lliott Wave Theory is a unique and independent analytical instrument that, with certain experience, yields impressive results. However, the Theory has not been formalized yet, does not have a shape of a trading system, hence, the result depends on the subjective interpretation of the analyst-trader.
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In this article, we will speak about the inner structure and the peculiarities of market waves. We will discuss the multilevel model of the market cycle and its consistent parts – subwaves of various complexity and levels.
Let's get acquainted with the history of its appearance and development, its main statements and rules of Wave analysis.