Elliott Wave Cheat Sheets

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ELLIOTT
WAVES
CHEATSHEET
ELLIOTT WAVES CHEAT SHEET
Trading Mindset Disclaimer

All Rights Reserved. This document or any portion thereof may not be
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permission of the creator or publisher is illegal and punishable by law.
The use of these cheat sheets is not intended to be used as a standalone

product - basic knowledge and understanding of Elliott Wave Theory is
needed to understand the cheat sheets fully. This document is solely
intended for informational and educational purposes and does not
constitute as financial advise
Risk Management
The following cheat sheets are purely based on Ralph Nelson Elliott’s original
rules and guidelines for Elliott Wave theory that is supplemented with A.J
Frost and Robert Precther’s Elliott Wave Principles.
Technical Analysis Creator Credits: LarrytheTyrant

Graphic Design Credits: zSph
LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved

Elliott Wave Theory
COMPOUNDING ELLIOTT WAVE STRUCTURE
In Elliott’s theory, asset prices alternate between an impulsive (motive) phase and a corrective
I phase on all time scales of price.
5 Impulses are always subdivided into a set of five lower-degree waves, alternating again between
motive and corrective phases, so that waves 1, 3, and 5 are impulses, and waves 2 and 4 are
(5)
smaller corrective retraces of waves 1 and 3, respectively.
(3) (2) In a bear market the dominant trend is downward, and the pattern is reversed—five waves down
1 and three up. Motive waves always move with the trend, while corrective waves move against it.
(5)
3 B
(5) (C) (3) Elliott Wave Cardinal Rules
(4) (1)
(B) (2) Rule 1: Wave 2 does not retrace past the origin of Wave 1
(4) (A)
(1) Rule 2: Wave 3 is never the shortest wave.
(3)
Rule 3: Wave 4 does not retrace past the termination of Wave 1
(4)
Rule 4: Wave 1, Wave 3, and Wave 5 must be impulse structures.
(A) (1)
(3) (B)
(2) (1)
(4) Fibonacci Expansions Fibonacci Retracements
(4) (C) (5)
4 A • 100% (1.00) • 14.6% (0.146) - Very Rare
1 • 23.6% (.236)
• 123.6% (1.236)
(5) • 127.2% (1.272) • 27.2% (0.272)
(3) (2)
(1) • 134.14% (1.3414) • 34.14% (.3414)
(3) (B) • 38.2% (.382)
• 138.2% (1.382)
(5) • 50.0% (.5)
• 161.8% (1.618) – Golden Fib
C • 175% (1.75) • 55.0% (.55)
• 200% (2.00) • 61.8% (.618)
Largest Wave 1 Largest Wave 1 II
(2) Largest Subdivision 5 Largest Subdivision 3 • 223.6% (2.326) • 66.0% (.66)
(A)
(4) Next Subdivision 21 Next Subdivision 13 • 227.2% (2.272) • 70.6% (.706)
Next Subdivision 89 Next Subdivision 55 • 238.2% (2.382) • 78.6% (.786)
(1) 2 • 261.8% (2.618) – Golden Fib • 85.4% (.854) - Rare
(C)
8 • 300.00% (3.00) • 88.6% (.886) - Rare
2 • 90.0% (.9) - Very Rare
34 • 323.6% (3.236)
144 • 338.2% (3.382) • 94.0% (.94) - Very Rare
• 361.8% (3.618) – Golden Fib • 100% (1.0) - Very Rare
• 400% (4.0)
(2) Motive Phase Corrective Phase Trend Continuation • 423.6% (4.236)
• 438.2% (4.382) - Rare
•461.8% (4.618) - Very Rare Golden Fib
LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved 1/22
ELLIOTTICIAN GUIDELINES
LINEAR v
Wave 5
iii iii iii

Wave 3 Extension
1.0
iv iv
LOG i i i
Wave 1
ii ii ii
1.0
Guideline of Scale
Guideline of Channeling
Guideline of Euqality States that when looking at the market we should use both linear/arithmetic
scale chart and a logarithmic scale chart when analyzing Elliott Waves. States we can use the termination of certain waves within an
However, the greater percentage difference between the top/bottom price impulse or correction to project the potential end of the next
States that two of the motive sub-waves in a five wave sequence level, the greater the importance of using logarithmic scale.
will tend toward parity(equality). wave within the impulse or correction.
We should use linear charts for wave analysis while also referencing the
Most often, Wave 3 of an impulse wave is the extended wave. In logarithmic plotted waves in real time. Most notably, this can be used to help project the end of
these instances, Wave 5 will be similar in time, or length, or both. Wave 4, Wave 5, and Wave C (with the use of Wave A and B).
Logarithmic scale is best for extreme long term analysis, and best for
When a Wave 3 is recognized as having an extension, this is channeling of larger trends/higher degrees. Linear scale is best for real time
useful for projecting the length of Wave 5. and trading in the moment and looking at waves on lower degrees.
Time
(i)
5 v a
b (x)
c
3 e
iii b
b
d
4 iv a b
i c
Complex c (w)
1 Shallow (ii) a
Long
Simple Zigzag Intricate Triangle Complex Flat
ii c
Less Intricate Moderately Intricate Most Intricate
Simple (y)
Sharp
2 Short
Intricacy
Guideline of Depth of Corrective Waves Alternation Within a Correction

Alternation Within an Impulse
States that during a correction in the market after completion of a States that the forms of Wave A and Wave C will alternate within a
States that the structures for Wave 2 and Wave 4 will alternate in structure.
any manner or combination of time, depth, intricacy of the 5-Wave impulse, price will most often correct to the territory of the prior
structure, and complexity of structure. Wave 4 of the lesser degree (In extensions within an impulse, this is If Wave A is simple, Wave C will be complex.
always evident as Wave 4’s typically finish in near the prior Wave 4.
If Wave 2 is sideways and complex, Wave 4 will be sharp and simple. This is more evident in complex structures - Double three and Triple
This helps in anticipating the end of Wave 4. With larger degree completions, the market will often correct to the Three combinations. If the correction starts simple, the longer the
territory of the prior degree Wave 4 or Wave 1. If Wave 5 had an extension, correction proceeds the more intricate and complex it will become as
the ensuing correction will most likely terminate near sub wave 2 of the the correction progresses.
wave that extended.
ELLIOTTICIAN CHECKLIST
Awareness of Wave Degree, Alternatives, and Variations Wave Degree Confluences Directional Trend Confluences
If there are at least four wave degree counts lining up at a major point of trend reversal, If alternative count(s) vary from the Main Count (Bullish or Bearish) yet arrive at the same target
There does not have to be a Bullish and Bearish count. Allow price action to give you an idea highly likely that was the end of the trend for that count. The more degree’s lining up, the or projection, this means the trend has been identified however the wave count has not,
MAIN
(PREFERRED) of market bias. Do not force a count. Analyze the trend and sub wave structure, interpret higher the probability the trend is over - helps identify the end of a/some move. and is still a safe trade. Consider this - Market just completed an ABC or WXY:
COUNT the next likely move, place invalidations and validations for confirmation on the move (example: v of (v) of V of 3). • Price then makes 5 impulsive sub-wave moves up or down (This could be an A Wave or a Wave I)
• Price then forms 3 corrective sub-wave moves up or down correcting the prior 5 impulsive
Have an alternative scenario that could play out if the Main Count is invalidated: sub wave (This can be a B Wave or a Wave II)
• If the alternative count(s) is similar to the Main Primary Count (Bullish or Bearish), IMPULSE CONFLUENCE CORRECTIVE CONFLUENCE • Both 1 and 3 are still valid trades, as there is an expected C Wave or Wave III afterwards.
(C)
this can be interpreted as evidence that the Main Primary Count captures the best (5)
ALTERNATIVE 5
5
Wave Degree Confluence: End of a move
COUNT analysis based on the price action you analyzed.
3
PRIMARY (Before) ALTERNATE (Before)
(v)
• If alternative count(s) alter drastically from the Main Count (Bullish or Bearish), the count (A) (1)
5 5
may be valid however the trend is not clear and we need more price action data. (A) 3
5
B B
4 3 3
B (A)
3
1 5
Wave degree refers to the relative time frame that a given wave or pattern belongs to within 4
B
3
WAVE a wave count. E.G. a pattern that extends over a few days (subminuette or minuette) would
1
4 A 4 A
DEGREE generally be at a smaller/lower degree than one that extends over several weeks (Minute or 4 A
2
1 1 1
Minor). Average time of completion for each wave degree is still highly subjective.
C 4 A C C
(B) 2 (B) (2)
1
C
2
(B)
Analyzing, Forecasting, and Projecting (v)

2 2
2
(1) - (3) - (5) - (W) - (X) - (Y) (C) - (Y) - (Z)
Wave Degree Confluence: End of a move
C
• Look at larger time frame (Weekly, Daily and 4H) and label price action: (W)
LABEL Trend Continuation Trend Continuation
“Is it trending up, trending down, trending sideways?”
THE TREND
• Look at smaller time frame (1H and 15M) to confirm prior labeling on larger time frame
Wave Labelling PRIMARY (After) (C) ALTERNATE (After) (3)
(5) 3 5 5
Is the structure beginning to look like a 3-wave move or a 5-wave move?

3 3
IDENTIFY • If 3 moves up/down, expect 5 moves the opposite way. 1
(3)
WAVE
• If 5 moves up/down, expect 3 moves the opposite way. (A) (1)
STRUCTURE (1) (1)
IMPULSE 5 5
Impulsive move up? Impulsive move down?
4 4
Correction up? Correction down? B B
3 3
(4) 2 1 1
(2) Incorrect (2)

CONFIRM WITH Correct
FIB / VOL / RSI Use Fibonacci, Volume, and RSI to confirm the waves appropriately.
4 A 4 A
2 2
(C)
(Y) 1 1
(A) C C
C
(W)
C (B) (2)
CONSIDER Ensure the low time frame trend matches the overall direction of the larger B B
WAVE DEGREE time frame trend, however do not force the count. A
A
CORRECTION 2 2
A Incorrect
C A Correct
B (B) C (1) - (3) - (5) - (W) - (X) - (Y)
B (C) - (Y) - (Z)
(X)
WAVE 1 Wave 1 Profile
(1)
Wave 1 Rules WAVE TYPE 5-Wave, Motive, Actionary
5
Extensions typically occur in one actionary wave (W1, W3, or W5). Wave 3 is the most likely to have an
Rule 1: Must NOT retrace past the origin of Wave 1 extension. Wave 1 is least likely to extend. After an extension, the ensuing correction is likely to be sharp
3
and end near the extreme of Wave 2 of the extension.
1-2, 1-2 Setup

(B) - (X) New High / New Low EXTENSIONS • Often the sub wave that is extended is the same wave that will be extended in larger degree.
• If Wave 3 extends, Wave 5 most likely will be simply constructed and resemble Wave 1 in time and length.
• NEVER are Wave 1, Wave 3, and Wave 5 all extended.
• 2nd Wave 1 almost ALWAYS exceeds first Wave 1
• If Wave 1 and Wave 3 did not extend, likely Wave 5 will extend.
4
• 2nd Wave 2 never moves below First Wave 0:2 trendline
Wave 1 is difficult to predict in both price and time. As a general rule, Wave 1 can be expected, however
1 • 2nd Wave 1-2 typically does not exhibit alternation projecting Wave 1 approximately is extremely difficult. The largest clue that Wave 1 is occurring is if the
GUIDELINES
• 2nd Wave 2 is not as deep as 1st Wave 2 prior 3rd and 5th sub-wave of the preceding C/Y/Z correction has divergence, and if sub-wave 2 of
(A) - (W) potential Wave 1 immediately tests the new low/new high created and fails to make an new low/new high.
• 2nd 1-2 needs to be similar in proportions or less than first 1-2
Failed New High / Failed New Low
Wave 1 Fibonacci Targets

POTENTIAL Wave 1 can only subdivide into a regular impulse, extended impulse, or a leading diagonal.
2 SCENARIOS • Leading diagonal CANNOT be truncated
(C) - (Y) No Direct Fibonacci Relationship
Nesting 1-2, 1-2 Deep 1-2, 1-2

Wave 3 appears to be underway, yet price immediately returns to the first Wave 1 and 2 range.It may be tempting to
Price briefly breaks the new high/low created in the first Wave and immediately returns to the first Wave 1 and 2 range
label the structure a wave 4 and label the move as a leading diagonal, however if there is not a clear diagonal trendline
after surpassing the new high/low or failing to do so. The 2nd Wave 2 typically does not retrace more than .5. If the
being respected (converging, diverging, or parallel channel trendlines) and a clear 5 waves can be distinguished:
second Wave 1 does not exceed the high of the first Wave 1, it should be treated as a Flat depending upon the
High possibility this is a Deep 1/2, 1/2 set up
sub-wave structure, and is very unlikely that an extension (1-2, 1-2) is brewing.If price breaks the lower trendline of 1
v
the first 1/2, more likely we are in a complex Wave 2, Wave 2 is a flat, or potential Wave 1 is a Wave X.
iii
1
(1) v
5 iii
(1)
B 5 iv
2
3
i
iv 2 B i
3
A ii
4
4 A ii
1
Failure to break the high and breaking
C 1
0:2 trendline indicates Wave 2 is going
(2) C
to be complex, or this is an “X” leg.
(2)
2
2
(1) WAVE TYPE 3-Wave, Corrective, Reactionary, Sharp or Sideways, Simple or Complex
End of Wave 1 5 Wave 2 Rules

0 Can subdivide into:
End of Fib Retracement Pull
• Zig Zag
3 Rule 1: Must NOT retrace past the origin of Wave 1
POTENTIAL • Regular Flat, Expanded Flat, Running Flat
(B) - (X) PATTERNS • Double Three Combo (WXY)

Wave 2 Fibonacci Targets • Triple three combo (WXYXZ)
NEVER subdivides as a Triangle by itself.

0.382
Wave 2 and 4 nearly always alternate in terms of:
4 0.236 - 0.382 Uncommon • Structure of corrective pattern
0.5
1 • Time of formation
0.618 0.382 - 0.5 Common LAW OF • Strength and Depth of Retracement
0.66 ALTERNATION
(2) • Intricacy/Complexity (number of sub- wave divisions
(A) - (W) - (Y)
0.786 0.618 - 0.786 Most Common If one completed a sharp and simple correction (zigzag or double zig zag), the other
will likely be sideways and a complex correction (flat, triangle or combination)

0.886
2 0.886 - 1 Rare The correction begins following completion of a Wave 1 impulsive wave that occurs
Start of Fib Retracement Pull
1 after completion of a Wave C/Y/Z. Ensure the Wave 1 Impulse has a 5-wave sub
Start of Wave 1
(C) - (Y) -(Z) GUIDELINES
structure. Wave 2 is a three-wave structure comprised of Wave A, Wave B, and Wave C.
MUST subdivide into a 3-wave simple or complex structure.
Alternation Examples
CORRECTIVE PATTERN STRUCTURE STRENGHT AND DEPTH TIME OF FORMATION INTRICACY / COMPLEXITY
(5) (5) (5) (5)
B B B B
(3) (3) (3) (3)
Complex Flat Shallow Retracement Short Duration Multiple
A 10 Days A A 10 Days A Subwaves

C C 0.382 ( 38.2% ) C C
(4) (4) (4) (4)
(1) (1) (1) (1)
B B B B
Simple Zigzag Long Duration Few

A A Sharp Retracement A A
20 Days 20 Days Subwaves
0.786 ( 78.6% )
C C C C
(3) Wave 3 Rules WAVE TYPE 5-Wave, Motive, Actionary

2
Extensions typically occur in one actionary wave (W1, W3, or W5). Wave 3 is the most likely to have an
Rule 1: Wave 3 CANNOT be shortest impulse wave.
1.786 extension. Wave 1 is least likely to extend. After an extension, the ensuing correction is likely to be sharp
Rule 1: Wave 3 is NEVER a diagonal. and end near the extreme of Wave 2 of the extension.
1.618
• Often the sub wave that is extended is the same wave that will be extended in larger degree.
Wave 3 Larry Pull Targets • If Wave 3 extends, Wave 5 most likely will be simply constructed and resemble Wave 1 in time and length.
EXTENSIONS
(1) End of Wave 1
1 1.00 - 1.618 Uncommon *Hint - in order for an extension to occur, it must ping the next level*
Start of Fib Retracement Pull • For a chance of a full 2nd extension to 2.618, price must at least hit the 2.0
• For a chance of a full 3rd extension to 3.618, price must at least hit the 3.0
1.618 - 1.786 Most Common • For a chance of a full 4th extension to 4.618, price must at least hit the 4.0
The impulse begins following completion of Wave 2 (that has subdivided into a 3-wave structure). If there
1.786 - 2.618 Most Common GUIDELINES
(2) is a current channel being formed, Wave 3 that often occurs in a parallel channel. It is a three-wave
structure comprised of Wave A, Wave B, and Wave C.
Start of Wave 1
2.618 - 3.00 Common
0 Wave 3’s can have:
(C) - (Y) -(Z) • Single Extension (9 Waves)
3.00 - 3.618 Uncommon POTENTIAL
• Double Extension (13 Waves)
SCENARIOS
Single Extension
• Triple Extension (17 Waves)
4.00 - 4.618 Rare Very Rarely is there a Triple Extension
9
Wave 3 Trend Based Targets Double Extension 13
7 (3) (3)
11
5 5
3 1.236 - 1.618 - 2.236 Most Common 9 3
v v
5
No Extension iii
7 (v)
iii
3
4 2.618 - 3.236 - 3.618 Common 5 (iii) 4
i 3
iv 12
iv
1 8 Extension Present 1 (i)
(iv)
i Intermediate
(1) 6
10
1 8 Minor
ii 4.236 - 4.414 - 4.618 Uncommon (1) (ii)
Minute
4 WAVE 3 = 9 WAVES Multiple Extensions ii
2 6 Minuette
2 4 WAVE 3 = 13 WAVES
2 Wave Swing
(2)
2
LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved (2) 6/22
(3) End of Wave 3

Wave 4 Rules WAVE TYPE 3-Wave, Corrective, Reactionary, Sharp or Sideways, Simple or Complex

Can subdivide into:
Rule 1: Must NOT retrace past the origin of Wave 1
• Zig Zag
Common Scenario: Wave 4’s tend to finish in the prior degree
0.236
Wave 4 territory PATTERNS • Double Three Combo (WXY)
• Triple three combo (WXYXZ)

0.382
(4) Wave 4 Fibonacci Targets • Contracting Triangle, Barrier Triangle, Running Triangle
0.5 Wave 2 and 4 nearly always alternate in terms of:
• Structure of corrective pattern
(1) 0.618 • Time of formation

0.66 0.236 - 0.272 Uncommon
• Strength and Depth of Retracement
LAW OF • Intricacy/Complexity (number of sub- wave divisions
0.3414 - 0.382 Common ALTERNATION
If wave 2 completed a sharp and simple correction (zigzag or double zig zag), the other will
likely be sideways and a complex correction (flat, triangle or combination)

Start of Wave 3
0.382 - 0.5 Most Common * If Wave 4 alternates from Wave 2 in all aspects, very high probability the count is correct
(2) and are currently in a Wave 4, with an expected Wave 5 .*
0.618 - 0.66 Common Fourth waves can be predictable in both depth and form because of the guideline of alternation.
(C) - (Y) -(Z) They often trend sideways and form complex corrections, building a base for the final Wave 5 to
GUIDELINES
spring from. However, Wave 4 is difficult to label as "completed" due to the nature of Wave 4:
Alternation Examples
it is the most likely wave to develop into a complex correction or a corrective combination.
CORRECTIVE PATTERN STRUCTURE STRENGHT AND DEPTH TIME OF FORMATION INTRICACY / COMPLEXITY
(5) (5) (5) (5)
B B B B
(3) (3) (3) (3)
Complex Flat Shallow Retracement Short Duration Multiple
A 10 Days A A 10 Days A Subwaves

C C 0.382 ( 38.2% ) C C
(4) (4) (4) (4)
(1) (1) (1) (1)
B B B B
Simple Zigzag Long Duration Few

A A Sharp Retracement A A
20 Days 20 Days Subwaves
0.786 ( 78.6% )
C C C C
WAVE 5 (5)
2
Wave 5 Larry Pull Targets Wave 5 Profile
1.618
Start of Wave 4
(3) 1.236 1.236 - 1.618 Most Common WAVE TYPE 5-Wave, Motive, Actionary
1
1.786 - 2.0 Common Extensions typically occur in one actionary wave (W1, W3, or W5). Wave 3 is the most likely to have an
extension. Wave 1 is least likely to extend. After an extension, the ensuing correction is likely to be sharp
End of Wave 4
2.0 - 2.618 Uncommon and end near the extreme of Wave 2 of the extension.
EXTENSIONS • Often the sub wave that is extended is the same wave that will be extended in larger degree.
0
(4) 1:1 of Wave 1 Uncommon* • If Wave 3 extends, Wave 5 most likely will be simply constructed and resemble Wave 1 in time and length.
*Common if Wave 3 is extended
0.618 Wave 1-3 Rare
Fifth waves are less dynamic and display slower speed of price change than the previous waves. They will
(1)
Wave 5 Trend Based Targets usually be accompanied by lesser volume and breadth. We will often see momentum divergence forming at
the termination point of Wave 5, indicating a weakening of the trend and price is poised for a reversal.
GUIDELINES
• Wave 5 extensions, truncated Wave 5's, and Wave 5 ending diagonals Imply a potential dramatic reversal.
0.618 of Wave 0:3:4 Most Common • At some turning points, two of these irregularities can occur together in the same structure yet different
degrees - compounding the violence of the next move/reversal in the opposite direction.
No Extension
Wave 5’s can have:
(2) 1:1 of Wave 1 Uncommon • Leading Diagonal (LD)
POTENTIAL
• Ending Diagonal (ED)
No Extension SCENARIOS
(C) - (Y) -(Z) • Divergence
1 - 1.236 - 1.618 Wave 1-3 Common • Truncation
Ending Diagonal (Common)

Truncation typically only occurs if there was multiple extensions in Wave 1, Wave 3, or both waves
Extension Present
(5)
Divergence Truncation (Rare)
5
5
3
UPTREND UPTREND VARIATION DOWNTREND VARIATION
1 VARIATION 3
3
Higher High
4 (4)
5 4
2
2
4
Candlestick / Bars Chart
(4) 4
Lower High
DOWNTREND
VARIATION 1 70
3 4 5
5
30 3
(5)
LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved VOL / MACD / RSI / OSC 8/22
WAVE A
(5) - (C) - (W) - (X) - (Y) Wave A Profile
5
2 Wave A Rules WAVE TYPE 5-Wave, Motive, Actionary
3
Rule 1: Must Subdivide into 5 Waves Wave A is difficult to predict in both price and time. As a general rule, Wave A can be expected, however
CANNOT subdivide as only 3 waves projecting Wave 1 approximately is extremely difficult. The largest clue that Wave A is occurring is if the
prior 3rd and 5th sub-wave of the preceding 5/C/Y/Z correction has divergence, and if sub-wave 2 of
1 potential Wave A immediately tests the new low/new high created and fails to make an new low/new high.
4 4
Wave A Fibonacci Targets GUIDELINES • A sharp Wave A that starts subdividing as a 5-wave structure indicates a Zig Zag correction is forming.
If the 5-wave move was shallow, expect a complex correction to ensue.
No Direct Fibonacci Relationship • A shallow or sideways Wave A that starts subdividing as a 3-wave structure indicates a potential Flat
1 correction is forming.
• A sharp Wave A that starts subdividing as a 3-wave structure indicates a potential Triangle is forming.
3
Wave A Can subdivide into:
5 POTENTIAL • Regular Impulse
PATTERNS
(A) • Extended Impulse
2 • Leading Diagonal
(4) - (B)
Leading Diagonals
(A)
5 (5)
3
2
1
4
4 UPTREND VARIATION DOWNTREND VARIATION
1
2
3
(5) 5
(A)
WAVE B Wave B Profile
Wave B Rules
(5) - (C) - (W) - (X) - (Y)
Rule 1: Wave B can by ANY correction in a Zig Zag.
Start of Wave 1 5 WAVE TYPE 3-Wave, Corrective, Reactionary, Sharp or Sideways, Simple or Complex
1 Rule 2: Wave B can ONLY be a Zig Zag in a Flat or a Triangle.
2 Can subdivide into:
• Zig Zag
3
Wave B Fibonacci Targets
0.786
(B) PATTERNS • Double Three Combo (WXY)

0.618 • Triple three combo (WXYXZ)
1
0.5 0.236 - 0.272 Uncommon • Triangle (of any kind)
4 4
0.236 - 0.382 Common Wave B is often considered a bull trap as it often traps traders into believing the prior
CHARACTERISTICS
existing trend is still healthy. Wave B most often fails to surpass Wave 5
1
0.382 - 0.5 Most Common
3
End of Wave 1 Wave B must retrace at least by 23.6% of Wave A.
0
End of Fib
5 0.618 - 0.66 Common GUIDELINES There is no minimum time constraint for Wave B, however it typically will not exceed 10
Retracement Pull
times the length of time taken to form Wave A.
(A)
2 0.786 - 0.886 Common
(4) - (B)
Common Wave B Examples (X)

C
(B)
C (B)
2 (B) C (D)
2 A
C B C
B A B B
2 B
A A A B
1 4
1 4 B A
3 B 1 4 A A A B
B A A B C
5 C (E)
(A)
3 C 3 (C)
C C
5 (A) 5 (W) (A)
C
(C) (C) (Y)
ZigZag (Any Kind) Flat (Any Kind) WXY (Any Kind) Triangle (Any Kind)
WAVE C Wave C Profile
Wave C Rules
(5) - (C) - (W) - (X) - (Y) Rule 1: Must Subdivide into 5 Waves WAVE TYPE 3-Wave, Corrective, Reactionary, Sharp or Sideways, Simple or Complex
Start of Wave A 5 CANNOT subdivide as only 3 waves
2
0
3 (B) Can subdivide into:
C Wave C Larry Pull Targets POTENTIAL

• Impulse
1 PATTERNS
• Leading Diagonal
4
A
0.618 Wave A Uncommon States that the forms of Wave A and Wave C will alternate within a structure. If Wave A is simple, Wave C
4 3 B will be complex, and vice versa. As with Wave 5, we will often see momentum divergence forming at the
End of Wave A CHARACTERISTICS
Start of Fib
1
1:1 Wave A Common termination point of Wave C, indicating a weakening of the trend and price is poised for a reversal.
Retracement Pull
5
(A) 1.236
1 It is not allowable to have both truncation in Wave A and Wave C. If the initial ABC correction following
1.382
1.236 - 1.272 - 1.382 Very Common
(C) a 5 Wave impulse fails to break the trendline of the lows that connect Wave 2 and Wave 4 of the prior
1.618 GUIDELINES Motive Phase, there is a large chance of the correction turning into a complex correction. If the
1.618 - 1.786 Most Common previous impulse waves were extended, there is a probability that the ABC correction will be deeper
2 than expected, or a combination is expected
2.00 - 2.236 - 2.272 Common

(4) - (B)
2.382 - 2.618 Uncommon
(i)
Wave C Trend Based Targets v
Guideline Of Depth
0.618 - 1.00 - 1.236 - 1.382 - 1.618 iii b
States that during a correction in the market after completion of a 5-Wave
Zigzag Targets impulse, Wave C will most often correct to the territory of the prior Wave 1
of the lesser degree

1.236 - 1.382 - 1.618 - 2.236
(In extensions within an impulse, this is always evident). i iv a
Expanded Flat Targets
c
With larger degree completions, the market will often correct to the
1.236 - 1.382 - 1.618 (ii)
territory of the prior degree Wave 4 or Wave 1.
Regular Flat Targets
ii
0.618 - 1.00
Running Flat Targets
ZIGZAG PATTERN 2 (B)
0.786
C 0.66
ZigZag Rules
0.618
4 2 Rule 1: Wave B Must NOT retrace past the origin of Wave A.
1 A
3 ZigZag Fibonacci Targets

B 1 4
5 Wave B Wave C (Larry Pull)
(A)
Zigzag
3 1.236 0.236 - 0.272 0.618 - 0.786
Double Zigzag 1.382 0.382 - 0.5 1.00 - 1.13
Impulse Triple Zigzag Impulse
5
(C) 0.618 - 0.66 1.236 - 1.272
ZigZag Profile Leading Diagonal Flat (any) Ending Diagonal 1.618
Triangle (any) 0.786 - 0.854 1.382 - 1.618

MODE Corrective, Reactionary
2.00 - 2.236
STYLE Sharp, Simple
STRUCTURE 5-3-5 2.382 - 2.618

Wave Characteristics
FREQUENCY First most likely corrective pattern.
WAVE A
Wave C Trend Based Targets
Zig Zags most commonly occur in Wave 2, yet can occur in
Wave 4. However, they can also occur in:

Five motive (actionary) waves. It is the start of a trend correction on a larger degree.
• Wave 2 and 4 of a Leading Diagonal in Wave 1/A
NOTABLE
• Wave 2 and 4 of a Ending Diagonal in Wave 5/C
PLACEMENTS
• Wave B in any simple or complex correction. 0.618 - 1.00 - 1.236 - 1.382 - 1.618
• Wave X in any complex correction. WAVE B
Three corrective (reactionary) waves. It is corrective as it countertrends the larger Wave C is Rarely truncated.
• Wave W and Y in double three complex corrections.
• Wave W/X/Y/Z in triple three corrections. degree trend. The "Bounce" prior to the Wave C extension. *Look for price reactions at the Fibonacci levels. If price does not reject,
and sub-wave structure is not complete, look for the next level to be hit
The correction begins following completion of a five-wave impulsive Most commonly retraces between Fib levels of .382and .786.
pattern that often occurs in a parallel channel. It is a three-wave

GUIDELINES
structure comprised of Wave A, Wave B, and Wave C.
*Most common compared to Flats and Triangles*

WAVE C
Five motive (actionary) waves. It is the start of a trend correction on a larger degree.
Most commonly occurs in Wave 2 and Wave X.
(B)
EXPANDED FLAT PATTERN C
1.272
1.236
1.13
2
Expanded Flat Rules
1
B A Rule 1: Wave B MUST retrace past the origin of Wave A.
Rule 2: Wave C MUST extend past the termination of Wave A.
Rule 3: Wave C CANNOT be truncated.

1
4
A
B Expanded Flat Fib Targets
Wave B Wave C (Larry Pull)

C 3 1.13
(A) 1.236 1.05 - 1.13 0.618 - 0.786

1.272
Zigzag 5 1.382
1.236 - 1.272 1.00 - 1.13
Double Zigzag Zigzag (C)
Impulse
Triple Zigzag Double Zigzag 1.618 1.3414 - 1.382 1.236 - 1.272
Ending Diagonal
Expanded Flat Profile Flat Triple Zigzag
1.382 - 1.618
Double Three (WXY)

2.00
STYLE Sideways, Simple
2.236 - 2.272
STRUCTURE 3-3-5
Third most likely corrective pattern.
FREQUENCY

Second most likely Flat pattern to occur.
WAVE A
Expanded Flats most commonly occur in Wave 4, yet can also occur in Wave 2.
However, they can also occur in: Three corrective (reactionary) waves. It is the start of a trend correction on a larger degree.
• Wave B in any simple correction. 1.236 - 1.382 - 1.618 - 2.236

NOTABLE
• Wave W, X, and Y in double three complex corrections.
PLACEMENTS
• Wave Z in triple three corrections. WAVE B Wave C is Never truncated.
Most commonly occurs in Wave 4 and Wave B. *Look for price reactions at the Fibonacci levels. If price does not reject,
Threecorrective (reactionary) waves. It is corrective as it countertrends the larger degree trend.
Cannot occur in a Triple Three Correction (WXYXZ) if WXYXZ is a Triple ZigZag. and sub-wave structure is not complete, look for the next level to be hit
The correction begins following completion of a five-wave impulsive

WAVE C
pattern that often occurs in a parallel channel.
Five motive (actionary) waves. It is the continuation of Wave A.
GUIDELINES
It is a three-wave structure comprised of Wave A, Wave B, and Wave C. Cannot be truncated
The more powerful the underlying trend, the briefer the flat tends to be.
(B)
REGULAR FLAT PATTERN C
1
0.9
2
Regular Flat Rules
A Rule 1: Wave B Must NOT retrace past the origin of Wave A.
B
Rule 2: Wave C MUST extend past the termination of Wave A.
1
4 Expanded Flat Fib Targets
A B
Wave B Wave C (Larry Pull)
C 3 1.236 0.886 1.00 - 1.13

(A) 1.382
Zigzag 5
0.9 1.236 - 1.272
(C)
Double Zigzag 1.618
1 1.382 - 1.618
Zigzag Impulse
Triple Zigzag
Double Zigzag Ending Diagonal 2.00
Regular Flat Profile Flat
Double Three (WXY) 2.236 - 2.272


STRUCTURE 3-3-5
FREQUENCY
Second most likely corrective pattern. 1.236 - 1.382 - 1.618 - 2.236
Most likely Flat pattern to occur.
Wave C is Never truncated.
WAVE A
*Look for price reactions at the Fibonacci levels. If price does not reject,
Three corrective (reactionary) waves. It is the start of a trend correction on a larger degree.
However, they can also occur in:
• Wave B in any simple correction.
NOTABLE
• Wave X in any correction.
PLACEMENTS
• Wave W and Y in double three complex corrections. WAVE B
• Wave W, X, Y and Z in triple three corrections. Three corrective (reactionary) waves. It is corrective as it countertrends the larger degree trend.
Most commonly occurs in Wave 4 and Wave W. The "Bounce" prior to the Wave C extension.
pattern that often occurs in a sideways parallel channel.

WAVE C
GUIDELINES Five motive (actionary) waves. It is the continuation of Wave A.
It is a three-wave structure comprised of Wave A, Wave B, and Wave C.
Cannot be truncated
(B)
RUNNING FLAT PATTERN 1.272 C
1.236
Running Flat Rules

1.13
2
1.05
A
Rule 1: Wave B Must NOT retrace past the origin of Wave A.
B
4
Rule 2: Wave C Must NOT extend past the termination of Wave A.
1
B 0.618 Running Flat Fib Targets

3
A
0.786
5 Wave B Wave C (Larry Pull)
0.886
(C)
1
C 1.05 - 1.13 0.618
(A)
Zigzag 1.236 - 1.272 0.786
Double Zigzag Zigzag 1.3414 - 1.382 0.886

Impulse
Triple Zigzag Double Zigzag
Ending Diagonal 0.9
Runnning Flat Profile Flat Triple Zigzag
Double Three (WXY) 1


STRUCTURE 3-3-5
FREQUENCY
Fourth most likely corrective pattern. 0.618 - 1
Least likely Flat pattern to occur.
Wave C is ALWAYS truncated.
WAVE A
*Look for price reactions at the Fibonacci levels. If price does not reject,
Three corrective (reactionary) waves. It is the start of a trend correction on a larger degree.
However, they can also occur in:
• Wave B in any simple correction.
NOTABLE
• Wave X in any correction.
PLACEMENTS
• Wave W and Y in double three complex corrections. WAVE B
• Wave Z in triple three corrections. Three corrective (reactionary) waves. It is corrective as it countertrends the larger degree trend.
Most commonly occurs in Wave 4.
pattern that often occurs in a parallel channel. WAVE C

GUIDELINES Five motive (actionary) waves. It is the continuation of Wave A.
It is a three-wave structure comprised of Wave A, Wave B, and Wave C.
CONTRACTING TRIANGLE PATTERN
(B) Contracting Triangle Rules
C (D)
C Rule 1: Wave B is less than Wave A
B B Rule 2: Wave C is less than Wave B

A A B Rule 3: Wave D is less than Wave C
Rule 4: Wave E is less than Wave D
A 0.5 Rule 5: A > B > C > D > E
A A B 0.618 Trendline that connects the lows of A, C, and E CAN be broken,

B C
(E) 0.786
however price cannot break the low/high of the prior wave.
C Contracting Triangle Fib Targets

(C)
C Wave B Wave C
(A) Zigzag
Double Zigzag
Zigzag Zigzag Zigzag Zigzag 0.55 0.55
Contracting Triangle Profile Double Zigzag Double Zigzag Double Zigzag Double Zigzag Triangle
0.618 0.618
MODE Corrective, Reactionary Uncommon Scenario 0.66 0.66
STYLE Sharp, Simple
STRUCTURE 3-3-3-3-3 0.706 0.706

(B)
0.786 0.786
Fifth most likely corrective pattern. (D)
FREQUENCY
Most likely Triangle pattern to occur. (occurs 60% of the time) *Of Wave A* *Of Wave B*
B
Contracting Triangles most commonly occur in Wave 4. However, they can also occur in: D
• Wave B in any simple or complex correction. Wave D Wave E

• Wave X in any complex correction.
NOTABLE
PLACEMENTS
• Wave Y in double three complex corrections.
0.55 0.55
• Wave Z in triple three corrections.
E
• Does NOT occur in Wave 2.
A
C 0.618 0.618
Typically occurs PRIOR to final actionary wave, however can occur as the FINAL actionary wave.
(C) (E)
(A) 0.66 0.66
GUIDELINES Is difficult to identify until Leg C is completed. Wave C is the most likely to be a complex wave
0.706 0.706
UNCOMMON Wave E normally subdivides into a ZigZag, yet can RARELY subdivide as a Triangle by itself.
9-Wave Triangle: Formerly labeled (ABCDEFGHI) 0.786 0.786
SCENARIOS Potential for any leg to form a Triple Zig Zag (WXYXZ), however this is extremely unlikely.
*Of Wave C* *Of Wave D*

RUNNING TRIANGLE PATTERN (B)
C
Running Triangle Rules

(D)
C Rule 1: Wave B MUST retrace beyond the origin of Wave A
A B Rule 2: A < B
A B Rule 3: B > C > D > E
B
Trendline that connects the lows of A, C, and E CAN be broken,
A 0.5 however price cannot break the low/high of the prior wave.
B A B 0.618
C
(E) Running Triangle Fib Targets
0.786
A C
(C) Wave B Wave C
C
(A) Zigzag
1.05 0.55
Zigzag Double Zigzag
Zigzag Zigzag Zigzag
Running Triangle Profile Double Zigzag Double Zigzag Double Zigzag Double Zigzag Triangle
1.13 0.618
1.236 0.66
MODE Corrective, Reactionary Uncommon Scenario
STYLE Sharp, Simple 1.272 0.706
STRUCTURE 3-3-3-3-3
1.3414 0.786
(B)
Fifth most likely corrective pattern. *Of Wave A* *Of Wave B*
(D)
FREQUENCY
Most likely Triangle pattern to occur. (occurs 40% of the time)
Running Triangles most commonly occur in Wave 4. However, they can also occur in:
B
D Wave D Wave E
• Wave B in any simple or complex correction.
• Wave X in any complex correction. 0.55 0.55

NOTABLE
• Wave Y in double three complex corrections.
PLACEMENTS
• Wave Z in triple three corrections. 0.618 0.618
E
• Does NOT occur in Wave 2. C
A
Typically occurs PRIOR to final actionary wave, however can occur as the FINAL actionary wave. 0.66 0.66
(C) (E)
(A)
GUIDELINES Is difficult to identify until Leg C is completed. Wave C is the most likely to be a complex wave 0.706 0.706
0.786 0.786
9-Wave Triangle: Formerly labeled (ABCDEFGHI)
SCENARIOS Potential for any leg to form a Triple Zig Zag (WXYXZ), however this is extremely unlikely. *Of Wave C* *Of Wave D*
BARRIER TRIANGLE PATTERN (B) (D)
C C Barrier Triangle Rules
Rule 1: Wave B is less than Wave A
A Rule 2: Wave C is less than Wave B
B Rule 3: Wave D is less than Wave C

B B
Rule 4: Wave E is less than Wave D
A 0.5
Rule 5: A > B > C > D > E
0.618
B A Trendline that connects the lows of A, C, and E CAN be broken,

A however price cannot break the low/high of the prior wave.
A
0.786
B C
(E) Barrier Triangle Fib Targets
C
(C) Wave B Wave C
C
0.55 0.55
(A) Zigzag
Double Zigzag
Zigzag Zigzag Zigzag Zigzag 0.618 0.618
Barrier Triangle Profile Double Zigzag Double Zigzag Double Zigzag Double Zigzag Triangle
0.66 0.66
MODE Corrective, Reactionary Uncommon Scenario 0.706 0.706
STYLE Sharp, Simple
STRUCTURE 3-3-3-3-3 0.786 0.786
Fifth most likely corrective pattern.

(B) 0.9 0.9
(D)
FREQUENCY Most likely Triangle pattern to occur. (occurs 60% of the time) *Of Wave A* *Of Wave B*
Barrier Triangles most commonly occur in Wave 4. However, they can also occur in: B
• Wave B in any simple or complex correction.
D Wave D Wave E
• Wave X in any complex correction.
NOTABLE
• Wave Y in double three complex corrections. 0.55 0.55
PLACEMENTS
• Wave Z in triple three corrections.
• Does NOT occur in Wave 2.

0.618 0.618
E
Typically occurs PRIOR to final actionary wave, however can occur as the FINAL actionary wave.
C
A
(C)
0.66 0.66
Is difficult to identify until Leg C is completed. Wave C is the most likely to be a complex wave. (E)
(A)
GUIDELINES There are two variations - when the horizontal trendline is connected between Wave B and wave
0.706 0.706
D, and the other is when the horizontal trendline is connected by Wave A, Wave C and Wave E
0.786 0.786
9-Wave Triangle: Formerly labeled (ABCDEFGHI)
SCENARIOS Potential for any leg to form a Triple Zig Zag (WXYXZ), however this is extremely unlikely. 0.9 0.9
LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved *Of Wave C* *Of Wave D* 18/22
CONTRACTING LEADING DIAGONAL (5)
5 Contracting Leading Diagonal Rules
(3) 3 Rule 1: Wave 1 > Wave 3 > Wave 5
5
Rule 2: Wave 2 > Wave 4
4
3 B 1 Rule 3: Wave 5 CANNOT be truncated
(1)
5
4
2 Leading Diagonal Fibonacci Targets
A
3 1
B C
(4) Wave 2 Wave 4
4 2
A 0.618 0.382
1
0.66 0.5
C
(2) 0.786 0.618
2
Impulse
Zigzag
Impulse
Zigzag
Impulse 0.81 0.66
Zigzag Zigzag Zigzag
Double Zigzag
Double Zigzag
Double Zigzag
Double Zigzag Double Zigzag
0.832 0.706
*Of Wave 1*
0.886
Leading Diagonal Profile *Of Wave 1* ALWAYS ends past Wave 1
Impulsive, Motive, Actionary
MODE
Sharp, Simple
STYLE
3-3-3-3-3 / 5-3-5-3-5 (Rare) Downtrend Variation Uptrend Variation
STRUCTURE
CANNOT be a hybrid structure
(5)
5
Leading Diagonals can only occur in:
NOTABLE
• Wave 1 within an Impulse 2 (3) 3
PLACEMENTS 5
• Wave A within a Correction (2) 1 4
C B
(1) 3
Leading Diagonals tend to often end with a "throw-over" in the 5th wave of the Leading 5 2
1 A
Diagonal (extending above the upper trendline of the diagonal). Throw-overs are 4 2 4 A
3 1
occasionally telegraphed by a preceding "throw-under" in Wave 4 of the diagonal (break C
(4) B
GUIDELINES (4)
below the lower trendline of the diagonal). Typically signifies exhaustion of the larger trend B C
3 1
and notably retraces sharply back to the level where it began and typically much further. 4 A 4 2
A
2 1
*Diagonals can trend in a parallel channel, contracting, or expanding nature. 5
(1) 3 C
B
1 4
(2)
UNCOMMON 5
Potential for any leg to form a Triple Zig Zag (WXYXZ), however this is extremely unlikely. 2
SCENARIOS (3) 3
5
CONTRACTING ENDING DIAGONAL (5)
C Contracting Ending Diagonal Rules
(3) Rule 1: Wave 1 > Wave 3 > Wave 5
C A
Rule 2: Wave 2 > Wave 4
B
Rule 3: Wave 5 CAN be truncated, as long as structure is valid
(1)
C B
A
A
Ending Diagonal Fibonacci Targets
B C
A (4) Wave 2 Wave 4
B
A 0.618 0.382
0.66 0.5
C
B
(2) 0.786 0.618
Zigzag Zigzag Zigzag Zigzag Zigzag

0.81 0.66
Double Zigzag
Double Zigzag Double Zigzag Double Zigzag Double Zigzag
0.832 0.706
*Of Wave 1*
0.886
Ending Diagonal Profile *Of Wave 1* ALWAYS ends past Wave 1
MODE Impulsive, Motive, Actionary
STYLE Sharp, Simple

Downtrend Variation Uptrend Variation
STRUCTURE 3-3-3-3-3
(5)
Ending Diagonals can only occur in: C
• Wave 5 within an Impulse (3) A

C
NOTABLE
• Wave C within a Correction (2)
More likely to occur in Wave 5. B C B
PLACEMENTS (1)
A B
This is because the preceding move has gonetoo far too fast. C
A
In a WXY or WXYXZ, they occur as the final C Wave. A
A (4) B C
B
Typically signifies exhaustion of the larger trend and notably retraces sharply C
(4)
B A B
GUIDELINES back to the level where it began and typically much further. A
A
*Diagonals can trend in a parallel channel, contracting, or expanding nature. A B
C
(1) B C
B
(2)
UNCOMMON C A
Potential for any leg to form a Triple Zig Zag (WXYXZ), however this is extremely unlikely.
SCENARIOS (3)
C
1.236
DOUBLE THREE COMBINATION: WXY 1.13

Double Three Combination Rules
(X)
C
0.886 Rule 1:Wave X can take any form however notably takes the form of a ZigZag.
0.786 Rule 2: If structure is a Double ZigZag, Wave X must NOT retrace past origin of Wave W.
B A B
WXY Fibonacci Targets
Wave X Wave Y (Larry Pull) Wave Y (Trend Based)

A
B
0.5 - 0.55 1 - 1.13 0.618 - 1
A
0.618 - 0.706 1.236 - 1.272 1.05 - 1.13
C 1.13
(W) Flat (any) 1.236 0.786 - 0.832 1.382 1.236 - 1.382

v Flat (any)
Flat (any) Zigzag 1.382
0.854 - 0.886 1.618 1.618
C
Zigzag
Zigzag Double Zigzag (Y) 1.618
Double Zigzag 0.9 - 1.13 2 1.786 - 2.236
Double Zigzag Triple Zigzag
Triangle (any) Almost always ends past Almost always ends past
Triangle (any) 1.236 - 1.272 Wave W. Can be truncated Wave W. Can be truncated
Double Three Combination Profile CANNOT extend past
Wave W if Double Zigzag
MODE Corrective, Reactionary WXY Examples

STYLE Sideways, Complex
STRUCTURE 3-3-3 (X) (X) (X)

C B C C
Ending Diagonals can only occur in: B B
NOTABLE D D
• Wave B in any simple correction. A A
PLACEMENTS B A B
• Wave A of a Flat. B
If the initial ABC correction following a 5 Wave impulse fails to break the
trendline of the lows that connect Wave 2 and Wave 4 of the prior Motive Phase,
there is a large chance of the correction turning into a complex correction. The
E E
GUIDELINES
forms of Wave W and Wave Y will often alternate within a structure. If Wave W is
A B A
C A C (Y)
simple, Wave Y will be complex, or the correction There is no predicting the end (Y)
A A A
of a Complex Combination. If two corrective structures can be identified clearly B B
C C C
that connect (Wave W and Wave X), await the for the A and B of Wave Y to mark
(W) (W) (W) C
clear validations and invalidations for the next move. (Y)
WXY’s most commonly start with a Zig Zag.* ZigZag Flat Triangle Flat ZigZag Triangle ZigZag Flat ZigZag
TRIPLE THREE COMBINATION: WXYXZ Triple Three Combination Rules
1.236
1.13 1.236
Rule 1:Wave X can take any form however notably takes the form of a ZigZag.
(X) 1.13
C (X) Rule 2:Wave XX can take any form however notably takes the form of a ZigZag.
0.886
C 0.886
0.786 Rule 3: If structure is a Triple ZigZag, Wave X must NOT retrace past origin of Wave W.
B A 0.786
B Rule 4: If structure is a Triple ZigZag, Wave XX must NOT retrace past origin of Wave Y.
A B WXYXZ Fibonacci Targets

A Wave X - XX Wave Y - Z (Larry Pull) Wave Y - Z (Trend Based)
B
A
B 0.5 - 0.55 1 - 1.13 0.618 - 1
C 1.13
(W) 1.236
1.382
A 0.618 - 0.706 1.236 - 1.272 1.05 - 1.13
1.13
C 1.236
Flat (any)
1.618
(Y) Flat (any) 1.382

0.786 - 0.832 1.382 1.236 - 1.382
Flat (any) Flat (any) C
Zigzag Flat (any) Zigzag
0.854 - 0.886 1.618 1.618
1.618
Zigzag Zigzag
Double Zigzag Zigzag Double Zigzag (Z)
Double Zigzag Triangle (any)
Triple Zigzag Triple Zigzag 0.9 - 1.13 2 1.786 - 2.236
CANNOT be truncated.
Triple Three Combination Profile 1.236 - 1.272
CANNOT extend past

Wave W or Y if Triple Zigzag
WXYXZ Examples
STYLE Sideways, Complex
STRUCTURE 3-3-3-3-3
ALTERNATION NO ALTERNATION
Ending Diagonals can only occur in:
NOTABLE
• Wave B in a ZigZag. (X) (X)
PLACEMENTS (X) (X)
C C
• Wave 2, Wave 4, Correction after completion of a 5 wave motive phase cycle C C
B
This is an extremely rare pattern, and you should avoid counting it in real time and B
A D B A
should wait until the final leg is being formed. The only thing we can expect in a A B A
B
WXYXZ is complete alternation or no alternation.
ALTERNATION NO ALTERNATION
If alternation, there is typically only 1 ZigZag If no alternation, only two patterns can occur:
GUIDELINES out of the actionary waves of W, Y, and Z: • ZZ, X, ZZ, XX, ZZ (Triple Zig Zag - Rare) B E B
B A B
• ZZ, X, Flat, XX, Triangle • Flat, X, Flat, XX, Flat (Triple Flat - More Rare) A C (Z) A
A
• Flat, X, ZZ, XX, Triangle A
• Flat, X, ZZ, XX, Flat (W) C
C C
(W) C
(Y) (Y)
F&P notes in EWP "As with multiple zigzags, three patterns appear to be the limit, (Z)
and even those are rare compared to the more common WXY.”
ZigZag Wave X Flat Wave XX Triangle ZigZag Wave X ZigZag Wave XX ZigZag

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Technical Analysis Creator Credits: LarrytheTyrant

LarryTheTyrant X TradingFloor Elliott Wave Cheatsheet - ©2022 All Rights Reserved

I phase on all time scales of price.

iii iii iii

Guideline of Depth of Corrective Waves Alternation Within a Correction

Analyzing, Forecasting, and Projecting (v)

Is the structure beginning to look like a 3-wave move or a 5-wave move?

(2) Incorrect (2)

1-2, 1-2 Setup

Wave 1 Fibonacci Targets

2 SCENARIOS • Leading diagonal CANNOT be truncated

(C) - (Y) No Direct Fibonacci Relationship

Nesting 1-2, 1-2 Deep 1-2, 1-2

End of Wave 1 5 Wave 2 Rules

(B) - (X) PATTERNS • Double Three Combo (WXY)

NEVER subdivides as a Triangle by itself.

will likely be sideways and a complex correction (ﬂat, triangle or combination)

MUST subdivide into a 3-wave simple or complex structure.

Complex Flat Shallow Retracement Short Duration Multiple

A 10 Days A A 10 Days A Subwaves

Simple Zigzag Long Duration Few

(3) Wave 3 Rules WAVE TYPE 5-Wave, Motive, Actionary

structure comprised of Wave A, Wave B, and Wave C.

(3) End of Wave 3

End of Fib Retracement Pull

• Triple three combo (WXYXZ)

0.5 Wave 2 and 4 nearly always alternate in terms of:

• Structure of corrective pattern

(1) 0.618 • Time of formation

likely be sideways and a complex correction (ﬂat, triangle or combination)

Complex Flat Shallow Retracement Short Duration Multiple

A 10 Days A A 10 Days A Subwaves

Simple Zigzag Long Duration Few

1 - 1.236 - 1.618 Wave 1-3 Common • Truncation

Ending Diagonal (Common)

2 Wave A Rules WAVE TYPE 5-Wave, Motive, Actionary

If the 5-wave move was shallow, expect a complex correction to ensue.

5 POTENTIAL • Regular Impulse

(B) PATTERNS • Double Three Combo (WXY)

Common Wave B Examples (X)

3 (B) Can subdivide into:

C Wave C Larry Pull Targets POTENTIAL

2 than expected, or a combination is expected

2.00 - 2.236 - 2.272 Common

of the lesser degree

Running Flat Targets

3 ZigZag Fibonacci Targets

Triangle (any) 0.786 - 0.854 1.382 - 1.618

STRUCTURE 5-3-5 2.382 - 2.618

Wave 4. However, they can also occur in:

pattern that often occurs in a parallel channel. It is a three-wave

*Most common compared to Flats and Triangles*

B A Rule 1: Wave B MUST retrace past the origin of Wave A.

Rule 2: Wave C MUST extend past the termination of Wave A.

Rule 3: Wave C CANNOT be truncated.

Wave B Wave C (Larry Pull)

(A) 1.236 1.05 - 1.13 0.618 - 0.786

MODE Corrective, Reactionary

Wave C Trend Based Targets

Most common compared to Flats and Triangles

Of Wave C Of Wave D