The most common motive wave is an impulse. Figures 1, 2 and 3 depict impulses in the 1, 3, 5, A and C wave positions.

There are only a few simple rules for interpreting impulses properly. A rule is so called because it governs all waves to which it applies and should never be disregarded. Typical, yet not inevitable, characteristics of waves are called guidelines. Analysts who routinely break any of the rules detailed in this section are practicing some form of analysis other than that guided by the Wave Principle. These rules have great practical utility in correct counting.

Key Takeaway: Impulses are the bread-and-butter moves for traders and investors.

For a complete description, please read Elliott Wave Principle: Key to Market Behavior by Robert Prechter and A.J. Frost.