How to become the Master in Wave Counting and Calculations

 I could find some rules with my experience that can be applied to any charts to improve your wave count.
Timefarme:  If you talk to any Elliot wave trader then they will say there is no impact of time frame but I will say TIME FRAME is the key. I have list out some rules for wave count based on time frame
  • First find the Elliot wave formation at the highest time frame.
  • Suppose you find a Elliot wave on daily chart then go to weekly chart.
  • We need to find the sub waves in one level down the time frame. It means if the highest time frame is daily then sub waves will be counted in hourly or 15 mint based on market working hours.
  • If the Elliot wave 1 and 2 are done in higher time frame then always apply fibbo in higher time frame otherwise you always make a mistake why? because if a higher time frame wave will be slightly extended then sub wave 3 and 5 will be super extended and  you targets always be wrong. I can give you many examples of this but I will share the Silver chat where I experience this and learned.


 Silver Weekly Chart. see the 3rd wave.

It is extended but not much. Now see the sub waves of weekly 3rd wave. Following is the daily chart:


It is easily visible that if we are not aware weekly Elliot wave then either we could have gone out of the move or may be try to short at 2.618 and need to book huge loss.

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