ELLIOTT WAVE SCHOOL
We have educational on-line video material, nearly 7 hours long in which I share information and knowledge that I found useful over the last 12 years. However, technical analysis, Elliott Wave theory and trading is not for everyone so our educational videos Do Not Guarantee You Success!
Despite our videos below we also recommend a book from Amazon Elliott Wave Principle: Key to Market Behavior thanks to Robert R Prechter and his team. CLICK HERE. Plus, if you will check their website you can also find a lot of their free, very helpful and useful resources.
In this video we talk about Elliott wave theory in general, just where it comes from, who discovered it etc. It’s only 9 minutes long since we think it may not be so important.
2. EWS Part 2: Wave Theory At Work?
In the second video we want to look at some real examples of Elliott Wave patterns and predictions that we analyzed in the last few years, to show you how Elliott Wave theory works, and why it works. We will look at some different patterns, before and after charts on different markets.
3. EWS Part 3: Motive Wave - "Impulse"
We will go through rules and guidelines of an impulse, how to identify an impulse pattern, what to look for and what it really matters. We will show you the channeling technique and how to apply the Fibonacci on impulse waves (when and when wave 2 can end, what to look for in wave 3, wave 4 and where and how to project end of wave 5)
4. EWS Part 4: Motive Wave - "Diagonal Triangles"
We will go through rules and guidelines of diagonal triangles, how to identify the diagonal triangle, what are the personality of the patterns. We will show you how to take advantage of those patterns, how and when to take action and what to expect when a diagonal is completed, and more important when it is completed. We will look at some samples on real time charts.
5. Elliott Wave School Part 5: Corrections
We will walk you through the rules and guidelines of different type of corrections, how to identify them, what is the personality of each corrective pattern, what to look for when trying to call an end of the corrective pattern, and when to take action. We will describe everything with channeling technique as well as the Fibonacci tool for each corrective pattern. We will also talk a lot about confirmation levels, what is this and why it matters. We will take a look at some of the trading examples, those that worked out well and some that didn’t, and the reasons why.
WHAT IS ELLIOTT WAVE?
The Elliott Wave Principle is a detailed description of how groups of people behave. It reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific and measurable patterns.
One of the easiest places to see the Elliott Wave Principle at work is in the financial markets, where changing investor psychology is recorded in the form of price movements. If you can identify repeating patterns in prices, and figure out where we are in those repeating patterns today, you can predict where we are going.
Using the Elliott Wave Principle is an exercise in probability. An Elliottician is someone who is able to identify the markets structure and anticipate the most likely next move based on our position within those structures. By knowing the wave patterns, you’ll know what the markets are likely to do next and (sometimes most importantly) what they will not do next. By using the Elliott Wave Principle, you identify the highest probable moves with the least risk.
ELLIOTT WAVE PATTERN (Motive and Corrective waves)
Elliott’s pattern consists of motive waves and corrective waves. A motive wave is composed of five sub-waves and always moves in the same direction as the trend of the next larger size. A corrective wave is divided into three sub-waves. It moves against the trend of the next larger size.
A picture above shows, these basic patterns build to form five and three-wave structures of increasingly larger size (larger “degree,” as Elliott said).
Waves 1, 2, 3, 4 and 5 together complete a larger impulsive sequence, labeled wave (1). The impulsive structure of wave (1) tells us that the movement at the next larger degree of a trend is also upward. It also warns us to expect a three-wave correction — in this case, a downtrend. That correction, wave (2), is followed by waves (3), (4) and (5) to complete an impulsive sequence of the next larger degree, labeled as wave 1. At that point, again, a three-wave correction of the same degree occurs, labeled as wave 2.
Note that regardless of the size of the wave, each wave one peak leads to the same result as a wave two correction.
Within a corrective wave, sub-waves A and C are usually smaller-degree impulsive waves. This means they too move in the same direction as the next larger trend. (In Figure 2 below, waves A and C are in the same direction as the larger wave (2).) Note that because they are impulsive, they themselves are made up of five sub-waves. Waves labeled with a B, however, are corrective waves; they move in opposition to the trend of the next larger degree (in this case, they move upward against the downtrend). These corrective waves are themselves made up of three sub-waves.
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