Three Cardinal Rules in Elliott Wave Theory.

There are three cardinal rules in Elliott Wave Theory when labeling waves:

Rule Number 1: Wave 3 can NEVER be the shortest impulse wave

Rule Number 2: Wave 2 can NEVER go beyond the start of Wave 1

Rule Number 3: Wave 4 can NEVER cross in the same price area as Wave 1

If you look hard enough at a chart, you’ll see that the market really does move in waves.

The forex market never moves in a textbook-perfect fashion.

So it will take many, many hours of practice analyzing waves before you start to get comfortable with Elliott waves.

Stay diligent and never give up!

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