If you want to understand what the market is doing, the best thing you can do is spot these pattern combinations.
Elliott's wave principle is not a theory, it's a principle. that word itself means it explains the behavior of the waves. how they start. it's a big different concept from a hypothesis, which may or not happen, a theory.
We get impulsive, corrective, impulsive sequence every time the market moves. slow, and fast movements. At a certain Fibonacci levels and proportions, these pictures get drawn in every time frame.
When smaller forms are completed, they start drawing bigger formations. the bigger the formation, the more significant movement is coming. and inside bigger formations, smaller patterns can be found. Size translate into different time, price and shapes.
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Lito
-------------------------------------------------------------- The Wave Principle begins with the fact that everything in the universe moves according to the Law of Nature following a mathematical pattern of contraction and expansion. (Fibonacci). This applies to human beings and everything created by them, including the financial market. According to the Wave Principle, markets always move in waves of action and reaction (impulses and corrections) of greater and lesser degree. Different shapes, strength, and time to complete. Recognizing these patterns with Fibonacci and Golden Ratio (Phi | 0.618) can help us understand the market behavior to anticipate the next move.