The Elliott Wave Theory is explained in the following way: Five waves advance in the main trend's direction, followed by three waves in a correction (totaling a 5-3 move). The next higher wave move is divided into two subdivisions by this 5-3 motion.
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With Elliott wave theory, what time frame should you use? Elliott wave patterns are fractal in nature and should work for any time frame. As a result, the "optimal" time frame to pick is the one with which you are most familiar. You can use one-minute, five-minute, or one-hour candles if you're a day trader.
Elliott Wave Patterns are created based on the current market emotion, which cycles between bullish and bearish cycles. However, the Elliott Wave should not be seen as a technical signal, but rather as a theory that aids in the prediction of market behaviour.
Then, in 1678, Dutch physicist Christian Huygens (1629-1695) announced the Huygens' principle and created the wave theory of light.
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