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Strategies & Market Trends : Classic TA Workplace
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To: Henry J Costanzo who wrote (201306)1/6/2013 1:37:08 PM
From: h_  Read Replies (2) of 209892
 
P.53:
"Elliott states in Nature's Law that wave four in a five-wave sequence should not overlap wave one except within diagonal triangles, as discussed in Chapter 1. This is a hard and fast rule which should not be broken unless all other Elliott considerations force the analyst to accept that conclusion."

Every diagram in the book demonstrating a five-wave impulse shows the entirety of wave four outside the range of wave one. "Should not overlap" to me is very clearly stating that it cannot enter the range of wave one, not that its endpoint must lie outside the range of wave one.

I agree it's very difficult to count and I can't say that I can find a way to do it, but if hard and fast rules are being broken, the count can't be right.
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