What is the impulse wave structure?
Quick Answer
Impulse waves are 5-wave patterns (1-2-3-4-5) that move in the direction of the main trend.
Detailed Explanation
Impulse waves are the driving force in Elliott Wave Theory, consisting of five waves labeled 1-2-3-4-5. Waves 1, 3, and 5 move in the trend direction (motive waves), while waves 2 and 4 move against it (corrective waves within the impulse). The impulse structure follows strict rules that help validate wave counts.
Key Points
- 15-wave structure: 1-2-3-4-5
- 2Waves 1, 3, 5 move with trend
- 3Waves 2, 4 are corrections
- 4Wave 3 is never shortest
- 5Wave 4 doesn't overlap Wave 1
Example
In an uptrend: Wave 1 rises, Wave 2 corrects, Wave 3 rallies strongly, Wave 4 corrects, Wave 5 makes final high.
Related Questions
What are the 3 rules of Elliott Wave?
The three inviolable rules: Wave 2 never retraces more than 100% of Wave 1, Wave 3 is never the shortest, and Wave 4 never enters Wave 1 territory.
What are corrective waves in Elliott Wave?
Corrective waves are 3-wave patterns (labeled A-B-C) that move against the main trend direction.
How long is wave 3 in Elliott Wave?
Wave 3 typically extends to 161.8% of Wave 1's length, and is usually the longest and strongest wave.