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Imogen Cleland


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The Elliott Wave Principle captures the essence of trader psychology. It is an effective, visual representation of traders' human nature to follow 'in a crowded path' extreme optimism followed by extreme pessimism, and then repeat the process again and again. The Elliott Wave patterns capture the continuous unfolding of the extremes depicted as Stock Market sentiment.

Traders cannot rely on news and events to drive the Stock Market. History has shown that news and events related to the Market have no consistent effect on its direction because of the influence of unfolding Market sentiment. For instance, Market reaction to the same news can be extremely positive at one given time, but then extremely negative at another given time.

Elliott Wave patterns display to the trader the most likely future Market direction based on current pattern structure. By understanding Elliott Wave pattern characteristics, a trader can identify higher probable outcomes from lower probable outcomes thereby reducing investment risk.

The classic Elliott Wave patterns consist of impulsive and corrective waves. An impulsive wave moves in the same direction as the current trend and is made of five sub-waves. A corrective wave moves against the current trend and is made of three sub-waves. Elliott Wave DNA http://elliottwavedna.blogspot.com

The formation of sub-waves can be extremely varied. However, general tendencies to note for trading purposes are as follows:

In addition, traders can increase their probability of success by placing entry and exit points near levels favoring a change in Market direction. For example, placing an entry for a long position near the start of an upward impulsive wave has a higher degree of being successful than placing an entry for a long position near the end of an upward impulsive wave.

Forecasting Market direction from Elliott Wave patterns does not provide certainty, but rather a probability of Market direction. There can be more than one valid interpretation of wave patterns, each carrying a probability of being an accurate portrayal of Market direction.

Traders should keep in mind that it is typical for Elliott Wave patterns to be continually reassessed and altered as Market sentiment unfolds to provide a higher probability of Market forecast. Alteration of wave patterns should be viewed not as a weakness, but as a strength. To be sure, the Market is quite dynamic; therefore, any tool used to help forecast the Market must be dynamic, too.
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About the Austin Children's Shelter

Austin Children's Services provides a services designed both to treat and prevent child abuse and neglect. Their residential program, Austin Children’s Shelter, provides emergency shelter for children removed from their homes; a transitional living program for youth preparing to age out of foster care; and a teen parent program to help break the cycle of abuse. These children and youth receive intensive educational, counseling, medical, and case management support to help them feel safe, heal and make a positive and lasting difference in their lives. The community-based programs include foster family placing services through Foster in Austin; therapeutic prevention programs that work with at-risk families through Strong Start; and Care Academy, a child development and family support center that offers affordable child care, parent education and coaching, and more.


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