T/A ETF AND INDEX

[POKERSAM]

h h You are correct. The count is an impossibility.
As I said earlier this demonstrates how strong a bias can be. He has a bullish bias and so he will do anything to support it. He has gone to the point of changing a Cardinal Rule.
There are three Cardinal rules in Elliott Wave. These cannot be broken under any circumstances.
Over the years I have recognized a much longer list of rules but these three are where every Elliottician begins.
I have read others who just could not handle a strict application of EWP. Some have gone so far as to give up on Elliott Wave and make up their own system for counting waves. In effect that is what this individual has done.
Where there are no rules there is chaos.

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.



Guidelines are a different story. They give direction in recognizing what is most common. For example, although wave 1 OR 5 can be longer than 3, the 3 wave is usually the longest.
The 3 wave is at least 1.618% of 1 83% of the time.
These are guidelines not rigid rules.