Steps

How to use Elliott Study effectively

By Sameer Dharaskar 1
 Step 1 :- Identify Major Trend

Major Trend is Up
So, every bounce is Bull Rally (Impulse)
And every fall is Corrective Wave
By Sameer Dharaskar 2
Step 2 :- Identify Current and Next wave

Current wave is Impulse (Bull Rally)

So, Next wave (fall) will be Corrective Wave
By Sameer Dharaskar 3
Step 3 :- Now select proper technique to trade on next wave,
according to wave type (Impulse or Corrective wave)

Next Wave : Impulse Next Wave : Corrective wave

Be Ready for Rally Uncertain market

Use Use
Delivery Stock Options Technique
& OR
Rally Jackpot Technique Intraday Technique
OR
Avoid Option Writing Technique
Intraday
& Avoid
Option Writing Delivery & Rally Jackpot

By Sameer Dharaskar 4
Step 4 :- Identify Possible reversal points & targets for next
wave i.e. Impulse or Corrective wave

Current wave : Corrective Current wave : Impulse

Next Wave : Impulse Next Wave : Corrective

Identify Reversal Identify Reversal

using Using
Corrective Patterns Higher / Lower Close
Fibonacci Retracement
Higher / Lower Close Calculate targets
using
Calculate targets Fibonacci Retracement
using Channeling
Fibonacci Extension
Channeling

By Sameer Dharaskar 5
 Step 5 :-

Elliott wave study also helps you to identify

Major Trend Reversal signals
when previous wave is completely retraced in less days

Accordingly Impulse & Corrective wave direction will change

By Sameer Dharaskar 6
Main use of Elliott wave study in our Option Trading :

1. Identify Major Trend

2. Identify Current and Next wave
3. Now select proper technique to trade on next wave,
according to wave type (Impulse or Corrective wave)
4. Identify Possible reversal points & targets for next wave
i.e. Impulse or Corrective wave
5. Elliott wave study also helps you to identify Major Trend
Reversal signals

By Sameer Dharaskar 7