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corrective waves

/Tag: corrective waves

Elliot Wave: Corrective waves | Zig Zag pattern | Triangle patterns

The most complicated part of Elliott wave is the corrective waves. There are many forms of corrective waves which are difficult to comprehend at the hindsight. There are three classifications of corrective waves- zig zag pattern, flat wave and triangle patterns. Defining the Corrective waves Before delving deeper into the types of corrective waves, let's have a clear understanding about corrective waves. The waves 2 and 4 are corrective waves with respect to waves 1 and 3 respectively. The wave b is a corrective wave since it corrects the wave a. Consequently, the wave ‘abc’ is the corrective wave [...]

Elliot Wave: Corrective waves | Zig Zag pattern | Triangle patterns2018-12-20T10:35:29+04:00

Elliott Wave Theory: Mystery around Elliot wave demystified

Ralph Nelson Elliott discovered the Elliott wave theory in the 1920’s, but it didn’t attract attention at that time. It was brought to limelight by Robert Prechter when he predicted the bull market of the 1980’s (both in stock and gold) with the Elliot wave. The Elliot wave theory comprises three aspects pattern, ratio and time, along with impulse waves and corrective waves. Elliot wave: Pattern The Elliott wave pattern suggests that any market trend (bull or bear) is of the form 5-3 wave. Impulse waves move in the direction of the trend and corrective waves push against the [...]

Elliott Wave Theory: Mystery around Elliot wave demystified2018-11-01T17:38:16+04:00