We have finished the section that covers the Intermediate Level of the Elliott Wave Analysis based on the work of Glenn Neely. These concepts are described and include the following aspects.
1.-Â Introduction to Intermediate Wave Analysis. In this section, we present the concept of grouping waves and how to apply them in the real market.
2.- Motive Waves Analysis. This section, divided into three parts covers the following aspects:
– The first part presents the extension concept and its application in the real market.
– The second part extends the concepts of Alternation, Equality, and Superposition, and we identified how the price action follows these rules.
– The third part presents the canalization process.
3.- Corrective Waves Analysis. This part unfolded in five parts, includes the following concepts:
– The first part reviews the rules of construction of corrective formations and the flat pattern, including its variations.
– The second part presents how to analyze the zigzag pattern and its variations.
– The third part exposes the characteristics and rules of the triangle pattern.
– The fourth part discusses the contracting triangle, including its variations, rules, and target zones.
– The fifth part dedicated to expanding triangles presents its variations and rules.
4.- Validation Rules. This two-part section exposes the next principles:
– In the first part, we learn how to validate impulsive waves.
– The second part shows how to validate corrective waves.
5.- Simplification of Wave Analysis. This last section illustrates how the compaction process can help the wave analyst to ease its analysis.
