Waves theory, Elliott, personality of waves, supports and resistance, points pivots
The wave 2 can correct until 100 % the wave 1 but can on no account, to go below this one. It is then necessary to make a new counting.
The wave 3 is never the shortest wave. If she(it) is smaller vague, than 1, then the wave 5 will be even smaller than 3. It suffers no exception.
The wave 4 can never lower(go down) more low than the summit of the wave 1.
[...] The wave 5 It is the wave of the small bearers. She(it) is generally little dynamic but she(it) lasts for a long time. It is the last phase of a movement: the end of the euphoria for the bullish movements and the despair for the bear movements. At the end of vagueness(wave) we notice a decline of the volumes and sometimes a wave 5 which does not exceed the pip(top) or the bottom (as the market is bullish or bear) of the wave 3. [...]
[...] It is also the reference of calculation to determine the levels of resistance and support. Points pivots are represented under the shape of seven horizontal lines, defined from the classes(courses) of the day before: A central line of the session for the determination of the tendency three level lines of support three level lines of resistance. Calculation of points pivots Pivot = + B + Where Hour is the highest price of the day before B is the lowest price of the day before C is the closing price of the day before. [...]
[...] An elementary rule(ruler) to be held(retained) concerning this type of vagueness(wave) is that it is never the shortest among the waves of impulse that are waves and 5. It is waves which know generally extensions and which are accompanied very strong volumes. The wave 3 is never the shortest wave. If she(it) is smaller vague, than then the wave 5 will be even smaller than 3. It suffers no exception. The wave 4 It is a wave much less violent than roams her(it) 2. She(it) comes to strengthen the market. According to the principle of alternation (cf. [...]
[...] So the zone of resistance, in the future will become a zone of support. On the other hand, if this resistance is not broken, it means that the price of the asset(active person) will go down again. Effect of support: when the class(course) of an asset(active person) approaches its level of support, we can notice either in a resumption of the class(course), or in an intensification of the bear tendency. Indeed, if this psychological threshold is thus broken and crossed by the class(course) of the asset(active person), it means that traders is pessimistic and thus that the price of the asset(active person) is certainly going to continue to fall until a next level of support. [...]
[...] A contrario, a single wave of a dimension consists of 5 sub- waves of a lower degree dimension. 3rd element Every impulsive wave ( 1-3-5 ) consists of 5 sub-waves, while every corrective wave ( 2-4 ) consists of 3 sub-waves. Rules The wave 2 can correct until the wave 1 but can on no account, to go below this one. It is then necessary to make a new counting. The wave 3 is never the shortest wave. If she(it) is smaller vague, than then the wave 5 will be even smaller than 3. [...]
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