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 …
WXY Correction: Rules, guidelines and a top example (2023) Read More »
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 …
WXYXZ Elliott wave: Rules, Formation, Examples (2022) Read More »
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 …
Lets face it. Getting a sense of direction on any chart is not an easy task. But it’s not impossible. Especially, when we combine Elliott waves theory with Harmonic patterns and Fibonacci ratios for example. Elliott waves theory (I believe it’s not a theory anymore, but a proven strategy) is an excellent method to study …
