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Irregular First Elliott Wave

 


The irregular first Elliott wave is a distinctive first wave that does not adhere to our Elliott wave count guidelines. It is often confuses Elliott wave traders who do not go into the minds of other wave traders.
Knowing that if one fails to recognize correctly the first wave, one may also label the subsequent waves incorrectly. Therefore, to avoid Elliott wave count errors, one must make sure one correctly identifies the first Elliott wave.

Bullish Irregular First Wave

The bullish irregular first Elliott wave often occurs after the IPO (Initial Public Offering). As a company is listed for the first time, the price often rises for a while before declining all the way to the 138.2% Fibonacci extensions reverse of the initial bullish move. (remember the word reverse or upside down). From that level, the price will begin a new rise that forms the bullish irregular first Elliott wave.

See chart (coming soon)

Sometimes, from the day one, the price will decline for a while until it found a support (without going up first). After that, the irregular bullish first Elliott wave will start, and it will rise above the initial offering price level.

See chart (coming soon)

Bearish Irregular First Wave

Similarly to the bullish one, the irregular bearish first wave begins after an IPO.
However, this time, the price starts to decline right away until it reaches a level where it turns bullish, and rises to the 138.2% Fibonacci extensions reverse (attention to the word reverse) of the initial bearish price-action. The next price-
action is usually the irregular first  bearish Elliott wave.

See chart (coming soon)

On other occasions, right from the get go, (Initial Public Offering price) the financial instrument will rise for a while then reverse to form the first irregular bearish wave.

See chart (coming soon)

Number One Characteristic Of
Irregular First Elliott Wave

The irregular first Elliott waves are regularly extended. One will easily spot
their internal waves (quite often).
The extensions are normal due to the rise in the bullish momentum
after the initial bearish trap (case of the irregular bullish 1st wave) or after the initial bullish trap (case of the irregular bearish first wave). Most irregular first waves are extended 1st waves. That is the number one characteristic of the irregular first Elliott waves.

Investing Strategies Using
Irregular First Elliott Wave

An agile (eagle eyes) investors (smart investors) that combine the Elliott wave theory and fundamentals can buy and hold a fundamentally viable financial instrument (stocks, currencies or commodities) at the early stage of the irregular first bullish Elliott wave.

The investing strategy is to determine whether the asset has a brighter future
(both fundamentally and technically) in a healthy financial market, and use the irregular first bullish Elliott wave to time the investment. That investing strategy which relies on the fundamentals and irregular first bullish Elliott wave will perform better if one is using it in conjunction with the IPO (Initial Public Offering).

The first step is to analyse the price structures of newly listed companies
in the first two years. And if one spots the start of the irregular first bullish Elliott wave, one will perform a thorough due diligence before timing the investing with the Elliott wave theory (irregular first Elliott wave).

Irregular First Elliott Wave Test

1/ What is the number characteristic of the irregular first Elliott wave?
2/ Describe in few words how the irregular first bullish Elliott wave does form?
3/ Describe in few words how the irregular first bearish Elliott wave does form?
4/ Explain more why the irregular first Elliott waves often extend?
5/ What is an extended Elliott wave?
6/ Which Fibonacci extensions level, one should use when dealing with the irregular first Elliot wave?
7/ What is an irregular first Elliott wave?
8/ Describe an investing strategy that uses the irregular bullish first Elliott wave?
9/ What is an IPO?
10/ What is an Initial Public Offering?
11/ What is a bullish trap for a bullish technical trader?
12/ what is a bearish trap for a bearish technical trader?
13/ Name few characteristics of a normal first Elliott wave according to our Elliott wave count guidelines.
14/ What is Fibonacci extensions reverse?
15/ Explain why the 138.2% Fibonacci extensions often act as a viable support or resistance level as explained at dayprotraders.com website?
16/ What is an internal Elliott wave?
17/ Why is it essential to get the first Elliott wave correctly?
18/ What is likely to happen if one does not get the first wave right?
19/ Why Elliott waves do extend?
20/ The irregular first Elliott wave can occur other times apart from what has been discussed so far. Yes or Yes?
21/ Can the irregular first Elliott wave fail?
22/ What should one do if the irregular first Elliott wave fail?
23/ The next step after learning about the irregular first Elliott wave is to practice until one masters the topic (to gain more experience and skills) before going live. Yes or Yes
24/ Are you a subscriber to 24elliottwaves.com or 24Elliottwaves YouTube channel?
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