First Know The Wave Structure To Know The Trend

Friday, January 1, 2010

           The structure of Elliot wave is very important to understand the elliot wave completely. There are 13 known patterns divided into two broad groups 1) Impulsive and 2) Corrective. First 5 waves are called impulsive and 6-8 are called corrective waves in a bull market.And another thing to remember is that waves are fractal that is, self-repeating on all degrees of trend:


Its simple enough, isn't it?

Here is the Real example of elliot wave appearing in EUR/USD chart as below:

Hari Omm..........

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