Base Channel
Elliott Wave Theory glossary · Rule Of Alternation & Channeling Guidelines
Definition
Trend channel drawn through the start of Wave 1 and end of Wave 2, parallel to a line touching Wave 1. Projects Wave 3 targets.
Base Channel in plain English
A base channel is an early pair of guide-rails, drawn before the trend has fully unfolded, to estimate how far the strong third wave might run. You connect the very start of Wave 1 to the end of Wave 2, then draw a parallel line touching the peak of Wave 1 — those two lines form the channel. It's like sketching the walls of a bowling lane after just the first roll, so you can predict where the ball is headed. Wave 3 is often the biggest, most powerful move, so having even a rough target for it early is valuable.
Learn these first
Related Elliott Wave Theory terms
Elliott Wave Theory practice questions · Elliott Wave Theory flashcards · Elliott Wave Theory study guide