Question of the Week: 8/8/2005
What is a NEoWave SYMMETRICAL formation?
A Symmetrical is a new pattern that exists under NEoWave Theory (i.e., it was not one of the patterns included in R.N. Elliott`s Wave principle). I discovered my first Symmetrical formation around 2001 - many years after I wrote Mastering Elliott Wave. As a result, Symmetricals are NOT mentioned in my book.
A Symmetrical is a 9-legged formation (Flats and Zigzags are 3, Triangle are 5, NEoWave Diametrics are 7) that does NOT involve an x-wave. Very specifc rules must be met for the application of an x-wave. If an x-wave cannot be used to connect a-b-c and a-b-c-d-e patterns, then the ONLY way to label such a formation is to continue through the alphabet to waves-f-g-h and i. NEoWave Diametrics end with wave-g, whereas NEoWave Symmetricals end with wave-i. The distinguishing factor of a NEoWave Symmetrical formation is that it is the ONLY wave formation that allows price, time and complexity similarity of every wave segment. In Flats and Zigzags, time and complexity differences must be very obvious between waves-a, b and c. In Triangles, the differences begin to reduce, but are still quite pronounced. In NEoWave Diametrics, the time and complexity exhibited by each wave will be very similar, but they remain different in price. In a NEoWave Symmetrical, most waves possess the same time, price coverage and complexity. Such similarity is NOT allowed in any other wave formation.
In general, Symmetricals tend to unfold between parallel lines, but there might also be some expansion or contraction present throughout the pattern.
Click here to view NEoWave's Question Of The Week archive