Elliott Wave TheoryRalph Nelson Elliott developed Elliott Wave Theory in the early 1930'slliott's key discovery was that business behaviour could be located and measured through a repeating eight-wave sequence, consisting of a five-wave "impulsive" sequence followed by a 3-wave "corrective" sequenceor more information see Elliott Wave Theory:Generally, the Elliott Wave Theory says that business price moves in recurring wave patternshere is far more to this theory, but a couple of of it can get really complicated and can be frustratingery crucial in Understanding the Elliott Wave Theory is the basic thought that a wave is made of sub-waveshe wave structures of the largest degree are composed of smaller sub waves, which are in turn composed of even smaller sub waves, and so on, which all have more or less the same structure (impulsive or corrective) like the larger wave they belong toerein, lies the weakness of the Elliott Wave Theory -- its predictive value ... [Read More - Forex Market Instruments]
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