The Basics Of Elliott Wave Patterns - 2 one hour classes part 1

Using Elliott Wave successfully means keeping it simple. This class was developed to provide you with the basic tools needed for a solid understanding of basic Elliott Wave structures: the 5-wave (impulse) pattern and the 3-wave (corrective) pattern. You can successfully trade using Elliott Wave analysis by following only three basic rules accompanied by a handful of guidelines.
Each Elliott Wave structure defines the trend and the market's next likely move. With a solid understanding of these simple rules and guidelines, you will gain confidence in counting a chart, which can result in a better understanding of the item's price potential. - Investor Trading Academy

An Elliott Wave has two basic phases: an impulse or motive phase, and a reactionary or corrective phase. The impulse phase always moves in the direction of the trend, whereas the corrective phase moves against it. This would mean in a bullish market; the impulse phase will be moving upward while the corrective phase will be moving downward. In a bearish market the opposite will occur, meaning the impulse phase will move downward and the corrective phase will angle up. - Investor Trading Academy