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More About Elliott Wave Theory

Within the Elliott Wave Theory, there are a series of categories to describe the waves in order of the largest to the smallest.

Grand Supercycle









Ralph Elliott discovered that all patterns are built in the same way. His impulsive wave, which goes with the main trend, always shows five waves in its pattern.

Within each of the impulsive waves which are on a smaller scale, five waves can be found. In these smaller patterns, the same pattern repeats itself again and again. These smaller patterns are each labeled as different wave degrees within the Elliott Wave Principle.

As with any theory that is new to you, this probably all seems a little confusing. That may be due to my poor explanatory skills. If it is, I apologise. However, it is vital that you get some sort of understanding of this principle in more depth.

Simply put, to make investment profits you are competing against the rest of the global investment community. They ALL know how this stuff works and if you plan to be involved, it is vital that you understand some of it too. You may not feel it necessary to be able to analyse these things yourself (I don't), but when you read and article or newsletter of note, you will find it useful to understand the wave patterns they talk about. It all comes from Elliott Wave Theory.

Most other trading strategies refer to EWT somehow. If you get the chance, I urge you to spend some time reading one of Robert Prechter's books on the subject of Elliott Wave Theory. It will help you immensley.

To read more about Elliott Wave, please also visit:

Elliott Wave Theory

Elliott Wave