Elliott Wave Glossary Third of Third (3rd of 3rd Wave)
The 3rd sub-wave within wave 3 of an impulse. Tends to be the strongest and largest price movement — the most sought-after trading opportunity for Elliotticians.
Concept
Elliott Wave Glossary Elliott Wave Glossary Failure (Truncation)
A phenomenon where wave 5 of an impulse fails to exceed the end of wave 3. Also called truncation. Usually occurs after an exceptionally strong wave 3.
Elliott Wave Glossary Extension in Corrective Waves
Extension-like phenomena also appear in corrective waves: triangles can develop 9 sub-waves, and double/triple zigzags extend the price correction.
Elliott Wave Glossary Wave Degree
The concept of wave hierarchy in Elliott Wave Theory — classifying waves by their relative size. From smallest to largest: Sub-Minuette, Minuette, Minute, Minor, Intermediate, Primary, Cycle, Supercyc
Elliott Wave Glossary Scenario Construction Procedure (Corrective Wave after Wave (1))
Elliott Wave Theory is an extension and refinement of Dow Theory. Dow Theory's primary trend, secondary reactions, and minor trends correspond to Elliott's degrees of waves.
Elliott Wave Glossary Scenario Construction Procedure (After Wave (5) / Wave ① Completion)
A long economic cycle of approximately 50–60 years, identified by Russian economist Nikolai Kondratiev. Corresponds to the Supercycle degree in Elliott Wave Theory.