Elliott Wave - General
General
When an initial pump then dump happens, how do you know if its a 1-2 or A-B?
- You must prepare by thinking the first impluse could be a 1 OR A, 2 OR B, and 3 OR C.
- A C has a much lower target then a 3 (use fib extensions)
Wave 1
Wave 2
- On the wave 2 retracement, you usually target the 0.5 to 0.786 due to it being a deeper pullback and people are still in denial / fear that the pull back is a fake out