Thanks for asking some really pertinent questions.
Questions are the start of any new learning-journey.
Let’s address them one by one.
Well- you asking basic Elliot theory – difficult to explain in a post . For that, one needs to learn a lot . Would just say that wave number changes as one goes in higher time-frames…for example if one takes a 10 year time frame on any good company’s stock, all of them are in wave 1.
If you want to learn more , you can start from here and if you find it interesting then you can read this book . And later stages , you need a mentor , a serious practitioner .
Keep in mind that it is not exact science, it is an art and may need few years of experience to master it as it throws many possible- outcomes and on the basis on experience you need to short-list the preferred outcome.
Yes possible. One of many probabilities.But based on our experience, we wiil assign less weightage to that outcome.
Read basics of EW , you would get the idea.
Corrections can be of many types, we follow the price -action to determine the type.
Nope it does not change.
Sorry that we can’t answer everything in detail as that would need a whole post equivalent to a thick book.
| Subscribe To Our Free Newsletter |
