Elliott wave theory is a technical analysis approach used to analyze the price movements of securities. It is based on the idea that markets move in a recurring pattern of five waves, followed by three corrective waves. These waves can be used to predict future price movements and identify potential entry and exit points for trades.The five waves are labeled 1 through 5, and are typically composed of three impulse waves (1, 3, and 5) and two corrective waves (2 and 4). The three corrective wa...
