📍 What Is Elliott Wave Theory?
In technical analysis, the Elliott Wave theory is the analysis of long-term trends in price patterns and how they correspond with investor psychology. These price patterns, referred to as ‘waves’, are built on specific rules that were developed by Ralph Nelson Elliott in the 1930s. Specifically, they were designed to identify and...
Hello guys, in this technical analysis I want to speak you to Monthly from Daily timeframe what I expect of this par!!!
Lookin in Montly, we are in the elliot wave correction ABCDE, and that mean a possible bullish this pattern, because we are into in the ascendent triangle with expectative so bullish for long term!!!
But more important is this screenshoot...
Ending diagonals are motive wave patterns yet not impulses, as they have two corrective characteristics (wave 4 must always enter the price territory of wave 2). ED's usually take the shape of a wedge and in all cases, they are found at the reversal points of the larger patterns, showing exhaustion of the larger movement. I usually confirm that I have an ending...
