Elliott wave happens in 5 waves upwards and 3 waves downwards.
Elliott wave theory - Simplified Elliott wave analysis - for real traders...for winning
Elliott wave is a unique form of market analysis, developed by R. N. Elliott in the 1930s. Since then, numerous Elliott wave software programs have incorporated his wave analysis techniques. Though promising a lot, many Elliott wave forecasts and approaches have failed to deliver - why ?
At MTPredictor™ we believe we have the answer. MTPredictor uses Elliott wave analysis in a truly unique manner - it identifies Elliott wave patterns in isolation...and only if a valid Elliott count is present. It is software that allows the trader to identify trade set-ups without the need for a complete historical analysis of a market or the added confusion of multiple timeframes. This solves one of the main Elliott problems - analysis often drifting in and out of phase. The traditional way of dealing with this is by using alternate wave counts...we believe this leads to more questions than answers - and never use 'alternatives'.
Read linkhttp://www.blonnet.com/iw/2005/11/27...2701070700.htm
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