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Elliott Wave 4 Rules

I've started trading in earnest with MTPredictor finally on demo accounts after two weeks of monitoring and observing the automatic setups on currencies from daily down to 15min timeframes. So far so good, short trades on EURCAD on 3 timeframes on 04/09/14 produced +65R which was fun!

Ed, Private Trader

Risk Disclaimer Testimonials herein are unsolicited and may not be representative of the experience of other Customers and is not a guarantee of future performance or success.

Elliott Wave 4 Rules

Elliott Wave (4) cannot retrace into the area of Wave (1)

If Wave 4 retraces into the area of Wave 1, then it cannot be considered a Wave 4, and the current wave structure must be reconsidered.


Here Wave 4 has retraced back below the high of Wave 1, which would be in breach of the third rule, so this wave count is incorrect and must be re-considered.

GoTo General observation…

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