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The Elliot Wave Analysis
The Elliott Wave Theory, which is derived from the ‘Elliott Wave Principle’, was introduced by Ralph Nelson Elliott in 1938. According to this theory, forex (and other assets, for that matter) markets follow a recurring pattern of 'Waves', hence the term 'Wave Analysis'. These waves are indicative of major market patterns, depicting macro level market sentiments. They help in anticipating future price trends and market direction.
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