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Elliot Wave Amplification

Posted By On 9/07/2008 12:42:00 PM Under

1. One can divide above waves  into lower degrees and same can be seen as depicted pictorially for the elliot wave.

2. One can call this development of wave as impulsive and corrective where impulsive (powerfully impel the market) mode of the wave is employed by both the five wave pattern and its same-directional components, i.e., waves 1, 3 and 5.

3. Corrective mode(accomplish only a partial retracement, or “correction,” of the progress achieved by any preceding impulsive wave.) is employed by all countertrend interruptions, which include waves 2 and 4.

4. Thus one has to judiciously interpret the Elliot wave to be able to identify the correct trend prevailing in the market.

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