This theory is named after Ralph Nelson Elliott, who concluded that the movement of the markets could be predicted by observing and identifying a repetitive pattern of waves.In the 1930's Elliott described the Wave Principle. He discovered that the stock market trend and reverse in recognizable patterns and this patterns link together to form larger versions of themselves.Although it is the best forecasting tool outhere, the Principle is not primarily a forecasting tool. It describes the in detail how the markets behave. The Wave Principle is most popularly use in the stock and futures market, but you would see how you can apply this to the Forex market, and anticipate changes in market direction. In the next sessions I will show you how to use the Wave Principle to profit in this great market.Before we get into more details about the theory take a quick look at the free video below. This will show you some examples of how the waves will help your trading. To better understant this theory, we will devide our sections in two main type of patterns:Elliot Waves Theory
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