Wave
Elliott Wave Theory glossary · Core Axioms & Motive Wave Rules
Definition
A distinguishable price move—either impulse (trending) or corrective (counter-trend)—that satisfies specific structural rules.
Wave in plain English
A wave is the basic building block of Elliott Wave Theory — one recognizable stretch of price movement that follows the theory's rules. Waves come in two flavors: 'impulse' waves that push in the direction of the main trend, and 'corrective' waves that lean against it, like the market taking a breather. Picture a tide coming in: the water surges forward, then pulls back a little, then surges again — each of those distinct moves is a wave. The whole theory is really just the idea that these waves nest inside bigger waves in repeating, rule-bound patterns.
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