14.2 Real Chart Examples – QUIZ

1. Can you find a 5-wave count on a bearish trend as well as a bullish trend? *

Elliott Wave analysis is designed only for bullish markets

Bearish trends only have 3-wave counts

Yes,but only in higher timeframes

Yes

2. What is “truncation” of wave 5? *

Wave 5 extending way beyond its original target

Wave 5 not existing

Wave 5 not extending past the end of Wave 3

Taking a loss on Wave 5

3. What is the impact of truncation if you are trading wave 5? *

Your target is not reached and that lowers your reward

The price extends far ,and you miss out on potentially greater profits

You get extr aprofitsasyou stay in the trade for longer

You miss the start of Wave 5

4. If you cannot see a wave count on a chart, what is the best course? *

Just trade it anyway, that is the point of trading

Be patient for aclearerpictureand consider other different For expairs

Change platform to see if that helps

Change the resolution on your screen

5. What are some good pieces of advice when getting into Elliott wave? *

Practice ,practice and practice some more

Start on Demo or start using an insignificant amount of capital

Be patient and wait for the picture to be clear

All the above

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