Elliott Wave Pattern

Wave markup - graphical analysis of exchange instruments, including currency pairs on , which is based on Elliott wave theory.

The basis of the wave pattern is the concept of market cycles and market waves, which were introduced by Ralph Nelson Elliott.

Elliott conducted market research and compiled a list of graphical patterns that are the most common on price charts and describe various stock market conditions. Basically, such patterns are 3- or 5-wave structures that allow a trader to identify trend and correctional movements, as well as to forecast reversal points.