Elliott Wave Glossary

The internal structure of each wave in an impulse: waves 1, 3, 5 subdivide into 5 smaller waves (impulse or diagonal); waves 2 and 4 subdivide into 3 smaller waves (any corrective form).

A diagonal is a motive wave with a wedge shape (converging or diverging). Unlike a standard impulse, diagonals allow overlap between waves 1 and 4. They appear as wave 1 (leading) or wave 5/C (ending)

A diagonal that appears as wave 1 of an impulse or wave A of a corrective pattern. Signals the start of a new trend. The 3-3-3-3-3 sub-wave structure is most common.

The Grand Supercycle is the largest degree of Elliott wave observable in market history. Analysis at this degree provides context for multi-decade market trends.