Three waves that move against the primary trend, retracing the preceding motive move. The "Three Golden Rules" of Impulsive Waves
If the price moves past the starting point of Wave 1, the count is invalidated.
Five waves that move in the direction of the primary trend.
There should be no overlap between these two waves (except in rare "diagonal" patterns).
While it is often the longest, Wave 3 cannot be shorter than both Wave 1 and Wave 5.
