Elliott waves

WXY Elliott wave is a 3-wave corrective formation which is also known as the “Double three combo”. It is called a “double three” because it includes 2 main corrective waves (W and Y) combined by a sub wave (X) in between. WXY correction can be similar to an ABC correction because they both consust of […]

WXYXZ Elliott wave is a 5-wave corrective formation which is also known as the “Triple three combo”. It is called a “triple three” because it includes 3 main corrective waves (W,Y and Z) combined by 2 sub waves (2 Xs) in between. This particular wave correction appears in a prolonged sideways market. Or perhaps it’s

A corrective wave is the counterpart of a motive wave. The net movement of a corrective wave, although not always, is against the preceding motive wave. Let’s think of it as a phase for the market to rest and regroup, before it commences the subsequent impulse wave. This is the most important part to learn