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Here is an example of what's called a nested 1,2 setup. Note how the initial ramp up in five (white) is almost being mimicked by the blue impulse sequence. However, the blue is of a lesser degree of trend than the white. So, how exactly does this become a nested 1,2?
The purple cycle degree of trend shows that 1 and 2 are complete. The subwaves of purple 3 are shown in white. The lesser degree of trend white 1,2 are nested within the higher degree of trend purpled 1,2. White wave 2 of purple 3 is a correction that is currently in progress and once complete, white wave 3 would bring about all time new highs.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?