Section 1 1.4 Essential Design Now observe that within the corrective pattern illustrated as wave ② in Figure 1-3, waves (A) and (C), which point downward, are each composed of five waves: 1, 2, 3, 4 and 5. Similarly, wave (B), which points upward, is composed of...
Section 1 1.3 Wave Mode There are two modes of wave development: motive and corrective. Motive waves have a five-wave structure, while corrective waves have a three-wave structure or a variation thereof. Motive mode is employed by both the five-wave pattern of Figure...
Section 1 1.2 Basic Tenets The Wave Principle is governed by man’s social nature, and since he has such a nature, its expression generates forms. As the forms are repetitive, they have predictive value. Sometimes the market appears to reflect outside conditions and...
Section 1 1.1 The Broad Concept In The Elliott Wave Principle — A Critical Appraisal, A. Hamilton Bolton made this opening statement: As we have advanced through some of the most unpredictable economic climate imaginable, covering depression, major war, and postwar...
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