ELLIOTT WAVE DNA Cheat Sheet 1: Wave 3 Buy Conservative Setup
Pre-Trade Requirements How To Setup A Wave 3 Trade
1. Larger trend needs to be Bullish Entry Point: Use Fibonacci retracement and draw
2. Wave (1) needs to have 5 smaller sub- it from the start to end of wave (1). Place
waves that respect the rules of the pending buy at 50% of wave (1).
Motive phase.
Stop Loss: Use the starting point of wave (1) as
Optional Requirement: You should be able to your stop level.
see divergence on the RSI indicator between
smaller waves 3 and 5 of (1) Take Profit: Use the Fibonacci expansion tool and
draw fib from start to end of wave (1) and project
it from end of wave (2). Place targets at 100%
and 161.8% extensions of wave (1)
Tips For Trading Wave 3
1. Move stop loss to break even after Take
Profit (TP) #1 is reached.
2. Check how many smaller sub-waves you
have once your TP #1 is reached. If you see
5 waves close the entire position.
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 2: Wave 3 Sell Conservative Setup
Pre-Trade Requirements How To Setup A Wave 3 Trade
1. Larger trend needs to be Bearish. Entry Point: Use Fibonacci retracement and draw
2. Wave (1) needs to have 5 smaller sub- it from start to end of wave (1). Place pending
waves that respect the rules of the sell at 50%
Motive phase.
Stop Loss: Use the starting point of wave (1) as
Optional Requirement: You should be able to your stop level.
see divergence on the RSI indicator between
smaller waves 3 and 5 of (1) Take Profit: Use the Fibonacci expansion tool and
draw fib from start to end of wave (1) and project
it from end of wave (2). Place targets at 100%
and 161.8% extensions of wave (1)
Tips For Trading Wave 3
1. Move stop loss to break even after Take
Profit (TP) #1 is reached.
2. Check how many smaller sub-waves you
have when your TP #1 is reached. If you see
5 waves close the entire position.
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 3: Wave 5 Buy Conservative Setup
Pre-Trade Requirements How To Setup A Wave 5 Trade
1. Larger trend needs to be Bullish. Entry Point: Use the Fibonacci retracement and
2. Wave (3) needs to have 5 smaller sub- draw it from the start to end of wave (3). Place
waves. pending buy at 38.2% (If wave 3 is an extended
3. Wave (3) needs to test the 161.8% wave use the 23.6% level for entry).
extension of wave (1).
Stop Loss: Use 50.0% of wave (3) as your stop.
Optional Requirement: You should be able
to see divergence on the RSI indicator Take Profit: Use the Fibonacci retracement tool
between smaller waves 3 and 5 of (3) and draw fib from the start to end of wave (4).
Place targets at inverse 161.8% of wave (4).
Tip For Trading Wave 5
Move stop loss to break even after price breaks
above the end of wave (3).
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 4: Wave 5 Sell Conservative Setup
Pre-Trade Requirements How To Setup A Wave 5 Trade
1. Larger trend needs to be Bearish. Entry Point: Use Fibonacci retracement and draw
2. Wave (3) needs to have 5 smaller sub- it from the start to end of wave (3). Place
waves. pending sell order at 38.2% (If wave 3 is an
3. Wave (3) needs to test the 161.8% extended wave use the 23.6% level for entry).
extension of wave (1).
Stop Loss: Use 50% of wave (3) as your stop.
Optional Requirement: You should be able to
see divergence on the RSI indicator between Take Profit: Use the Fibonacci retracement tool
smaller waves 3 and 5 of (3) and draw fib from the start to end of wave (4).
Place targets at inverse 161.8% of wave (4).
Tip For Trading Wave 5
Move the stop loss to break even after price
breaks below the end of wave (3)
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 5: Wave C Buy Conservative Setup
Pre-Trade Requirements How To Setup A Wave C Trade
1. Larger trend before the start of wave (A) Entry Point: Use Fibonacci retracement and draw
needs to be Bearish. it from the start to end of wave (A). Place
2. Wave (A) needs to have 5 smaller sub- pending buy at 50.0% of wave (A).
waves.
Stop Loss: Use the starting point of wave (A) as
Optional Requirement: You should be able to your stop level.
see divergence on the RSI indicator between
smaller waves 3 and 5 of (A) Take Profit: Use the Fibonacci expansion tool and
draw fib from the start to end of wave (A) and
project it from the end of wave (B). Place target
at 100% extensions of wave (A).
Tip For Trading Wave C
Move stop loss to break even after price breaks
above the end of wave (A).
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 6: Wave C Sell Conservative Setup
Pre-Trade Requirements How To Setup A Wave C Trade
1. Larger trend before the start of wave (A) Entry Point: Use Fibonacci retracement and draw
needs to be Bullish. it from the start to end of wave (A). Place
2. Wave (A) needs to have 5 smaller sub- pending sell at 50.0% of wave (A).
waves.
Stop Loss: Use the starting point of wave (A) as
Optional Requirement: You should be able to your stop level.
see divergence on the RSI indicator between
smaller waves 3 and 5 of (A) Take Profit: Use the Fibonacci expansion tool and
draw fib from the start to end of wave (A) and
project it from the end of wave (B). Place target
at 100% extensions of wave (A)
Tip For Trading Wave C
Move stop loss to break even after price
breakS below the end of wave (A).
Recommended Risk: 1% or 2%
ELLIOTT WAVE DNA Cheat Sheet 7: Wave 3 Buy Aggressive Setup
Pre-Trade Requirements How To Setup A Wave 3 Trade
1. Wave (1) needs to have 5 smaller sub- Entry Point: Use Fibonacci retracement and draw
waves that respect the rules of the it from the start to end of wave (1). Place
Motive phase. pending buy order at 50% and 61.8% of wave (1).
Optional Requirement: You should be able to Stop Loss: Use the starting point of wave (1) as
see divergence on the RSI indicator between your stop level.
smaller waves 3 and 5 of (1)
Take Profit: Use the Fibonacci expansion tool and
draw fib from the start to end of wave (1) and
project it from end of wave (2). Place targets at
100% and 161.8% extensions of wave (1).
Tips For Trading Wave 3
1. Move stop loss to break even after Take
Profit (TP) #1 is reached.
2. Check how many smaller sub-waves you
have when your TP #1 is reached. If you see
5 waves close the entire position.
Recommended Risk: 2% or 3%
ELLIOTT WAVE DNA Cheat Sheet 8: Wave 3 Sell Aggressive Setup
Pre-Trade Requirements How To Setup A Wave 3 Trade
1. Wave (1) needs to have 5 smaller sub- Entry Point: Use Fibonacci retracement and draw
waves that respect rules of motive it from start to end of wave (1). Place pending
phase. sell at 50% & 61.8% of wave (1).
Optional Requirement: You should be able to Stop Loss: Use the starting point of wave (1) as
see divergence on RSI indicator between your stop level.
smaller waves 3 and 5 of (1)
Take Profit: Use Fibonacci expansion tool and
draw fib from start to end of wave (1) and project
it from end of (2) wave. Place targets at 100%
and 161.8% extensions of wave (1)
Tips For Trading Wave 3
1. Move stop loss to break even after tp #1 is
reached.
2. Check how much smaller sub-waves you
have when your tp #1 is reached. In case
you see 5w close entire position.
Recommended Risk: 2% or 3%
ELLIOTT WAVE DNA Cheat Sheet 9: Wave 5 Buy Aggressive Setup
Pre-Trade Requirements How To Setup A Wave 5 Trade
1. Wave (3) needs to have 5 smaller sub- Entry Point: Use Fibonacci retracement and draw
waves. it from start to the end of wave (3). Place
2. Wave (3) needs to test the 161.8% pending buy at 23.6% and 38.2% of wave (3).
extension of wave (1).
Stop Loss: Use 50% of wave (3) as your stop.
Optional Requirement: You should be able to
see divergence on the RSI indicator between Take Profit: Use the Fibonacci retracement tool
smaller waves 3 and 5 of (3) and draw fib from the start to end of wave (4).
Place targets at inverse 123.6% and 161.8% of
wave (4).
Tip For Trading Wave 5
Move stop loss to break even after price
breaks above the end of wave (3).
Recommended Risk: 2% or 3%
ELLIOTT WAVE DNA Cheat Sheet 10: Wave 5 Sell Aggressive Setup
Pre-Trade Requirements How To Setup A Wave 5 Trade
1. Wave (3) needs to have 5 smaller sub- Entry Point: Use Fibonacci retracement and draw
waves. it from start to end of wave (3). Place pending
2. Wave (3) needs to test the 161.8% sell orders at 23.6% and 38.2% of wave (3).
extension of wave (1).
Stop Loss: Use 50% of wave (3) as your stop.
Optional Requirement: You should be able to
see divergence on the RSI indicator between Take Profit: Use Fibonacci retracement tool and
smaller waves 3 and 5 of (3). draw fib from the start to end of wave (4). Place
targets at inverse 123.6% & 161.8% of wave (4).
Tip For Trading Wave 5
Move stop loss to break even after price
break above the end of wave (3).
Recommended Risk: 2% or 3%
ELLIOTT WAVE DNA Cheat Sheet 11: Wave C Buy Aggressive Setup
Pre-Trade Requirements How To Setup A Wave C Trade
1. Before wave (A) you need to have a Entry Point: Use Fibonacci retracement and draw
complete Motive pattern. it from the start to the end of wave (A). Place
2. Wave (A) needs to have 5 smaller sub- pending buy order at 50.0% and 61.8% levels of
waves. wave (A).
Optional Requirement: You should be able to Stop Loss: Use the starting point of wave (A) as
see divergence on the RSI indicator between your stop level.
smaller waves 3 and 5 of (A)
Take Profit: Use the Fibonacci expansion tool
and draw fib from the start to the end of wave
(A) and project it from the end of wave (B). Place
targets at 100% extensions of wave (A).
Tip For Trading Wave C
Move the stop loss to break even after price
breaks above the end of wave (A).
Recommended Risk: 2% or 3%
ELLIOTT WAVE DNA Cheat Sheet 12: Wave C Sell Aggressive Setup
Pre-Trade Requirements How To Setup A Wave C Trade
1. Before wave (A) you need to have a Entry Point: Use the Fibonacci retracement and
complete Motive pattern. draw it from the start to the end of wave (A).
2. Wave (A) needs to have 5 smaller sub- Place pending sell order at 50.0% and 61.8%
waves. levels of wave (A).
Optional Requirement: You should be able to Stop Loss: Use the starting point of wave (A) as
see divergence on the RSI indicator between your stop level.
smaller waves 3 and 5 of (A)
Take Profit: Use the Fibonacci expansion tool and
draw fib from the start to the end of wave (A)
and project it from the end of wave (B). Place
targets at 100% extensions of wave (A).
Tip For Trading Wave C
Move the stop loss to break even after price
breaks above the end of wave(A).
Recommended Risk: 2% or 3%
