elliott wave principle - cmt association wave truncation alternation ... in the 1930s, r.n. elliott...

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MTA Webinar

Presenter:Mr Ashish Kyal (CMT) Ashish Kyal is the Founder / Director of Waves Strategy Advisors

Pvt. Ltd.

He is a Chartered Market Technician. He has extensively written for Global assets including Equities, Bonds, Agro Commodities, Metals, Alternative Energy, across multiple time frames

He has worked for leading investment banks like Lehman Brothers / Nomura Holdings

He is a frequent speaker on Business Channels like CNBC TV18 and Zee Business. He has also been a guest speaker at host of management colleges and frequently speaks at financial seminars

Waves Strategy Advisors

Topics BASIC PATTERN EXTENSIONS 5TH WAVE TRUNCATION ALTERNATION WAVE EQUALITY CHANNELING

PRICE & TIME CONFIRMATION

DAIGONAL CORRECTIVE WAVES

• ZIGZAG • FLAT • TRIANGLES • COMBINATION

WAVE CHARACTERISTICS RATIO ANALYSIS

Waves Strategy Advisors www.wavesstrategy.com

History In the 1930s, R.N. Elliott discovered that the stock market moves in recurring patterns that he called waves. He formulated the Wave Principle based on these wave patterns

The Fibonacci Series 1,1,2,3,5,8,13,21,34,55,89,144………..

The Golden Ratio 1.618

Fibonacci is used for Retracements & Projections

www.wavesstrategy.com Waves Strategy Advisors

Impulse Pattern It is structured as (5-3-5-

3-5 ) It can be upside or

downside It is labeled as 1-2-3-4-5

Important Rules Wave 2 cannot retrace complete of Wave 1. Advanced

concept suggests wave 2 cannot retrace more than 61.8% of wave 1

Wave 3 cannot be shortest of Waves 1,3 and 5 Wave 4 cannot enter into the territory of Wave 1

Extensions When wave 3 is

extended, then wave 1 and wave 5 tends towards equality

The extended wave itself is 5 waves internally

Wave 4 will normally not retrace more than the central power area of extended wave

Ending Diagonal It is structured as (3-3-3-

3-3) It is similar to Wedge

pattern It can occur in Wave 5

and Wave C Breakout on downside

will retrace complete up move of Wave 5 in ½ or ¼ time

Truncation If wave 5 does not move

above wave 3 then wave 5 is called to be truncated

Wave 5 is internally an

impulse wave

Channeling Technique

Corrections Correction should take more time than preceding

waves. There are three basic types of standard correctives: 1. Zigzag 2. Flat 3. Triangle

ZigZag It is structured as (5-3-5) Wave B will not travel

more than 61.8% of wave A

Wave C should move beyond the end of wave A

Truncation cannot happen in wave C in case of Zigzag

Regular Flat It is structured as (3-3-5) Wave C will most

probably move beyond end of wave A which can be equal to 0.618-1.618 times of Wave A

Wave B should retrace atleast 61.8-100% of wave A

Irregular Flat Wave b should be

between 100% to 161.8% of wave a

If wave b is more than

138.2% of wave a then we might see irregular flat failure pattern

18 Waves Strategy Advisors

Running Flat If wave c does not move

below the start of wave a then it is said to be running flat

Running Flat has very strong post pattern implication

Triangle It is structured as (3-3-3-

3-3) Each segment in triangle

is corrective At least 3 segments

correct more than 50% of previous wave

Triangle can drift upward or downward

Alternation Alternation can occur in following ways: Price: for example - wave 2 = 100 points, wave 4= 50 points

Retracement: for example - wave 2 = 61.8%, wave 4= 38.2%

Complexity: for example - wave 2= complex, wave 4 = simple

Time: for example - wave 2 = 10 days, wave 4 = 5 days Wave 2 and wave 4 will always tend towards alternation

Combination

Double Flat Zigzag + Flat

Flat + Triangle

Double Flat Correction

Triple Combination

Flat + Flat + Triangle

Zigzag+ Flat + Triangle

2 Stage Confirmation 2-4 trendline should be

broken in faster time than wave 5 took to form

Wave 5 should be retraced completely in faster time

2 Stage Confirmation 0 –b trendline should be

broken faster than wave c took to form

Wave c should be retraced completely in faster time

Services offered by Waves Strategy Advisors: Equity / Commodity / Currency research reports that are published on daily

basis before market opens Intraday / Positional advisory on Equity and Commodity Research report and advisory on Currency pairs Global Market forecasting Research on COMEX and LME markets Research on NCDEX Agri products We also provide: Outsourcing Research solutions Fund Management & Portfolio management services Conduct Educational seminars, Class room training, and Distance learning

modules.

Waves Strategy Advisors MTA members can avail a discount of 20% on

subscription of any of our Research reports/ Products To subscribe visit Store page at www.wavesstrategy.com Register on website for daily free newsletters

Waves Strategy Advisors Contact Details: Website: www.wavesstrategy.com Email Id: ashishkyal@wavesstrategy.com helpdesk@wavesstrategy.com Contact Number: +91 22 28831358/+91 9920422202

elliott wave principle - cmt association wave truncation alternation ... in the 1930s, r.n. elliott...

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