What is Elliott Wave Principle?

Elliott Wave Principle is a form of Technical Analysis Tools also known as Elliott Wave Theory was discovered by R. N. Elliott in 1930’s that can identify Repetitive Patterns that occur in Financial Markets consisting of complete Crowd Psychology. The Wave Patterns and Structures help Traders to Forecast the Trend in the Market and take Trading Calls to Buy or Sell Stocks.

Elliott identified 13 Wave Patterns that occur in Market Price which can be analyzed on Charts which are Repetitive in Nature. Elliott defined several Rules & Guidelines in Identifying & Forecasting the Markets.

ProWaveAnalysis uses Elliott Wave Analysis as its Primary Technical Analysis tool in Forecasting the Markets.

You can find in depth details on Elliott Wave Principles on ElliottWave Website.

An Introduction to Wave Analysis and Wave Principles can be found at the following link: