RAC - Charts & Price Action, page-417

You guys are going to have us all trying to understand and predict all these different waves..

So, from what you have posted recently and from what I've read, you can have multiple waves happening at once? Ie, a big long term wave, and short term waves for week to week movements?

From what I could understand from a bit of google searching, it seems like EW theory would work best on a stock or index that will be around for the long term (ie big bank, or ASX200). Investopedia also mentions the 'corrective waves', whereas I haven't picked that up in any comments so far - unless a different term is used?

I was also assuming that when plotting the waves on a spec stock like RAC long term, you ignore the market movers like Covid-19 and significant FA? To do so you'd need to flat line a period on the graph so that it isn't taken into consideration, and then allow SP movement to reflect psychology again... or is that naive to think that is possible?