Robert Miner – Practical Elliott Wave Trading Strategies

This is the first in a series of how to apply Elliott wave analysis for practical trading strategies. There is a background to my Dynamic Trading book for all subscribers. Because the book goes through the pattern structures in detail, there is no need to repeat that information in this series. It is assumed that subscribers are familiar with Chapter 3 of Dynamic Trading and how the most frequent pattern subdivides. The aim of the series is to teach you the practical application of Elliott wave trading strategies, as well as to debunk some of the myths and bad practices fostered by the academics of the wave. Everything taught in this series will apply to any actively traded market, including futures, stocks, index and mutual funds. You should be familiar with the concepts from your study of the Elliott wave in Dynamic Trading. The trend usually unfolds in five waves. The impulse trends are usually made in the direction of the larger trend. The counter-trend usually unfolds in three waves. A counter-trend is a correction. Waves of Similar Degree are swings of the same degree. The subdivisions that make up a completed structure are represented by waves of similar degree. Waves one-five are the waves of the same degree. Waves of a smaller degree are subdivisions. Waves may be sub-divided into smaller degree waves to complete the structure of the wave. Wave-1 of a five- wave impulse trend usually splits into five smaller waves.