If Wave 3 is extended, Wave 5 often equals the length of Wave 1, or reaches 61.8% of the net distance traveled from the start of Wave 1 to the top of Wave 3. 5. Quick-Reference Cheat Sheet Matrix
are corrective waves. They are temporary retracements within the larger uptrend or downtrend. The Corrective Phase
Motive Phase (1-5) Corrective Phase (A-C) (5) / \ (B) / \ / \ (3) Wave 4 / \ / \ / / \ / \ / (A) (C) (1) Wave 2 / \ / / \ / Fractal Nature: Wheels Within Wheels Elliott Wave Cheat Sheet Mento Pdf
On your PDF, write: "Only count swings that break a trendline." Ignore tiny internal structures. Focus on the highest time frame (4H or Daily).
"Wave 2?" Julian guessed, tracing the subsequent drop. If Wave 3 is extended, Wave 5 often
: The longest and strongest wave. Institutional money pours in, volume spikes, and prices surge.
The primary trend, whether bullish or bearish, moves in a 5-wave sequence, often referred to as a pattern. They are temporary retracements within the larger uptrend
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