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Indefinitely large force acting for a very short time but producing a finite changeĮach wave is allocated a number in an ascending sequence from the point of origin,ġ-2-3-4-5. Is described in Elliott terms as an 'impulse' - to convey the image of an Point is distant relative to its starting point. That it must develop so that its measurements expand activity, so that the termination
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This process is not exclusive to one direction -Ī trend can develop in either an advance or a decline. Progress or 'trend' is defined by a series of movements that unfold intoįive wave patterns. Some of the patterns define trend whilst others counter-trend - but all fall Thisīasic of functions is at the core of the Wave Principle and all patterns are subsumedīy it. The development of 'trend' and 'counter-trend',Īction and reaction or progression and regression evolving over and over again. Grasp the concept of the qualities of order, proportion, symmetry and harmony found in them.Īs universal law states, for every action there exists an opposite reaction in aĬontinually expanding state, and this is mirrored in the markets by
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Once these elements of the market are understood, then it becomes easier for the mind to
- Hierarchical - patterns build into varying degrees of size that are connected through their relative proportionate relationships which necessitates the categorising of each into a hierarchical order so that the correct sequence can be determined for ongoing development.
- Their continuity ensures each preceding sequence is the determinant factor for how the next evolves.
- Relativity - patterns are repetitive and intimately linked together through their relative relationships.
- Ratio & Proportion - patterns evolve and measure to a harmonious set of mathematical relationships.
- A fractal object looks the same when examined from far away or nearby.
- Fractal - a term that describes patterns that are 'self-similar' on all scales of size.
- Non-linearity- pattern and form appear to unfold in punctuations of alternating directional movement rather than flowing in a constant, linear straight line.
- To market price behaviour, there are a further five characteristics that are essential In order to conceptually understand the manner in which the Wave Principle is applicable