Ralph Nelson Elliott The Wave Principle Pdf 26

The wave pattern also creates extremes in the markets. Waves move prices up and down, and the direction of the trend is clear throughout a period when the market is in a degree of the wave. For example, the 1 degree of the wave shows a bull market, while the 3 degree of the wave shows a bear market. When the degree of the wave turns to the opposite direction, the market is in a reversal, as the 3 degree of a new wave, the 5 degree, prepares to reverse. The 5 degree of a wave is the strongest degree of the wave, as it is the second wave that reverses the previous bull market pattern, and a new bear market begins. Elliott wave theory states that the majority of waves are motive, and that the overall direction of the market is clear throughout a cycle of the wave. This concept is the basis of the theory's ability to predict the direction and the length of a market's run-up or decline.

The wave pattern is based on the Fibonacci ratios, which are found in nature in the growth of certain materials, such as an apple's growth from seed to fruit. The Fibonacci ratios are 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233 , and so on. The Fibonacci ratios are also used in mathematics, and art. In the market, a bull market in a degree of the wave can be expected to have a ratio of 1, 1, 2, 3, 5, 8, 13, 21 , while a bear market typically has a ratio of 1, 3, 5, 8, 13, 21, 34, 55, 89 . The ratio of the 5 degree of the wave to the 8 degree of the wave is 55/89, and the ratio of the 3 degree to the 5 degree is 3/5.

The Elliott wave principle has been proven over a long period of time. The principles of the Elliott wave principle are not difficult to understand, and are demonstrated by the accuracy of Elliott wave in predicting market events.

If you are not a trader, the use of Elliott wave is not as intuitive as a charting method. A trading method that predicts the highs and lows of the market, and then makes trades based on the predicted trend, is an extremely powerful method. If you believe that the market is following an Elliott wave pattern, then you can make long trades based on the Elliott wave principle.

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