Elliott Wave Theory proposes that waves come in several "degrees" and are themselves fractals of larger waves. The basic structure of motive and corrective waves applies to all waves. Practitioners of Elliott Wave use labels for different wave degrees, from those wave that occur matter of minutes to waves that taken hundreds of years to unfold. All waves are theorized to have a direct relation to the Fibonacci sequence in time and price.
The following labels were proposed by Ralph Nelson Elliott on his works on Elliott Wave Theory.
Grand supercycle - Hundreds of years
Supercycle - Several Decades (about 40-70 years)
Cycle - One year to multi-year waves
Primary - Few months to couple of years
Intermediate - Weeks to months
Minor - Week
Minute - Days
Minuette - Hours
Subminuette - Minutes
Orthodox Elliott Wave practitioners do not factor in inflation in their wave counts. Victor C. Ling of Elliott Wave Trends proposes wave counts adjusted for inflation.
No comments:
Post a Comment