The Professor’s Elliott Waves
The Creation of Waves and Trends – from the Professor’s stock trading strategies
When a single Hockey Stick Pattern is repeated, it starts to form a series of waves. Taken together, the waves start to form trends. By analyzing wave counts traders can determine the direction and length of the primary trend. Knowing the direction of the primary trend and trading in that direction is the key to Making Money. Remember: The Trend is your friend.
Primary Trend
A primary trend always consists of 5 waves.
Wave Formation Rules
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Wave 2 never retraces more than 100% of wave 1. If it does, it’s not a 1-2. Wave 3 is never shorter than wave 1 AND wave 5. If it is, it’s not a five-wave structure. Wave 4 never ends in the price territory of wave 1. If it does, it’s not a wave 4. Five-wave impulses indicate the direction of the larger trend. |
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Correct Wave Counts
Potential Reversal Patterns
Example of DJIA
Primary trend is down.
Here’s some of the daily
commentary and analysis that
the ‘Professor’s’ Cum Laude subscribers receive
Professor’s Comments July 16, 2013
Professor’s Weekend Strategy Review July 13, 2013