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Igor

Wave Definition

By Igor, in Trading Dictionary

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Igor    10

Igor
Posted

The wave pattern is the basis of the use of the Elliot Wave indicator in technical analysis. Using wave patterns for trading enables a trader to buy on the dips and sell the rallies. In other words, a trader can buy at the end of a downwave and sell at the top of a wave crest. If the price depiction on a chart is done in the form of a line chart, we see that the price movement of the asset is not in a straight line but rather in a succession of crests and troughs as the market flows and ebbs, just like we see in an ocean wave being ridden on by surfers.

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