DislikedThe ability to identify the ongoing trend is useless without the ability to recognize its components: the impulse and corrective waves ...Ignored
The 1st impulse wave of a trend begins when the market breaks its last formed support/resistance.
During a trending market, the impulse and corrective waves happen alternately (impulse - corrective - impulse - ...)
When a change of trend happens, there will be two consecutive opposing impulse waves (... impulse - impulse ...)
Market is not random but unpredictable