@desmond99988(HC wouldn't let me quote)Really practice is all...

@desmond99988

(HC wouldn't let me quote)

Really practice is all you need, but a few very specific things I try to keep in mind when I'm either lost or starting a new count is:

1) Spot any bullish impulse, they'll be massive and clearly identifiable. And you can confirm them via applying the rule of alternation to the internal waves of 2 and 4.

2) Spot a triangle. Considering the guidelines, they should be followed by the final motive wave of whatever wave it's inside of. If the triangle appears in the middle of noise, check for it being the X wave in a combo or an internal triangle of a larger triangle (generally wave C of a triangle).

3) Spot a motive impulse that is against the major trend, as in, spot an impulse going down in a bulltrend. Because then you have few possibilities to expand upon, it's either wave A or C of a zigzag, wave C of a flat, or if it's large enough compared to a previous impulse you can safely assume that impulse is over. If you identify it's an internal wave of a wave 2 of an impulse, you've got a few implications and probabilities to work with, e.g. wave 4 should manifest differently (always be prepared for what appears to be a wave 1 & 2 to actually be an A & B of a zigzag. You can be in a combo for aaaaages and not realise). Continuing with combos...

4) The hardest part of EW is combos for sure. If you come across a wide range of choppy price action (assuming it's complete and you're counting in the past), count from the end 3 distinct waves, then find the next 3, then the next and so on if it's a double combo. Here's an example of a recent combo on the cryptocurrency Chainlink (LINK).



But really there are no tricks to EW, it's just practice. The other advice I have is in regards to trading it, and that is to always look for alternative counts and find price points that would invalidate alternatives. E.g. You have waves A/1, 2/B, C/3, counted, if it price then moves into price action of wave 1 you know it's ABC, if it moves above C you know it's actually 123, and now 4.

Also click on the third link in my signature and scroll to the bottom for book recommendations, if you haven't read Elliott Wave Principle then you definitely need to. The other book is about trading them, invalidations and likelihoods, etc.

I'm going to put a contact link in that blog thing (3rd signature link) today maybe. Also thanks for making me think about this might put it on the blog.