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What is Elliott wave analysis?

April 26, 2017analysis Elliott wave

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What is Elliott wave analysis?

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The Wall Street Journal stated it best in a March 1987 news article, “The idea behind the Elliott Principle is that stock prices are a barometer of the national mood and that mood moves in predictable waves between optimism and pessimism.” So, Elliott wave analysis is used to analyze these predictable patterns in order to have a better idea of where the markets are likely to go next.