This is why you suck at identifying Elliott Wave channels
If you have read the holy bible of elliott waves, you would know that Elliott wave guidelines suggest that you:
1. draw a straight line from end of wave 1 to end of wave 3
2. draw a parallel line from the end of wave 2 (parallel to the line we made in 1.)
3.if end of wave 4 is not on this line, adjust projection for wave 5 by drawing a parallel line to the line connecting end of wave 4 to end of wave 2, at end of wave 3.
4. Extended may break the channel :)
Note: there is no mention that the smaller waves within these waves have to be inside the channel. only the starting point and ending point are considered.
1. draw a straight line from end of wave 1 to end of wave 3
2. draw a parallel line from the end of wave 2 (parallel to the line we made in 1.)
3.if end of wave 4 is not on this line, adjust projection for wave 5 by drawing a parallel line to the line connecting end of wave 4 to end of wave 2, at end of wave 3.
4. Extended may break the channel :)
Note: there is no mention that the smaller waves within these waves have to be inside the channel. only the starting point and ending point are considered.
Комментарий:
Comment below if you understood this well :)