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ELLIOTT WAVE DNA Cheat Sheet 1: Wave Buy Conservative Setup Pre-Trade Requirements Larger trend needs to be Bullish Wave (1) needs to have smaller subwaves that respect the rules of the Motive phase Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (1) How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from the start to end of wave (1) Place pending buy at 50% of wave (1) Stop Loss: Use the starting point of wave (1) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from start to end of wave (1) and project it from end of wave (2) Place targets at 100% and 161.8% extensions of wave (1) Tips For Trading Wave Move stop loss to break even after Take Profit (TP) #1 is reached Check how many smaller sub-waves you have once your TP #1 is reached If you see waves close the entire position Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 2: Wave Sell Conservative Setup Pre-Trade Requirements Larger trend needs to be Bearish Wave (1) needs to have smaller subwaves that respect the rules of the Motive phase Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (1) How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from start to end of wave (1) Place pending sell at 50% Stop Loss: Use the starting point of wave (1) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from start to end of wave (1) and project it from end of wave (2) Place targets at 100% and 161.8% extensions of wave (1) Tips For Trading Wave Move stop loss to break even after Take Profit (TP) #1 is reached Check how many smaller sub-waves you have when your TP #1 is reached If you see waves close the entire position Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 3: Wave Buy Conservative Setup Pre-Trade Requirements Larger trend needs to be Bullish Wave (3) needs to have smaller subwaves Wave (3) needs to test the 161.8% extension of wave (1) How To Setup A Wave Trade Entry Point: Use the Fibonacci retracement and draw it from the start to end of wave (3) Place pending buy at 38.2% (If wave is an extended wave use the 23.6% level for entry) Stop Loss: Use 50.0% of wave (3) as your stop Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (3) Take Profit: Use the Fibonacci retracement tool and draw fib from the start to end of wave (4) Place targets at inverse 161.8% of wave (4) Tip For Trading Wave Move stop loss to break even after price breaks above the end of wave (3) Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 4: Wave Sell Conservative Setup Pre-Trade Requirements Larger trend needs to be Bearish Wave (3) needs to have smaller subwaves Wave (3) needs to test the 161.8% extension of wave (1) How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from the start to end of wave (3) Place pending sell order at 38.2% (If wave is an extended wave use the 23.6% level for entry) Stop Loss: Use 50% of wave (3) as your stop Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (3) Take Profit: Use the Fibonacci retracement tool and draw fib from the start to end of wave (4) Place targets at inverse 161.8% of wave (4) Tip For Trading Wave Move the stop loss to break even after price breaks below the end of wave (3) Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 5: Wave C Buy Conservative Setup Pre-Trade Requirements Larger trend before the start of wave (A) needs to be Bearish Wave (A) needs to have smaller subwaves Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (A) How To Setup A Wave C Trade Entry Point: Use Fibonacci retracement and draw it from the start to end of wave (A) Place pending buy at 50.0% of wave (A) Stop Loss: Use the starting point of wave (A) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from the start to end of wave (A) and project it from the end of wave (B) Place target at 100% extensions of wave (A) Tip For Trading Wave C Move stop loss to break even after price breaks above the end of wave (A) Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 6: Wave C Sell Conservative Setup Pre-Trade Requirements Larger trend before the start of wave (A) needs to be Bullish Wave (A) needs to have smaller subwaves Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (A) How To Setup A Wave C Trade Entry Point: Use Fibonacci retracement and draw it from the start to end of wave (A) Place pending sell at 50.0% of wave (A) Stop Loss: Use the starting point of wave (A) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from the start to end of wave (A) and project it from the end of wave (B) Place target at 100% extensions of wave (A) Tip For Trading Wave C Move stop loss to break even after price breakS below the end of wave (A) Recommended Risk: 1% or 2% ELLIOTT WAVE DNA Cheat Sheet 7: Wave Buy Aggressive Setup Pre-Trade Requirements Wave (1) needs to have smaller subwaves that respect the rules of the Motive phase How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from the start to end of wave (1) Place pending buy order at 50% and 61.8% of wave (1) Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (1) Stop Loss: Use the starting point of wave (1) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from the start to end of wave (1) and project it from end of wave (2) Place targets at 100% and 161.8% extensions of wave (1) Tips For Trading Wave Move stop loss to break even after Take Profit (TP) #1 is reached Check how many smaller sub-waves you have when your TP #1 is reached If you see waves close the entire position Recommended Risk: 2% or 3% ELLIOTT WAVE DNA Cheat Sheet 8: Wave Sell Aggressive Setup Pre-Trade Requirements Wave (1) needs to have smaller subwaves that respect rules of motive phase How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from start to end of wave (1) Place pending sell at 50% & 61.8% of wave (1) Optional Requirement: You should be able to see divergence on RSI indicator between smaller waves and of (1) Stop Loss: Use the starting point of wave (1) as your stop level Take Profit: Use Fibonacci expansion tool and draw fib from start to end of wave (1) and project it from end of (2) wave Place targets at 100% and 161.8% extensions of wave (1) Tips For Trading Wave Move stop loss to break even after #1 is reached Check how much smaller sub-waves you have when your #1 is reached In case you see 5w close entire position Recommended Risk: 2% or 3% ELLIOTT WAVE DNA Cheat Sheet 9: Wave Buy Aggressive Setup Pre-Trade Requirements Wave (3) needs to have smaller subwaves Wave (3) needs to test the 161.8% extension of wave (1) How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from start to the end of wave (3) Place pending buy at 23.6% and 38.2% of wave (3) Stop Loss: Use 50% of wave (3) as your stop Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (3) Take Profit: Use the Fibonacci retracement tool and draw fib from the start to end of wave (4) Place targets at inverse 123.6% and 161.8% of wave (4) Tip For Trading Wave Move stop loss to break even after price breaks above the end of wave (3) Recommended Risk: 2% or 3% ELLIOTT WAVE DNA Cheat Sheet 10: Wave Sell Aggressive Setup Pre-Trade Requirements Wave (3) needs to have smaller subwaves Wave (3) needs to test the 161.8% extension of wave (1) How To Setup A Wave Trade Entry Point: Use Fibonacci retracement and draw it from start to end of wave (3) Place pending sell orders at 23.6% and 38.2% of wave (3) Stop Loss: Use 50% of wave (3) as your stop Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (3) Take Profit: Use Fibonacci retracement tool and draw fib from the start to end of wave (4) Place targets at inverse 123.6% & 161.8% of wave (4) Tip For Trading Wave Move stop loss to break even after price break above the end of wave (3) Recommended Risk: 2% or 3% ELLIOTT WAVE DNA Cheat Sheet 11: Wave C Buy Aggressive Setup Pre-Trade Requirements Before wave (A) you need to have a complete Motive pattern Wave (A) needs to have smaller subwaves How To Setup A Wave C Trade Entry Point: Use Fibonacci retracement and draw it from the start to the end of wave (A) Place pending buy order at 50.0% and 61.8% levels of wave (A) Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (A) Stop Loss: Use the starting point of wave (A) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from the start to the end of wave (A) and project it from the end of wave (B) Place targets at 100% extensions of wave (A) Tip For Trading Wave C Move the stop loss to break even after price breaks above the end of wave (A) Recommended Risk: 2% or 3% ELLIOTT WAVE DNA Cheat Sheet 12: Wave C Sell Aggressive Setup Pre-Trade Requirements Before wave (A) you need to have a complete Motive pattern Wave (A) needs to have smaller subwaves How To Setup A Wave C Trade Entry Point: Use the Fibonacci retracement and draw it from the start to the end of wave (A) Place pending sell order at 50.0% and 61.8% levels of wave (A) Optional Requirement: You should be able to see divergence on the RSI indicator between smaller waves and of (A) Stop Loss: Use the starting point of wave (A) as your stop level Take Profit: Use the Fibonacci expansion tool and draw fib from the start to the end of wave (A) and project it from the end of wave (B) Place targets at 100% extensions of wave (A) Tip For Trading Wave C Move the stop loss to break even after price breaks above the end of wave(A) Recommended Risk: 2% or 3%
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