This is what gives the whole impulsive move validity. They need to alternate in such a way that they respect the rules stated above, while price and time should vary based on a Fibonacci internal ratio. Alternation Between the Non-Extended WavesĪs was the case in the third- and first-wave extensions, the key for the whole move lies in the non-extended waves. However, even after the fact, a fifth-wave extension can provide a very good set-up for profitable trades.
The second and the fourth waves are corrective.In a five-wave structure, the first, third and fifth waves are impulsive waves in their own right.Things to Consider in a Fifth-Wave Extension Impulsive MoveĮven though this impulsive move looks unfamiliar and strange, all the basic rules of an impulsive wave, as described here in previous articles in our Forex Trading Academy, must be respected, as follows:
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