Simple EW rules 1-- Market either does 5 waves or abc (3 waves)
2 -- 2 waves will be similar in size so if 2 waves small 1 wave is large or if 2 waves large 1 will be small.
3 -- In 5 waves wave 3 is usually the longest and is 1.6 to 2.0 the size of wave 1. IF wave 1 is large then wave 3 will .666 of wave 1 this is called a hard wave 1. IF wave 2 retraces most of wave 1 wave 3 will be large and normal 1.6 to 2.0 size this is a hard wave 2.
4 -- after an abc the market usually does 5 waves to keep the current trend intact. It can do 5 waves also. Assume the longer term trend will stay intact.
5 -- abc rules - the A wave will normally be fast large and violent to catch traders by surprise. The B sucker wave will usually be .50 to .66 of A. The c wave will be similar to a in size and be choppy and time consuming. Sometimes a=b=c equal in size.
6 -measure previous moves to determine size of next move
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