Elliot Wave & More About It

Here is the Chart of Cocoa where it presents the 5-wave form in its chart let us see it in detail as mentioned by Elliot Wave:

As for what the "basics" of a completed five-wave pattern are, this list has the Elliott wave rules and guidelines covered:

Rule: Wave 2 never moves beyond the start of wave 1

Rule: Wave 3 is never the shortest among the impulse waves 1, 3, and 5.

Rule: Wave 4 never ends in the price territory of wave 1

Guideline: When wave 3 extends, wave 5 is often equal to the distance traveled in wave 1.

Guideline: The five-wave structure forms a parallel trendchannel. You draw the top of the channel by attaching the peaks of waves 1 and 3; and the bottom, with the peaks of waves 2 and 4.

And we can see here from the above chart that how the trend of Cocoa came down after making fifth wave...

Hari Ommmm........