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Elliott Wave About
Saturday, March 31st, 2012Elliott Wave Theory was discovered by Ralph Nelson Elliott in the 1930’s. He
came to the conclusion that the markets don’t move in random movements and
that directional changes have a correlative relationship with other
directional movements in many different time frames. His methods can explain
all the movements of any market in history. This gives the Elliottician a better
understanding of the future direction of the market.
Basically markets move five waves in the impulsive or motive direction and
three waves in the corrective direction. The drawing below shows how this
basically looks.
that waves 1,3 and 5 are motive. Moving in the direction of the trend for Read the rest of this entry »
the entire five wave move. Waves 2 and 4 are corrective and usually don’t
violate the starting point of the previous motive wave.
Trends Terms:
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