Mastering Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises

Using Fewer Bars to Represent Complete Impulse Waves

You are learning several things by using boxes. The boxes force you to examine the internal structure and you have learned that every five-wave move can further subdivide waves 1, 3, and 5 into five smaller waves. When you look at waves in different time horizons they can display more or fewer bars because time expands and contracts. I have discovered most new to the Elliott Wave Principle will get this question wrong.

How many bars does it take to illustrate a five-wave move?

Figure 2.4 shows a 120-minute bar chart of the S&P 500. Not only are the three impulse waves contained within boxes (clear), but the corrective waves are in boxes as well (gray). You need to study the internals of these ...