Elliote Wave Theory discovered by Ralph Nelson Elliott’s. Elliote wave theory broadly tells you that social, or crowd, behaviour trends and reverses in recognizable patterns. but doesn’t mean it will help in long term investing it will be used by many practiceners even in shorter time frame. On basis of past data majority of time Elliote wave principle grossly correct. On basis of trade data as his main research tool, Elliott is thirteen patterns of movement, or “waves,” that recur in market price data. Nelson Elliott then described how these structures connect together to form bigger versions of the patterns, how those in turn connect to form identical patterns of the next larger size. Finally Wave Principle is a catalog of price patterns and an dicription of where these forms are likely to occur in the overall path of market development. Finally we can say wave principle work in Equity market, Derivative market, Commodity market, Currecncy market.
