Stock Market Technical Analysis Courses Hyderabad Ameerpet

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AS Chakravarthy NCFM Academy Hyderabad Stock Market Technical Analysis : Elliot Wave Theory

Stock Market Technical Analysis Courses Hyderabad Ameerpet,

Elliot wave Theory is widely accepted in technical analysis named after Ralph Nelson in 1920’s.

The Elliott wave indicator is a popular tool that allows traders to predict the repetitive and cyclical nature the currency market. Elliott Wave theory that is seemingly disorganized behavior of the different financial markets isn’t actually not organized. In fact the markets move in predictable, repetitive cycles or waves. These waves are a result of influence on investors from outside sources primarily the current psychology of the masses at that given time.

Elliott wave predicts that the prices of the traded currency pair will evolve in waves: five impulsive waves and three corrective waves. Impulsive waves give the main direction of the market expansion and the corrective waves are in the opposite direction.

Elliot wave traders use their wave count in combination with Fibonacci number to predict the time span and magnitude of the future market moves ranging from months years and decades.

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How Elliott Waves Work

Elliott Waves Theory consists of impulse and corrective waves at its core:
==> Impulse Waves – This consists of five sub-waves moving in the same direction as the trend of the next largest size.
==> Corrective Waves - consists of three sub-waves moving in the opposite direction as the trend of the next largest size.
==> Wave 2 can retrace more than 100% of wave1, wave 4 can now enter the price territory of wave 1 , wave 3 is now the shortest wave.

How to Read Elliot Waves

In order to identify an Elliott wave the pattern must satisfy the following conditions:

            Wave 1 > Wave 2 < Wave 3 > Wave 4 < Wave 5

A corrective component consisting of three waves implies a countertrend in the opposite direction to its preceding impulse pattern.

The corrective pattern then must satisfy the following conditions:

            Wave A > Wave B < Wave C

There are other patterns within Elliott waves but the impulse and the corrective components are the most used ones when it comes to technical analysis of trends.

BOTTOMLINE

Elliot Wave Theory has detractors like many other theories in technical analysis. Even accurate counts traders will need to re valuate and adjust counts as new price information emerges.

We explains the technical and fundamental aspects of each lesson and combines it with examples from his 30 years’ experience in the stock market. AS Chakravarthy has done painstaking work to teach each and every topic in such an unforgettable manner.

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