Crypto ETH/MYR with Elliot Wave Impulses

Spot an impulse, 5 sub-waves.

- EW Impulses + Equality
- Alternation within Correction
- Depth of Correction Wave
- Fibs Extension + Retracement

EW Impulse Guidelines ;
(1) Wave 2 cannot retrace the entire wave 1.
(2) Wave 3 can't be the shortest among waves 1, 3 and 5.
(3) Wave 4 can't overlap with the price territory of wave 1.
(4) Wave 5 needs to end with bearish divergence

Fibonacci Ratio Relationship
• Wave 2 is 50%, 38.2%, 23.6%, or 14.6% of wave 1 (Fibs Retracement)
• Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 (Fibs Extension)
• Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50% (Fibs Retracement)
• There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3

Please keep in mind that they are not rules, they may not work out every time.

Credit: elliottwave-forecast dot com