#3 | Impulsive wave VS corrective wave

Don't say you've been in the financial markets for more than a year and you still can't differentiate between these two waves!!!


Let me remind you again...

YOU WON'T BE A PROFESSIONAL ANALYST IF YOU CAN'T UNDERSTAND THE STRUCTURE OF WAVES YOU ARE LOOKING AT.


I'll assume you're familiar with Elliott waves and Dow theory, so I won't go into detail about the difference between an impulsive wave and a correction.

Instead of that...

There are too many types of waves... But, you're good to go if you can understand only these 7 waves.

Impulsive waves

• 12345 (Rare)
  
• WXYXZ
  
• WXY
  

Corrective waves
It may come as an ABC wave or an ABCDE. But, 99% of the time, it will give you one of these basic flag pattern.

• Regular
  
• Running
  
• Expanding
  
• Contracting
  

I will explain each of those patterns in detail if I see likes...
Comment below. Which one should we start with? corrective or impulsive waves?