In the forex learning section 15 Ankan have you learned about Elliot Wave Theory.
Elliot Wave
In the instant elliot wave is a theory invented by Ralph Nelson Elliot indicating that the chaotic behavior has remained on the market can be predicted, the market moves in a wave formation that occur repeatedly. Indeed, every trader almost always respond the same way to the same events
Subject of evolution, market movement will form a 5 wave (wave) and 3 correction
Examples of the trend is rising: ..
Wave 1 :. rates start moving up, this happens because some traders felt it was time to buy, or is it the time price reverse
Wave 2 :. market begins to saturate, and some traders profit so the price is falling, but not until the lower ttitik
wave 3 :. Price moves along, because traders others began to realize was happening trend, so it would fit the trend
wave 4 the price down as some traders use to evaluate the price was too high and will reverse the direction
Wave 5 :. prices rise because most traders see, there was a clear trend, so they are expected to follow the trend, even though it is already very overbought.
correction to 1 : Price-round because it was too high and overbought
correction to 2 : .. prices go looking for a balance to find the starting point
correction to 3 : Down Price is longer than the correction to 1 this form correction actually
After forming wave 5 and 3 Corection, then the price will usually follow the trend established by 5 wave
learning materials is next on forex technical analysis Chart Patterns
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