In this video we will explain how we can identify 5 waves impulsive move, which is the most popular structure and everyone with some knowledge of Elliott Wave are familiar with. However, this 5 waves move do not happen that often in today’s market, compared to the market in the past. So what are some of the criteria used to label moves as 5 impulsive waves? Watch this video and learn how to identify impulsive waves using the 1 hour chart of Corn.
Please note that the rule states wave 4 should not overlap with wave 1 but at EWF, wave 4 should not retrace more than 50% of wave 3 as it states in the video. For further reading and tips, feel free to check Chart of The Day, or take 14 days FREE trial