Description
This article is from the Glossary of
Technical Analysis Terms.
Glossary of Technical Analysis Terms: E
- Elliott Wave:
Elliott wave theory goes beyond traditional charting techniques by
providing an overall
view of market movement that helps explain why and where certain
chart patterns develop. The three major aspects of wave analysis
are pattern, time and ratio. The basic Elliott pattern consits of
a 5 wave uptrend followed by a three wave correction. Each "leg"
of a wave in turn consists of smaller waves. Elliott waves can be
used to successfully define where the market currently is in
relation to "the big picture" but is usually to unreliable for
short term trading.
Continue to:
Share and Enjoy
Bookmark this story so others can enjoy it:
Tags
investing, glossary, technical analysis terms, terminology
