The
Elliott
X-Wave
It
is almost impossible to become fluent in complex
Elliott
wave analysis if one does grasp the Elliott
X-Wave.
The Elliott
X-wave
is also an essential
component
of the Elliott wave combinations. One
example of Elliott combinations is
Usually,
the
Elliott
X-wave
connects the following:
a
flat corrective
wave and
zigzag pattern;
a
zigzag pattern
and
ABCDE
Elliott wave triangle;
Elliott
wave flat
correction
and
wave
triangle
pattern,
and
two zigzag patterns (double zigzag) or three zigzag (triple
zigzag).
In
those
instances,
the Elliott
X-wave
is a connecting wave (connector)
because it binds or
connects
two
corrective Elliott
waves.
The
Root Of The Elliott
X-wave
The
Elliott
wave cycle is formed of a
motive wave and corrective phase. However, the
corrective
phase can extend beyond expectations. And in those instances, instead
of a
normal
flat, zigzag or triangle corrective
wave pattern,
the corrective phase often turns
into
a combination of different types of corrective waves
or
Elliott wave combinations.
Indeed,
many traders who are expecting a new trend at the end of a normal
zigzag, flat
or
triangle wave
pattern are
the first buyers.
Nevertheless,
it is not guaranteed that the new trend will continue. In many
instances
where
the new trend stalls, it generates the Elliott
X-Wave
that is ultimately the failure of a new trend.
That failure will subsequently lead to a new correction that corrects
the Elliott
X-wave.
Furthermore,
at the end of the new correction, other buyers will attempt to catch
the new
expected
trend, but that also fails, engendering
a second Elliott
X-wave.
In fact that process can
create
a double or triple zigzag patterns (or any other Elliott wave
combinations).
The
Elliott wave combinations are complex Elliott wave patterns
or multiple corrective waves
that are linked to one and another by the Elliott
X-WAVE.
In practical Elliott wave trading,
it
is quite challenging to decipher a complex Elliott wave count or
analysis if one is not fluent
in
mastering
the Elliott
X-wave.
