What are the different types of Elliott Waves?
Elliott Wave Theory is a financial market forecasting tool based on the idea that prices always move in repetitive patterns or waves. There are different types of Elliott Waves, including the impulse wave, corrective wave, zigzag wave, flat wave, triangle wave, and double/triple zigzag waves. The impulse wave is the main overall trend, while the corrective waves move against that trend. The zigzag wave moves in a corrective manner, while the flat wave moves in a sideways corrective manner. The triangle wave moves in a pattern that converges to a point, while double/triple zigzag waves form two or three zigzag patterns connected to each other. Understanding the different types of Elliott Waves can help traders identify potential trading opportunities and make informed decisions.
This mind map was published on 17 May 2023 and has been viewed 59 times.
