A dialogue box popped up over the Wave 3 diagram.
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Elliott Wave theory becomes incredibly predictive when combined with Fibonacci retracement and extension levels. Measurement Tool Typical Fibonacci Target Retracement of Wave 1 50%, 61.8%, or 78.6% Wave 3 Extension of Wave 1 161.8%, 261.8%, or 423.6% Wave 4 Retracement of Wave 3 23.6%, 38.2%, or 50% Wave 5 Extension of Wave 1 to 3 38.2% or 61.8% of the net distance Wave C Extension of Wave A 100% or 161.8% of Wave A elliott wave cheat sheet mento pdf patched
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| Wave | Characteristic | |------|----------------| | ① | Start of trend, often sharp reversal | | ② | Retraces 50–78.6% of wave ①, go below start of ① | | ③ | Longest & strongest, never shortest among ①③⑤ | | ④ | Cannot overlap price of wave ① (in 4th wave) | | ⑤ | Final push, often diverging momentum (RSI/MACD) | A dialogue box popped up over the Wave 3 diagram
The motive phase drives the primary market trend. It is labeled using numbers: . Waves 1, 3, and 5 are impulse waves (actionary), while Waves 2 and 4 are corrective retracements. Absolute Rules of the Impulse Wave
: Sideways movement; can be Regular, Expanded, or Running. | Wave | Characteristic | |------|----------------| | ①
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The refers to a popular technical analysis guide often found on educational and document-sharing platforms like Scribd and StuDocu . It is designed to simplify the complex rules of Elliott Wave Theory for traders, particularly in the Forex market. Core Content of the Cheat Sheet