#CurrencyPairPrediction Elliott Wave Theory is a technical analysis approach that posits that market prices move in specific patterns called waves. These patterns are believed to reflect the collective psychology of investors, which oscillates between optimism and pessimism. A full Elliott Wave cycle consists of eight waves: five motive waves that trend in the direction of the main trend and three corrective waves that move against the main trend. The motive waves are labeled 1 through 5, and the corrective waves are labeled A, B, and C. Within each of these larger waves, there are also smaller waves, creating a fractal-like structure where the same patterns repeat at different degrees of scale. Identifying these wave patterns can help traders anticipate the direction and extent of future price movements. However, Elliott Wave analysis can be subjective, and accurately labeling the waves can be challenging. It often requires a degree of interpretation and is most effective when used in conjunction with other technical analysis tools to confirm potential wave counts and trading opportunities.