Pssssst! Wanna Sound Like a Pro?

Trade secret time, kiddies! Want to know where most Elliott wave analysts get their first and best target from? This one little guideline from page 66 of Elliott Wave Principle, which says that:

Corrections, especially when they themselves are fourth waves, tend to “register their maximum retracement within the span of travel of the previous fourth wave of one lesser degree, most commonly near the level of its terminus.”

Man, that’s a mouthful isn’t it? These guys must be super smart!

Nah, take a chill pill. See the green lines going thru the ends of waves 3 and 4? The area between them is the previous fourth wave span. That lesser degree stuff? Well, waves 1-5 complete wave (1) which is one bigger degree than any of its components, so the wave (2) correction ends here near wave 4 which is one lesser degree! It ain’t rocket science, folks!

Oh, and that bit about “terminus?” Another fancy name for the end of wave 4. And this works whether you’re looking at a 5-minute chart or a 50 year chart, or anything in between!

Done! Now you too can forecast like a pro, impress your friends and find fame and fortune! Get going!!

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