What is Elliot Wave Theory? The Elliott Wave Principle is a form of technical analysis that is used to analyze market cycles and forecast market trends by identifying the impulses and corrections of market structure. A trader can identify trends by identifying extremes in investor psychology, highs and lows in prices, and much more.
The Elliot Waves are as follows:
1: Impulse Wave
2: Correction
3: Impulse Wave
4: Correction
5: Impulse Wave
A: Impulse Wave + Complex Correction (Wave A usually drops to the previous fourth wave (Wave 4)
B: Correction
C: Impulse (Once wave c is over, it is highly likely the next move is a wave that overcomes the entire a-b-c sequence.)
So what comes after the 5th Wave? What kind of psychologic factors could be taking place during this wave? Leave your thoughts below!
The Elliot Waves are as follows:
1: Impulse Wave
2: Correction
3: Impulse Wave
4: Correction
5: Impulse Wave
A: Impulse Wave + Complex Correction (Wave A usually drops to the previous fourth wave (Wave 4)
B: Correction
C: Impulse (Once wave c is over, it is highly likely the next move is a wave that overcomes the entire a-b-c sequence.)
So what comes after the 5th Wave? What kind of psychologic factors could be taking place during this wave? Leave your thoughts below!
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Here are the results of how this pattern played out this week!