Section 2 Motive Waves 2.1 Guidelines of Wave Formation The guidelines presented throughout this chapter are discussed and illustrated in the context of a bull market. Except where specifically excluded, they apply equally in bear markets, in which context the...
Section 1 1.8 Additional Terminology (Optional) Terms that Denote Purpose Though action in five waves is followed by reaction in three waves at all degrees of trend regardless of direction, progress begins with an actionary impulse, which by convention is graphed in...
Section 1 1.7 Corrective Waves Markets move against the trend of one greater degree only with a seeming struggle. Resistance from the larger trend appears to prevent a correction from developing a full motive structure. This struggle between the two...
Section 1 1.6 Detailed Analytics Motive Waves Motive waves subdivide into five waves and always move in the same direction as the trend of one larger degree. They are straightforward and relatively easy to recognize and interpret. Within motive waves, wave 2 always...
Section 1 1.5 Wave Function Every wave serves one of two functions: action or reaction. Specifically, a wave may either advance the cause of the wave of one larger degree or interrupt it. The function of a wave is determined by its relative...
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