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Start with the Weekly or Daily chart. Identify the larger-degree trend.
He opened the file one last time to add a final note at the bottom of the introduction: Applying Elliott Wave Theory Profitably Pdf
Rules & Guidelines (hard rules vs. guidelines) Start with the Weekly or Daily chart
5 waves up complete, price makes a new high, but RSI or MACD fails to confirm. Entry: On bearish reversal candle after divergence. Stop: Above wave 5 high. Target: Start of wave 4 (first profit), then 61.8% retrace of wave 5 (full target). price makes a new high