text: Learn Trading Under The Guidance of Vivek Bajaj + 4 Mentors - Know More
  
  Basics of Elliott Wave
  
  Module Units
  
  # Fractal Nature of Elliott Waves
  
  In this section, we will discuss how the concept of Fractal applies to Elliott Wave Theory.
  
  ### What are fractals?
  
  Fractals are easily found in nature. These objects display self-similar structure over an extended, but finite, scale range.
  
  Examples include clouds, snowflakes, mountains, river networks, cauliflower or broccoli, and systems of blood vessels.
  
  Let us understand with the example of a tree.
  
  There are branches within branches.
  
  Trees are fractal in nature. A branch from a tree is a miniature replica of the main tree. It is not identical but similar in nature.
  
  This concept can be very well applied to Elliott waves.
  
  There are waves within waves
  
  One of the basic tenets of Elliott Wave theory is that market structure is fractal in character. Elliott Wave patterns that show up on the long term chart, it is seen as composed of a pattern of waves, but when the same wave is seen on a short term chart, it is seen as composed of a pattern of waves, with sometimes more complex structures.
  
  Now for example the internal structure of waves 1, 3 and 5 in an impulse pattern is 5 Waves as seen in a lower time frame chart.
  
  Wave 2 and 4 have an internal structure of 3 waves as seen in a lower time frame chart i.e. they are corrective in nature.
  
  Similarly in Zigzag correction, waves A and C have a 5 wave internal structure. Wave B has a 3 wave internal structure
  
  A Flat correction shows Waves A and B having 3 waves internal structure and Wave C is a 5 waves internal structure
  
  In a triangle correction, waves A to E all show a 3 Wave structure
  
  So the challenging partof Elliott wave theory is figuring out the wave structure. Thus, the key to Elliot waves is the ability to identify the wave context with larger degree waves.
  
  Note: There are some set rules & guidelines to identify each type of wave pattern. We will go through each of them in our upcoming units.
  
  Did you like this unit?
  
  Units 7/12
  
  Rejo Panicker
  
  This document is curated by Mr Rejo Panicker. He is a passionate student of the market since 2017, pursuing a full-time trading career. He has a keen interest and understanding of the Elliott Wave Theory. Through his learning and experience he aims to create newer highs in the markets and aims to break Mr Dan Zanger's record.
explanation: The document is an educational module on the basics of Elliott Wave theory, specifically focusing on the fractal nature of Elliott Waves. It explains how fractals are self-similar structures found in nature and how this concept applies to market waves. The text provides examples of different wave patterns and their internal structures, such as impulse waves, zigzag corrections, flat corrections, and triangle corrections. The document does not contain a specific math question or a question and answer.
distilabel_metadata.content: Evaluate the user given text extract and determine if it contains a math question and optionally and answer to this question.
  
  Output rules:
  
  1. Briefly describe the document and mention if it contains a question or a question and answer.
  2. Finalize the output with: Label: no-question,question,question-and-answer,multiple-question,multiple-question-and-answer
distilabel_metadata.role: system
distilabel_metadata.content: Learn Trading Under The Guidance of Vivek Bajaj + 4 Mentors - Know More
  
  Basics of Elliott Wave
  
  Module Units
  
  # Fractal Nature of Elliott Waves
  
  In this section, we will discuss how the concept of Fractal applies to Elliott Wave Theory.
  
  ### What are fractals?
  
  Fractals are easily found in nature. These objects display self-similar structure over an extended, but finite, scale range.
  
  Examples include clouds, snowflakes, mountains, river networks, cauliflower or broccoli, and systems of blood vessels.
  
  Let us understand with the example of a tree.
  
  There are branches within branches.
  
  Trees are fractal in nature. A branch from a tree is a miniature replica of the main tree. It is not identical but similar in nature.
  
  This concept can be very well applied to Elliott waves.
  
  There are waves within waves
  
  One of the basic tenets of Elliott Wave theory is that market structure is fractal in character. Elliott Wave patterns that show up on the long term chart, it is seen as composed of a pattern of waves, but when the same wave is seen on a short term chart, it is seen as composed of a pattern of waves, with sometimes more complex structures.
  
  Now for example the internal structure of waves 1, 3 and 5 in an impulse pattern is 5 Waves as seen in a lower time frame chart.
  
  Wave 2 and 4 have an internal structure of 3 waves as seen in a lower time frame chart i.e. they are corrective in nature.
  
  Similarly in Zigzag correction, waves A and C have a 5 wave internal structure. Wave B has a 3 wave internal structure
  
  A Flat correction shows Waves A and B having 3 waves internal structure and Wave C is a 5 waves internal structure
  
  In a triangle correction, waves A to E all show a 3 Wave structure
  
  So the challenging partof Elliott wave theory is figuring out the wave structure. Thus, the key to Elliot waves is the ability to identify the wave context with larger degree waves.
  
  Note: There are some set rules & guidelines to identify each type of wave pattern. We will go through each of them in our upcoming units.
  
  Did you like this unit?
  
  Units 7/12
  
  Rejo Panicker
  
  This document is curated by Mr Rejo Panicker. He is a passionate student of the market since 2017, pursuing a full-time trading career. He has a keen interest and understanding of the Elliott Wave Theory. Through his learning and experience he aims to create newer highs in the markets and aims to break Mr Dan Zanger's record.
distilabel_metadata.role: user
distilabel_metadata.raw_output_q_a_detector_0: The document is an educational module on the basics of Elliott Wave theory, specifically focusing on the fractal nature of Elliott Waves. It explains how fractals are self-similar structures found in nature and how this concept applies to market waves. The text provides examples of different wave patterns and their internal structures, such as impulse waves, zigzag corrections, flat corrections, and triangle corrections. The document does not contain a specific math question or a question and answer.
  
  Label: no-question