Elliot Waves Complete Guide | Chapter 2.1 - "Motive Waves"

Hello Traders. I hope you enjoyed chapter 1 and studied hard. If you are having a hard time understanding chapter 2, please go back to chapter 1 and study that chapter first.

Chapter 2 - Motive Waves:
2.1 Impulse, Leading Diagonal
2.2 Ending Diagonal, Truncation
2.4 Extension, Fifth Wave Extensions

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2.1 Impulse, Leading Diagonal:

Impulse Wave
As previously discussed in chapter 1, 'Motive Waves' are subdivided into five waves. These five waves always move in the same direction of the current trend by degrees. The countertrend of wave 2 never moves beyond the beginning of wave 1 and wave 4 moves never beyond the beginning of wave 3. The impulse wave is one of the most common of wave types. In the impulse, wave 4 never overlaps with the high of wave 1. Waves 1,2,5 are themselves are what is called "motive." Also, wave 3 is NEVER the shortest wave and always an impulse

Leading Diagonal
The leading diagonal is also considered a motive wave, but not an impulse. It is a subcategory of a motive wave because it also has corrective characteristics. Wave 4 overlaps with the top of wave 1 and can be the wave 1 of an impulse or a Wave A of an ABC correction. It's structure can be seen as: 3-3,3,3,3 or 5,3,5,3,5. For the leading diagonal, wave 4 overlaps with wave 1 and has a smaller retracement than our wave 2 as shown above. It is usually followed by a wave 2 in a motive wave or by a B wave in an ABC correction.

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Elliot Waves Complete Guide | Chapter 1 - "The Overall Cycle"