Waves 1, 2, 3, 4 and 5 form an impulse, and waves A, B and C form a correction.
The five-wave impulse, in turn, forms wave 1 at the next-largest degree,
and the three-wave correction forms wave 2 at the next-largest degree.
The corrective wave normally has three distinct price movements –
two in the direction of the main correction (A and C) and one against it (B).
Waves 2 and 4 in the above picture are corrections.
The five-wave impulse, in turn, forms wave 1 at the next-largest degree,
and the three-wave correction forms wave 2 at the next-largest degree.
The corrective wave normally has three distinct price movements –
two in the direction of the main correction (A and C) and one against it (B).
Waves 2 and 4 in the above picture are corrections.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.