4

2
2-4 Line
1

2
 ITWA

IMPULSE

5 5th Failure
5th Extension 3 Impulse
Impulse 5

4
3
1
1 4
2
2
 ITWA
ZIGZAG

Normal 61.8% of a
Zigzag b

0-b Line
c
b

a c
Truncated
Zigzag
 ITWA
Elongated
b
Elongated
Zigzag
a

ZIGZAG
c

b
Zigzag ending on
Parallel channel
x
a

c
 ITWA
FLAT

0-b Line b
61.8% of a
Common
Flat

a
c
b

Elongated
a Flat

c
 ITWA
b FLAT

Irregular
Flat

a
c

b
B-Failure
Flat

a c
 ITWA
b FLAT

C-Failure
Flat
c
a

Double
Failure
Flat c
a
 ITWA
b
FLAT Irregular
C-Failure
Flat

c
a b

Running
Flat
a
 ITWA
CONTRACTING
TRIANGLE
Limiting
b Triangle
d

e Apex
Point
c
a

Non-Limiting
Triangle
b
d

e
c
a
 ITWA

d
b-d Lined
Normal
e
Triangle
(a > b > c > d > e)
a-c Line d
a

CONTRACTING
TRIANGLE b
b-d Line
d
Normal
Triangle
a e
(c > b) c
c-e Line
 ITWA
b
d Irregular
Triangle
(b > a)
e
c
a-e Line
a

CONTRACTING b
d
e
TRIANGLE

Running c
Triangle
(b longest)
a
 The new
“Retracement level”
revealed
 ITWA
COMPLEX
CORRECTIVES

80%
b 80%

a x
Channel
Double
c c Zigzag
(Zigzag + Zigzag)
a

c
 ITWA
COMPLEX
CORRECTIVES

80%
b

a x
b d

c e
a c
Double Combination
(Zigzag + Triangle)
 ITWA
COMPLEX
CORRECTIVES

Triple Zigzag
b
60-70%
x
a
b
c
x
a
c b

a
c
 ITWA
COMPLEX
CORRECTIVES
Triple Combination

b
60-70%
x
a
c b
x b
a d
c e
a c
Triple Combination
(Zigzag + Zigzag + Triangle)
New Wave patterns
revealed
 ITWA

f
b d
Bow-Tie
Diametric
c
a e
g

d
b f

Diamond-Shaped
Diametric
g
a e
c
 ITWA

b d
f

a e
c

Diamond-Shaped Diametric
or “Diamond Zigzag”
 How NEoWave is different
from “Classical” Approach
-  Each completed pattern does imply and transfer specific amount of
“Power” to future market action

- Corrective usually consumes more time than the move it is correcting

- Complex Corrective usually gets channeled

-  Complex Corrective is a combination of “Standard” Correctives

joined by “x” waves. There could be maximum two x-waves

- Smaller of the two adjacent waves of the same degree should be at

least 1/3rd of the other, price-wise or time-wise

- Any wave structure is confirmed over when its last segment gets
retraced faster
Sources for Basic and
Advanced concepts of
NEoWave
-  “Mastering Elliott Wave” : book by Glenn Neely

-  NEoWave.com

-  vivekpatil.com
Thank You