Today Market behavior & its Corrective structure

When i see a person starts labeling the Elliott wave theory without understanding it , how exactly it works i know he or she dont have proper knowledge and some try to make it look like they know everything , in reality market works completely different form their views
So what has changed and what is causing the retail traders ?
The answer is understanding the correction in the middle of the trend , any one can throw a dart in the Middle of impulse leg and can become successful trader but when market enters in correction every starts loosing because they do not have an proper understanding , How the corrections can unfold and how the corrections can lead us what will happen next
Here i have made an visually represented an series of pattern which are inter-connected with each other
Whenever you see the impulse is being challenged with sharp correction or sharp drop in price action consider the time for pause in the impulse move , and this correction when it unfolds it gives an idea what kind of pattern it will lead during its formation ,
R N Elliott did a Very Grate job by simplifying it and giving them a name and labeling them to understand what exactly they are ( You can label them with your name or any alphabet you like ) he also gave an guidelines how to identify these and trade in the direction of larger trend for becoming successful trader
Now i am not going to talk about all the wave theory here , but i have given an visually represented hint , Now Google Elliott wave principal and read it , understand it then start practicing it

Good luck

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.