# 13 elliott wave patterns pdf

The Elliott wave theory is a technical analysis trading method based on price moves. Its purpose is to improve market analysis and trade timing; these two elements are vital for trade development and approach. Although there are many resources regarding Elliot waves, today I will give you a 13 Elliott wave patterns pdf book which will help you understand Elliott wave theory properly.

## 13 elliott wave patterns pdf

### 1. Impulsive pattern

Number 1,2,3,4,5 are all impulses. Waves 1,3,5 are impulsive moves, and the length of these 3 will be almost the same.

### 2. Corrective patterns

Labels 2 and 4 are corrective patterns. Remember wave 2 will not be longer than wave 1, and wave 4 will not overlap wave 1.

### 3. Extension patterns

In the impulsive pattern, extended pattern forms. For example, in the extension pattern, 1,3,5 waves will be extended. In most cases, this extension happens in the third wave.

When first wave extensions, then we will name it extension1.

When third wave extends then we will call it extension3

And when fish wave extends, then we will call it extension5

### 4. Diagonal triangle type 1

Diagonals are one kind of impulsive pattern. Unfortunately, traders sometimes confuse these patterns with corrective triangles.

### 5. Diagonal triangle type 2

The core difference between diagonal triangle type 1 and diagonal triangle type 2 is waves 1,3,5 have an internal structure of five waves in type 2. But in type 1, waves 1,3,5 have an internal structure of three waves. This pattern is rare and hardly occurs in a currency pair in any particular period.

### 6. Failure or truncated 5th pattern

This is one kind of impulsive pattern. The main feature of this pattern is that the fifth wave will not exceed the third wave. And as the fifth wave fails to exceed the third wave, its name is the failure pattern.

When this pattern happens, pay close attention to the market. This pattern indicates that the existing trend is weak now, and the market will show acceleration in the opposite direction.

### 7. Zigzag patterns

Zigzag is one kind of corrective pattern. So when we see any zigzag pattern in our chart, we can assume that any sharp reversal is coming.

### 8. Flat pattern

In corrective patterns, flat shape is prevalent. We will observe this pattern in a sideways market where A and B are both corrective patterns and C are impulsive.

### 9. Expanded flat pattern

An expanded flat is an expanded form of a regular flat pattern. Here wave B extends, and the robustness of B proves that the market wants to go in the direction of B.

### 10. Contracting triangle

This is a corrective pattern. A contracting triangle is composed of five waves. In a contracting triangle, wave 1 is the longest wave, and wave 5 is the shortest.

### 11. Expanding triangle

There are three kinds of expanded triangle patterns. Ascending triangle, descending triangle, running triangle.

### WXY or combination pattern

Combination patterns are formed by combining different wave patterns. Like here, zigzag, flat, triangle patterns combine themselves and form a combination pattern. This pattern is observed mainly in a choppy market, and if you read this Elliott wave made easy pdf, you will easily detect this type of complex pattern.

### 13.How to draw elliott wave-X wave pattern

Usually, this type of pattern is formed in a more complex way. This is a corrective wave and forms in many ways like zigzag, double zigzag, flat, expanded flat, and a combination of a triangle pattern.

## Elliott wave theory

In Elliott Wave Theory, the two types of waves in price movement are called “trend” or “impulse” waves and “consolidation” or “corrective” waves.

Traders usually make decisions based on the direction of impulse waves which indicates the big picture or what we consider the broader trend direction. They also use it to look for the best price levels where a trend might turn after making corrective waves, a temporary counter-trend.

## History on Elliott Wave Theory

R.N Elliot developed the Elliott Wave theory analysis in 1926. Elliott discovered that financial markets tend to move in repetitive zigzag movements on one trading day. He called these movements impulsive and corrective waves because the peak high and lows presented themselves in a cycle or diagonal zigzag movement.

## How to catch Elliott waves’ starting points?

The Elliott wave is nothing but a chart pattern. In any chart pattern, it is impossible to know when a trend starts and when it will close. When a pattern is on the chart, any analyst can detect it. There is no difference in the Elliott wave. But considering the broad market scenario, you can only guess when a wave is about to start.

The more you practice Elliott wave patterns in a demo account, the more perfect you will be at analyzing a wave pattern. So go and open your mt4 account. Analyze the past years’ data. And you will observe that after ending any trend, whether an uptrend or downtrend, Elliott wave patterns start to form. So if you want to trade successfully with Elliott patterns, then eye on the stop point of any strong trend. At the beginning of my content, I shared the concise Elliott wave rules and guidelines pdf, which will help you enter any trade from starting point.

## Know more about 13 Elliott wave patterns pdf

This pdf will give you a unique and optimised strategy for approaching the markets when looking for potential Elliot wave patterns. In the times of Mr. RN Elliott, technology was still in its infancy. Therefore, there were not as many tools that a trader could use to help make things easier, however thanks to technological advancement, you have tools like the ELLIOT WAVE INDICATOR, using it and other technical analysis tools such as the Elliot wave count Indicator, which top programmers developed, it will further increase your chances of finding profitable trades, the trading strategy comprises of a mixture of other indicators programmed especially to work in line with the Elliot wave theory, indicators such as the Elliott wave Oscillator, The purpose of this oscillator is to help you predict peaks so that you enter the market at best possible price levels.

## Elliott wave principle Robert Prechter pdf

Another great medium of learning how to analyse the Elliott wave theory is “Elliott Wave Principle by Robert Prechter pdf” in this pdf; the concept is deeply explained to give you the little details that other Elliott wave traders can easily ignore. This will give you an upper hand in implementing the strategy and hopefully shorten your learning curve because the more specialised information you consume, the easier it will be to grasp the critical components of the strategy.

## Elliott-wave-oscillator

We can take advantage of other mechanisms as Elliott wave theory traders. Not so many strategies have an in-built indicator, such as the built-in MT4 Elliott wave count indicator. That is further proof that the Elliot wave theory is a tangible and efficient way to analyze the markets. Below I will attach a custom indicator. Just download that indicator and trade using that custom Elliott-wave-oscillator.

## Elliott wave theory, one of the best ways to analyse price action.

This is a topic that has eluded many traders, price action analysis, there aren’t many technical analysis strategies that explain and illustrate market behaviour as thorough as the Elliott Wave Theory, what makes it unique is it’s consistency in pattern recognition and trade and this makes it one of the best tool.

## Impulsive and corrective price structures

Trends have a tendency to move in fractals of three, Elliot discovered this phenomenon of repetitive price behavior and coined this behavior Impulsive moves because of their nature of sustaining a bullish or bearish run over a long period. He analyzed that even within the impulsive moves, the same type of structure would occur only on a minute scale and concerning corrective price patterns.

## Perks of using indicators

Indicators are subjective. Some people prefer them, and some don’t care for various reasons, but generally, indicators are subject to how much you understand the function of the indicator. For example, the next picture illustrates a custom indicator that doesn’t come with the MT4 and MT5 trading platforms.

## mt4 elliott wave count indicator

The Elliott-wave-oscillator is a fantastic oscillator. And the 13 elliott wave patterns pdf that I gave you earlier is a complete guideline of how patterns happen. Now I will share a free indicator, and using that indicator; you can easily catch your trades from the starting point.

## Elliott wave pattern trading strategy

Looking at the green bullish part of the oscillator, once it reaches its high, it starts dropping. This shows that the market is starting to lose bullish strength, and once you use that reasoning, you know that once wave 5 is reached, then you will start looking for a sell entry because a corrective move is imminent.

Many novice traders make mistakes by entering trades so early. Like they enter when pattern 3 is completed! But that’s the wrong approach. You have to wait until the Elliott wave completes pattern 5 . look at the picture I attached above. When you enter the trade from point 5, then the probability of your winning will be increased.

Download this awesome Elliott wave indicator from here and apply it to your mt4 or mt5 platform. For applying to your platform, you need to

• >>>Then unzip the file, and you will get an indicator.
• >>>Open your mt4 or mt5 account
• >>>Click on file section
• >>>Then open data folder
• >>>Then click on the mql4 folder
• >>>There, you will get an indicator folder.
• >>>Just open it and paste your Elliott-wave-oscillator

## Conclusion

There is no 100% strategy, so even when you are confident that you have made an accurate analysis, never forget to use a stop loss as it can save you from taking critical losses. I hope the 13 elliott wave patterns pdf I shared here and the strategy I showed will help you better your analysis of markets and hopefully make you a better trader.

## FAQ

### Q.What happens after a corrective wave?

A. After a corrective wave, an impulsive wave will start forming.

### Q. How do I identify my Elliott wave pattern?

A. By identifying the highs and lows of the Impulsive or Corrective move.

### Q. What happens after an ABC Correction?

A. A new trend will either begin, or there will be a short-term impulsive wave then a corrective continuation of a trend.