swap15 Jul 2013 22:48
Moreforus........ market moves are described by a five-wave series, adding to the potential to identify the turns ...... The classic Elliott Waveseries consists of an initial wave up, a second wave down (often retracing 61.8% of the initial move up), then the third wave (usually the largest) up again, then another retracement, and finally the fifth wave, which would exhaust the movement............. In addition, each of the major waves (1, 3, and 5) could themselves be separated into subwaves, and so on, and exhibit other Fibonacci relationships.................