I'm still trying to learn how to draw/count elliot waves. MY humble knowledge is based on Philakone's tutorial here: youtube.com/watch?v=XlcQWtB3q34
He said:
"If wave 2 retrace a lot: wave 3 won’t retrace that much.
Wave 4 won’t retrace into wave 1 territory (peak of wave 1). So wave 4 will retrace, but only higher than wave 1
After wave 5: don’t buy at 0.618. Do fib retracement of all waves, as if you make one big wave 1: the retracement will be huge: 0.5 or 0.618."
Examples see video at 23:10
So this is just my trying to draw the impulse waves... let's see it more or less it works like that.
He said:
"If wave 2 retrace a lot: wave 3 won’t retrace that much.
Wave 4 won’t retrace into wave 1 territory (peak of wave 1). So wave 4 will retrace, but only higher than wave 1
After wave 5: don’t buy at 0.618. Do fib retracement of all waves, as if you make one big wave 1: the retracement will be huge: 0.5 or 0.618."
Examples see video at 23:10
So this is just my trying to draw the impulse waves... let's see it more or less it works like that.
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