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What type of wave is characterized by a strong move in the direction of the main trend, with five waves that subdivide into five waves of lesser degree?
What type of wave is characterized by a strong move in the direction of the main trend, with five waves that subdivide into five waves of lesser degree?
What is the primary purpose of labeling in Elliott Wave analysis?
What is the primary purpose of labeling in Elliott Wave analysis?
What is a characteristic of a zig-zag corrective wave?
What is a characteristic of a zig-zag corrective wave?
What is the Fibonacci ratio of the first retracement in an impulse wave?
What is the Fibonacci ratio of the first retracement in an impulse wave?
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What is the term for a corrective wave that combines two or three simple corrective waves?
What is the term for a corrective wave that combines two or three simple corrective waves?
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What is the term for a motive wave that extends beyond the termination point of the preceding wave?
What is the term for a motive wave that extends beyond the termination point of the preceding wave?
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What is the typical net retracement percentage for a Zig-zag corrective wave?
What is the typical net retracement percentage for a Zig-zag corrective wave?
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What is the purpose of using Fibonacci ratios in Elliott Wave analysis?
What is the purpose of using Fibonacci ratios in Elliott Wave analysis?
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What type of wave is characterized by a net retracement percentage of 10-40?
What type of wave is characterized by a net retracement percentage of 10-40?
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What is the term for a corrective wave that has three waves, with the second wave being a zig-zag?
What is the term for a corrective wave that has three waves, with the second wave being a zig-zag?
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What is the primary difference between a Zig-zag and a Triangle corrective wave?
What is the primary difference between a Zig-zag and a Triangle corrective wave?
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What is the characteristic of a triangle corrective wave?
What is the characteristic of a triangle corrective wave?
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What is the term for a corrective wave that has three waves, with the second wave being a flat?
What is the term for a corrective wave that has three waves, with the second wave being a flat?
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What is the term for the combination of two or more corrective waves?
What is the term for the combination of two or more corrective waves?
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What is the purpose of using Dividers in Elliott Wave analysis?
What is the purpose of using Dividers in Elliott Wave analysis?
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What is the primary focus of Behavioral Elliott Wave analysis?
What is the primary focus of Behavioral Elliott Wave analysis?
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What is the term for the complete Elliott Wave pattern?
What is the term for the complete Elliott Wave pattern?
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What is the primary characteristic of an Impulse Wave?
What is the primary characteristic of an Impulse Wave?
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What is the term for a corrective wave that moves in the opposite direction of the main trend?
What is the term for a corrective wave that moves in the opposite direction of the main trend?
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What is the primary goal of Trading Elliott Wave?
What is the primary goal of Trading Elliott Wave?
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What is the typical net retracement percentage for a Triangle corrective wave?
What is the typical net retracement percentage for a Triangle corrective wave?
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What is the term for a corrective wave that combines two or three simple corrective waves?
What is the term for a corrective wave that combines two or three simple corrective waves?
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What is the characteristic of a Triangle corrective wave?
What is the characteristic of a Triangle corrective wave?
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What is the primary focus of Behavioral Elliott Wave analysis?
What is the primary focus of Behavioral Elliott Wave analysis?
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What is the characteristic of a Running Triangle corrective wave?
What is the characteristic of a Running Triangle corrective wave?
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What is the term for a motive wave that extends beyond the termination point of the preceding wave?
What is the term for a motive wave that extends beyond the termination point of the preceding wave?
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What is the primary purpose of using Dividers in Elliott Wave analysis?
What is the primary purpose of using Dividers in Elliott Wave analysis?
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What is the term for a corrective wave that has three waves, with the second wave being a flat?
What is the term for a corrective wave that has three waves, with the second wave being a flat?
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What is the primary goal of Trading Elliott Wave?
What is the primary goal of Trading Elliott Wave?
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What type of wave is characterized by a strong move in the direction of the main trend, with five waves that subdivide into three waves of lesser degree?
What type of wave is characterized by a strong move in the direction of the main trend, with five waves that subdivide into three waves of lesser degree?
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What is the purpose of labeling in Elliott Wave analysis, besides identifying the degree of the wave?
What is the purpose of labeling in Elliott Wave analysis, besides identifying the degree of the wave?
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What is the characteristic of a zig-zag corrective wave, besides having three waves?
What is the characteristic of a zig-zag corrective wave, besides having three waves?
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What is the Fibonacci ratio of the third retracement in an impulse wave?
What is the Fibonacci ratio of the third retracement in an impulse wave?
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What is the term for a corrective wave that combines two or more corrective waves?
What is the term for a corrective wave that combines two or more corrective waves?
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What is the term for a motive wave that extends beyond the termination point of the preceding wave?
What is the term for a motive wave that extends beyond the termination point of the preceding wave?
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What is the purpose of using Fibonacci ratios in Elliott Wave analysis, besides identifying retracement levels?
What is the purpose of using Fibonacci ratios in Elliott Wave analysis, besides identifying retracement levels?
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What is the typical net retracement percentage for a Flat corrective wave?
What is the typical net retracement percentage for a Flat corrective wave?
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What is the term for a corrective wave that has three waves, with the second wave being a flat?
What is the term for a corrective wave that has three waves, with the second wave being a flat?
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What is the primary characteristic of a Triangle corrective wave?
What is the primary characteristic of a Triangle corrective wave?
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Study Notes
Elliott Wave Analysis
- Elliott Wave Analysis is a method of technical analysis that identifies patterns in price movements.
Labeling
- Labeling is an essential part of Elliott Wave Analysis, where waves are labeled as either motive or corrective.
Motive Waves
- Motive Waves are impulsive waves that move in the direction of the main trend.
- There are three types of motive waves: impulse, extension, and truncation.
Extensions
- Extensions occur when the third wave is the longest wave in the motive wave pattern.
- Extensions can be normal, running, or overlapping.
Truncation
- Truncation occurs when the fifth wave is shorter than the third wave in the motive wave pattern.
Corrective Waves
- Corrective Waves are countertrend waves that move against the main trend.
- There are four types of corrective waves: zig-zag, flat, triangle, and combination.
Zig-Zag
- A Zig-Zag is a corrective wave that has three legs, with each leg moving in the opposite direction.
Flat
- A Flat is a corrective wave that has three legs, with each leg moving in the same direction.
Triangles
- A Triangle is a corrective wave that has five legs, with each leg moving in an alternating direction.
Double and Triple Zig-Zag
- A Double or Triple Zig-Zag is a corrective wave that has multiple zig-zag patterns.
Combination (Double Three, Triple Three)
- A Combination is a corrective wave that combines two or more corrective wave patterns.
Fibonacci
- Fibonacci is a mathematical ratio used in Elliott Wave Analysis to identify retracement and extension levels.
- The Fibonacci ratio is approximately 1.618.
Fibonacci Ratios
- Fibonacci ratios are used to calculate retracement levels, with common ratios including 0.618, 0.382, 0.236, and 0.146.
Retracements – Impulse Waves
- Impulse Waves often retrace to the 23.6% or 38.2% Fibonacci level.
Retracements – Corrective Waves
- Corrective Waves have specific retracement levels, including 50-79% for Zig-Zag, 38-50% for Triangle, and 38-79% for Flat.
Multiples – Impulse Waves
- Impulse Waves can extend to multiples of the Fibonacci ratio, such as 1.618 or 2.618.
Multiples – Corrective Waves
- Corrective Waves can also extend to multiples of the Fibonacci ratio.
Dividers
- Dividers are used to separate and identify different wave patterns.
Trading Elliott Wave
- Trading with Elliott Wave Analysis requires identifying the current wave pattern and anticipating the next wave.
Behavioral
- Behavioral aspects of Elliott Wave Analysis include understanding market psychology and sentiment.
Elliott Wave Analysis
- Elliott Wave Analysis is a method of technical analysis that identifies patterns in price movements.
Labeling
- Labeling is an essential part of Elliott Wave Analysis, where waves are labeled as either motive or corrective.
Motive Waves
- Motive Waves are impulsive waves that move in the direction of the main trend.
- There are three types of motive waves: impulse, extension, and truncation.
Extensions
- Extensions occur when the third wave is the longest wave in the motive wave pattern.
- Extensions can be normal, running, or overlapping.
Truncation
- Truncation occurs when the fifth wave is shorter than the third wave in the motive wave pattern.
Corrective Waves
- Corrective Waves are countertrend waves that move against the main trend.
- There are four types of corrective waves: zig-zag, flat, triangle, and combination.
Zig-Zag
- A Zig-Zag is a corrective wave that has three legs, with each leg moving in the opposite direction.
Flat
- A Flat is a corrective wave that has three legs, with each leg moving in the same direction.
Triangles
- A Triangle is a corrective wave that has five legs, with each leg moving in an alternating direction.
Double and Triple Zig-Zag
- A Double or Triple Zig-Zag is a corrective wave that has multiple zig-zag patterns.
Combination (Double Three, Triple Three)
- A Combination is a corrective wave that combines two or more corrective wave patterns.
Fibonacci
- Fibonacci is a mathematical ratio used in Elliott Wave Analysis to identify retracement and extension levels.
- The Fibonacci ratio is approximately 1.618.
Fibonacci Ratios
- Fibonacci ratios are used to calculate retracement levels, with common ratios including 0.618, 0.382, 0.236, and 0.146.
Retracements – Impulse Waves
- Impulse Waves often retrace to the 23.6% or 38.2% Fibonacci level.
Retracements – Corrective Waves
- Corrective Waves have specific retracement levels, including 50-79% for Zig-Zag, 38-50% for Triangle, and 38-79% for Flat.
Multiples – Impulse Waves
- Impulse Waves can extend to multiples of the Fibonacci ratio, such as 1.618 or 2.618.
Multiples – Corrective Waves
- Corrective Waves can also extend to multiples of the Fibonacci ratio.
Dividers
- Dividers are used to separate and identify different wave patterns.
Trading Elliott Wave
- Trading with Elliott Wave Analysis requires identifying the current wave pattern and anticipating the next wave.
Behavioral
- Behavioral aspects of Elliott Wave Analysis include understanding market psychology and sentiment.
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Description
Test your knowledge of Elliott Wave Analysis, a method of technical analysis used to identify patterns in financial markets. This quiz covers the basics of labeling, motive waves, and more.
