Mastering Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises

How to Label a Specific Price Pivot

The substructure within a larger pattern, like the gray boxes drawn within wave ‘3’ of Figure 2.3, is the internal building blocks of the bigger picture. If the big picture has reserved the numbers 1, 2, 3, 4, and 5 to map the developing five-wave pattern, how do you name the other pivots without repeating the same numbers? As an example, the first box in Figure 2.3 was identified as wave ‘1’ when it was completed. I cannot use ‘1’ again without causing confusion. To keep all these building blocks identified correctly each subset will need a unique name.

We do not repeat the numbers 1, 2, 3, 4, and 5 again. For smaller internal waves use lower case roman numerals: i, ii, iii, iv, and v. But if I just referenced ...