零点课堂 | An Introduction to the Elliott Wave Theory（2）

Note that, in the first example, we have five Motive Waves: three in the upward move (1, 3, and 5), plus two in the downward move (A and C). Simply put, any move that is in accordance with the major trend may be considered a Motive Wave. This means that 2, 4, and B are the three Corrective Waves.

But according to Elliott, financial markets create patterns of a fractal nature. So, if we zoom out to longer timeframes, the movement from 1 to 5 can also be considered a single Motive Wave (i), while the A-B-C move may represent a single Corrective Wave (ii).

Also, if we zoom in to lower timeframes, a single Motive Wave (such as 3) can be further divided into five smaller waves, as illustrated in the next section.

In contrast, an Elliott Wave cycle in a bearish market would look like this:

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