Intro

then waves are formed like the picture on the left side.

In 1938, Ralfe Nelson Elliott, Published a Book on wave principle for financial markets.  He applied

them mostly to Newyork Stock markets, stock data.

His book still is applicable to markets all over the world including the Currency or Forex Markets.








There are two types of waves, they are Actionary and reactionary waves.  If the Markets in Uptrend then wave formed looks like the picture. Upward moving are actionary and downward moving are reactionary, in an Uptrend.

 If the Markets in Downtrend then wave formed looks like the picture. Downward moving are actionary and upward moving are reactionary, in a Downtrend.