Elliott Wave Education: Glossary

Common Abbreviations/Terms

  • ACCT = Account
  • AH = After Hours (usa hours)
  • AMC = After Market Close
  • ATH = All Time High
  • BE = Break Even
  • BMO = Before Market Open
  • BTFD = Buy The F**** Dip
  • BTW = By The Way
  • C = Close
  • CABPCR = Cow A. Bunga Put Call Ratio ("Cow A. Bunga" the nickname for Zac)
  • CABpIPO = Cow A. Bunga post IPO pattern
  • CASH = Non Futures Markets of Indexes
  • CB = Central Bank
  • CH = Channel
  • CIT = Change In Trend - due to fib timing or other timing
  • D = Day or Daily
  • DB = Double Bottom
  • DT = Double Top
  • DT = Down Trend
  • DTL = Down Trendline
  • ECB = European Central Bank
  • ED = Ending Diagonal
  • EOD = End Of Day
  • EOM = End Of Month
  • EOW = End Of Week
  • ER = Earnings Release
  • ES = Spx Futures
  • ETF = Exchange Traded Fund
  • EU = Euro Zone
  • EW = Elliott Wave
  • EXT = Extension (usually referring to fibbo extension)
  • FED = Federal Reserve of US
  • FIB = Fibonacci
  • FID = Fidelity
  • FOMO = Fear Of Missing Out
  • Gorp = Sloppy, overlapping, ambiguous price action which does not foster a clear wave analysis
  • H = High
  • HFT = High Frequency Trading
  • HOD = High Of Day
  • HR = Hour Hourly
  • HS = Head and Shoulders
  • HV = Have
  • IB = Interactive Brokers
  • IHS = Inverse Head and Shoulders
  • IMF = International Monetary Fund
  • IMHO = In My Humble Opinion
  • IMO = In My Opinion
  • ITM = In The Money Options
  • L = Long
  • L = Low
  • LD = Leading Diagonal
  • Linear vs Logscale Retraces and Extensions
  • LOA = Look Out Above
  • LOB = Look Out Below (an avi-ism)
  • LOD = Low Of Day
  • LOL = Laugh Out Loud
  • M = Minute
  • MHO = My Humble Opinion
  • MO = Monthly
  • MOC = Market On Close
  • NQ = Nasdaq Futures
  • O = Open
  • OHLC = Open High Low Close
  • OMH = One More High
  • OML = One More Low
  • OPEX = Options Expiry Friday
  • OTM = Out of The Money options
  • P = Pivot
  • PB = Pull Back
  • PF = Point and Figure
  • Pirate Ninja = Set-up via corrective retrace for potential measured move.
  • PM = Premarket USA Hours
  • PT = Point
  • R = Resistance
  • R1 R2 R3 = Resistance Pivots
  • ROFLMAO = Rolling On The Floor Laughing My A** Off
  • RTH = Regular Trading Hours
  • S = Support
  • S1 S2 S3 = Support Pivots
  • SDA = Sharp Drop Alert
  • SPEW = Statistical Probability Elliott Wave
  • SS = Short Sell
  • TA = Technical Analysis
  • TF = Russell Futures
  • TIA = Thanks In Advance
  • TL = Trendline
  • TMAR = Take the Money And Run
  • TMI = Too Much Information
  • TOM = Tomorrow
  • TOS = Think Or Swim
  • TS = Trade Station
  • TU = Thank You
  • TUVM = Thank You Very Much
  • TX = Thanks
  • U = You.....
  • UT = Up Trend
  • UTL = Upper Trendline
  • VWAP = Volume Weighted Average Price
  • W = Wave
  • W-E = Weekend
  • WK = Week or Weekly
  • Y = Yes
  • YDAY = Yesterday
  • YM = Dow Futures
  • YR = Year or Yearly
  • ZB = 30yr bond futures
  • ZN = 10yr bond futures
  • ZZZ = Market is Asleep

Fibonacci Pinball

Fibonacci Pinball is a standardized method identified by Avi Gilburt that has helped him trade waves 3-5 with extraordinary accuracy once waves 1 and 2 are in place.

Standard Impulse Wave

Strong, trending price move consisting of 5 waves. Waves 1,3 and 5 are impulsive, or motive waves, and move in the direction of the trend. They subdivide into a 5-wave structure, which are designated by numbers. Waves 2 and 4 are corrective -- moving counter to the trend -- and subdivide into 3 waves, which are designated by letters. Some basic rules: Wave 2 never retraces beyond the start of Wave 1; Wave 3 cannot be the shortest of the three impulse waves; Wave 4 does not overlap with the price territory of Wave 1; and Waves 2 and 4 tend to alternate in form. (A sharp move in Wave 2, for example, will suggest a mild move in Wave 4.) Also, sub-waves should exhibit Fibonacci relationships.

Impulsive Waves

Corrective Waves:

These are counter-trend 3 wave structures (labeled A, B, and C) that only retrace a portion of its preceding motive wave. They are more variable than a motive wave, and often do not show the strength that its preceding motive wave had. Corrective waves are often very hard to label while they are playing out, especially in the early stages of them and are often not clear until they are almost over. Wave 2's typically are Zigzags or Flats (VERY rarely triangles), more likely to be a deep, fast correction Wave 4's are the most complex and often shallow flatter corrections (triangles are more likely in 4th waves and B waves).