THE ELLIOTT WAVE PRINCIPLE
®
Intermediate waves
®
Minor waves ©
Figure 2-1 Elliott subdivided the "perfect" stock market cycle into major,
intermediate, and minor waves.
The problem with this general market concept is that,
most of the time, there are no regular 5-wave swings. More often, the 5-wave
swing is the exception. To fine tune the concept, Elliott introduced a series of
market patterns which take care of almost every situation. The most important
ones are described next. Forex 101.
Forex Art Of Fibonacci (Forex 101)
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Forex Art Of Fibonacci (Forex 102)
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