Count your fingers please. Go ahead please.
Usually, people start with their thumb as one, but that is incorrect. The first finger is that little one next to your wedding ring finger. The fifth one is the thumb. I believe GOD is the father of the wave principle. Alright, you are not sure about that. Okay!
Ralph Elliott who compiled the Elliott principle has tapped into one of the mysteries of GOD. These things sometimes give me sleepless nights. The more I try to understand them the more (knocking that door) I realise that we are not just flesh and blood.
Who are we? That is the question. Alright let's get back to the main topic.Each impulse wave has five mini waves. An impulse wave is like one hand with five fingers. The first, third and fifth minor waves are mini impulse waves on their own. So it is like saying that the first, third and fifth fingers are mini hands on their own. Notice that though the zigzag's A minor wave is subdivided into five mini mirror waves, the flat correction's A minor wave is only subdivided into three. However, the flat correction's C minor wave is subdivided into five minor waves that it (C minor wave) an impulse wave.Generally, five refers to an impulse wave because all impulse wave has five minor waves among which three are impulsive and two non directional (corrective waves).The second and fourth waves are corrective waves. So an impulse wave always has three impulse minor waves and two corrective minor waves.Consequently, the structure of an impulse is(5, 3, 5, 3, 5). Here 5 represents an impulse wave and three the corrective waves. Do not worry. If you have any questions, just post it at 24Elliottwaves YouTube channel and be patient. I always read all comments. In due course, I may write another article or post a relevant video.No rush please. Sometimes, traders think, I have forgotten; may be, but I note everything down.Just for fun. What is the longest finger?That is correct. It is the middle finger.Well, according to the Elliott wave rules, the third Elliott wave should not be the shortest impulse wave (in comparison to 1st and 3rd waves). Usually (not always), the third wave is the longest impulse wave like the middle finger of a hand.By the way have you ever heard someone saying: this is getting a bit out hand?
Something that is getting out of hand is that which is getting a bit tricky to control, manage or handle. Similarly, when the trend is in the fifth wave is a little bit like getting out of hand, therefore a correction is needed.
The last wave of all impulse wave is the fifth wave. Even mini mini mini mini impulse wave ends in fifth wave.
All impulse wave are followed by a corrective wave.
Something that is getting out of hand must be addressed or corrected. Right?
I am not sure if you are ready for all that I am sharing here or not.
May be you are. Just take it one step at time and you will be alright.
Take a look at your thumb please. Go ahead please.
As I said before, it is the fifth finger. Right? Does it seem like the one that is out of hand or separated from the other four fingers?
Well, I am just trying to understand more or wondering.
As you can see, though the question about how many waves in Elliott wave theory seems trivial at face value, it opens a door that leads to another door that I knock and oops that also leads to another door.
Now, you understand why those questions and the willingness to understand more often give me sleepless nights.
What I have found is when the SP-500 is in the monthly fifth wave, one must pray so that God protects and have mercy on us the stupids.
Recently, I wonder if there is a correlation between the monthly SP 500 fifth wave and all the events that cause the recent markets decline in 2020.