Practical Application Of Elliott Wave Principle By Deepak Kumar Pdf -

"Practical Application of Elliott Wave Principle" by Deepak Kumar provides actionable trading strategies, focusing on wave cycles, personalities, patterns, and Fibonacci ratios, particularly within the Indian stock market. The book emphasizes three core "iron rules" for valid wave counts and aims to guide traders through real-time market analysis and risk management. The ebook is available for purchase at

Too many traders ignore the concept of "degree" (Grand Supercycle vs. Minute). Kumar suggests a simple hack: Use a 200-period moving average on the 1-hour chart. If price is above it, label waves as Minor degree; if below, look for Minuette degree counter-trend. "Practical Application of Elliott Wave Principle" by Deepak

It moves the conversation from "What wave is this?" to "What is the risk/reward of this wave based on the last three waves?" Impulse waves : These are waves that move

1. Impulse waves: These are waves that move in the direction of the main trend and are characterized by a strong and sustained price movement.
2. Corrective waves: These are waves that move against the main trend and are characterized by a price movement that corrects or retraces the previous impulse wave.

The practical twist: Kumar provides specific candlestick patterns and volume conditions that confirm each wave. For example, he teaches that Wave 3 is often accompanied by the highest volume and strongest momentum indicators (RSI above 70 in a bullish trend). focusing on wave cycles