I do not understand one of the guide lines of the elliot wave theory Please help!

Beginner Questions Candlesticks, Chart Patterns, and Price Action
1

I understand every thing about the elliot wave theory but can someone help me identifiy this guideline, on the school it states -

[B][U]Wave 5, more often than not, goes beyond or “breaks through” the trend line drawn off Wave 3 parallel to a trend line connecting the start of Waves 3[/U][/B]

any chance sombody can show me a chart describing this?
thank you in advanced

2

ellot wave.jpg700×368 18.3 KB

i guess this is what is meant.

1 Like
3

turbo your a legend thanks :slight_smile:

4

a quick note about wave 5, it is often the 0.618 extension from the start of wave 1 to end of wave 4 or equals the length of wave 1 (1.0 extension)

5

I think you mean from the start of wave 1 to the end of wave 3

7

I think that Elliot Wave is excellent technique, but also heavy one. I mean, it is easy to follow where fourth and fifth waives will be, but certainly most hardest is to sport first three levels. I still haven’t managed to spot them in advance