DislikedYes, it is a kind of divergence, we talked about this several times during the past few weeks. Mainly occures before the last wave down in the trend direction on a given TF.
EWT counting: many ways but in general, you should heve a pic on the higher degrees first, then, going down for your trading TF. Regarding the latter one possible scenario is on the pic below.
foxybunny, to make it short EWT requires a lot of time, until you get sufficient experience. It is even possible to give up after a few months. But if you get beyond this phase,...Ignored
Thanks Sunbrella for your explanation.
I will look through your more recent posts to see what you discussed about the divergence.
I have read through some books (Robert Prechter main one) and attended some professional courses on Elliott Wave.
Still I find it hard to see and count where is the real Wave-1, so did not pursue much further.
Some professional traders have told me same key point as you in that to hunt only in Wave-3 and Wave-C, and only wait for them.
They are able to see the EW in large timeframe as well as small timeframe to M1.
Any more resources you can recommend to learn EWT in a better explanatory visual manner ?
Are you able to share the EW indicator you have show on your chart ?