Question of the Week: 5/5/2010
Is Chapter 3 of Mastering Elliott Wave important or necessary for those who are already experienced with wave analysis?
That depends on where you gained your experience. If it came from the orthodox philosophy of wave pattern development, then Chapter 3 will be essential to your mental transition to a more logical process of wave analysis.
Chapter 3 was designed to take a complete neophyte by the hand, step-by-step, through a logical process of marking the internal structure of a monowave (or wave segment) as corrective or impulsive. It is perfect for those early in their NEoWave education process (or for those who have converted from the orthodox Elliott Wave camp and need "retraining").
Application of the rules in Chapter 3 makes sure you do not break major behavior concepts (much of it based on vector physics). If you do not yet get the "logic" of NEoWave, I recommend you continue to work with Chapter 3 until that "logic" is understood.
With years of practice, eventually the internal, structure identification process described in Chapter 3 becomes second nature and no longer requires the detailed steps outlined in that chapter.
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