Sir how to find out a wave is impulsive as its little tricky find an impulse wave. Where it seems to be impulsive on a daily chart it can be corrective on a 60 mins chart. And since i cant look into 60 mins charts of stocks for a detailed way Same problem is from a long term perspective if i consider an upmove to be violent but if i zoom in it looks rather corrective. What should i consider as impulse? for example HDFC can i consider these counts? because in a zoomed in way its more like corrections everywhere.
Hi Aniket, I understand but for evaluating such big moves you can also look at log scale. In above chart you if the internal counts are corrective than you cannot count them as impulsive. As per Elliott wave there are not many rules for Impulsive structure so it is allowed but if you apply Neo wave there are more than 15 rules to define impulse pattern.
Sir i get that 15 rules of impulse but more the rules more would be the possibility of a rule not being followed making it corrective so every and the log scale makes the whole count more like a running triangle similar to nifty. And for the long count is it OK to consider weekly candles or that should be daily too? Because of the same reason 99% goes corrective because even if 1 out 15 rules are not followed then its corrective