The Basics of Elliott Wave Theory

Per StockCharts, Elliott Wave Theory “a method of market analysis that is based on the idea that the market forms the same types of patterns on a smaller timeframe (lesser degree) that it does on a longer timeframe (higher degree) and that these patterns provide clues as to what might happen next in the market.”

According to the theory, it does not depend on what timeframe you are analyzing; market movements follow the same types of patterns:

For more trends, visit the Leveraged Inverse Channel.