The Elliott Wave theory was put forth by Ralph Nelson Elliott back in the 1930s. To put it briefly, all stock market movements can be seen to unfold in cycles of eight waves. Five of these in general take the price in the direction of the main trend. After the completion of these five wave, it is normal for a three wave correction to develop in the opposite direction. Elliott Wave analysts use Fibonacci ratio analysis to arrive at likely measures for these movements.
The Elliott Wave theory was put forth by Ralph Nelson Elliott back in the 1930s. To put it briefly, all stock market movements can be seen to unfold in cycles of eight waves. Five of these in general take the price in the direction of the main trend. After the completion of these five wave, it is normal for a three wave correction to develop in the opposite direction. Elliott Wave analysts use Fibonacci ratio analysis to arrive at likely measures for these movements.
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