Practice & Study

Exercises, checklists and study routines to master elliott wave analysis and market rhythm.

Overview

This chapter gives you practical drills, checklists and a study routine to build the geometric eye required for reliable elliott wave analysis. Repetition + disciplined journaling = the fastest path to proficiency.

Exercises & Drills

Exercise 1 — Impulse Identification

Find a clear trending chart (BTCUSD, S&P, EURUSD). Label 1–2–3–4–5 on your chosen degree. Verify the three rules and document alternates.

Exercise 2 — Corrective Classification

Identify an A–B–C correction and classify it as Zigzag, Flat, Expanded Flat or Triangle. Draw boxes and measure retracement ratios.

Exercise 3 — Box Proportion Practice

Draw the same-size boxes around impulse moves and compare Wave 1, 3 and 5. Note when symmetry holds and when it breaks.

Exercise 4 — Divergence Detection

Overlay RSI or MACD and mark divergence between Wave 3 and 5. Track how price reacts after divergence appears.

Checklists & Journaling

Keep a short Elliott Wave journal for each analysis:

  • Date, ticker, timeframe, degree selected
  • Primary count + alternate count
  • Invalidation level & rationale
  • Fibonacci targets & risk plan
  • Outcome & lessons (update after trade/observation)

Recommended Study Routine

A weekly routine that scales with time:

  1. Daily: 30 minutes — label one chart at chosen degree.
  2. Weekly: 2 hours — full review across timeframes; update journal.
  3. Monthly: 1 session — review mistakes, update personal cheat-sheet.

Self-Assessment Tests

Try timed quizzes: label a chart in 10 minutes; then compare to your higher-degree label. Score yourself and track improvement.

🔑 Closing Advice

Mastery is visual. Use boxes, document alternates, and repeat drills. Measure progress by fewer invalidations and more confident alternate handling — not by perfect predictions.