fibonacci patterns

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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+00:00