@Wetdog544, yes it should start at the beginning of the wave, so if you got wave 1 you can try and forcast the next waves.. you need to identify a possible wave 1 incl retracement, the top of wave 1 is the 'break out' you aiming for (green horizontal line), if it's broken you buy (again, i'm new.. def. not an financial advisor)
@aminsauvage, thanks for watching! According to http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory there should be a corrective a,b,c, wave; for now i'm focusing on learning 'breakout' strategies and not so much the mid term since it includes more factors and i'm truly new to wave theories. Def look at the youtube link provided in the description since this was my inspiration.