Guide to Preliminary Elliott Wave Analysis

We have completed the section that covers the preliminary concepts of the Elliott Wave Analysis described by Glenn Neely. These concepts are explained and include the following aspects.

1. Introduction to wave analysis. In this section, we introduce the concept of Wave Theory, the benefit of its study, and its pros and cons.
2. Basic concepts of wave analysis. This section presents the key concepts to understand the wave analysis process.
3. How to start a wave analysis. In this four-part section, we unfold the essential steps to understand the nature of price movements.
   1. Waves identification.
   2. The concept of directional and non-directional movement.
   3. How to identify the end of a movement.
   4. Waves observation and identification.
4. How to use retracements to analyze waves. This section, divided into five parts, exposes the use of Fibonacci retracement to discover what kind of Elliott wave movement is in progress.
   1. First Rule. This section presents what occurs when the second wave (W2) retraces less than 38.2% of the first wave (W1).
   2. Second Rule. This section exposes the scenarios when W2 retraces between 38.2% and 61.8% of W1.
   3. Third Rule. This article unveils what kind of pattern is in progress when W2 retraces 61.8% of W1.
   4. Fourth Rule. This article unveils the potential kind of Elliott wave patterns when W2 retraces between 61.8% and 100% of W1.
   5. Rules Fifth to Seventh. In this article, we present what occurs when W2 exceeds over 100% of W1.

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