There are several different type of waves: impulse, diagonal triangle, triple zigzag, flat, triangle, double 3, triple 3, zigzag, and double zigzag.
a lot of people commonly refer to the "impulse" as the elliot wave pattern since it is one of the more reliable patterns.
an impulse has five waves: 3 in one direction and two in the opposite direction
for example: wave 1 up, wave 2 down, wave 3 up, wave 4 down, wave 5 up
waves are based on different time frames, so if you have a elliot wave program it may calculate concurrent impulse waves at multiple time periods, with some of the impulse waves going up while another time period may be going down. correct interpretation of the dominant wave can get complicated. |
