If we link the tops of each bar we get a line that changes direction and sort of looks like ocean waves. Elliott quickly seized
this similitude and defined a wave as: series of successive bars where each high is equal or higher than the
preceding one and each low is higher than the previous one, conversely series of successive bars where each
low is equal or lower than the preceding one and each high is lower than the previous one. If we apply this to our
chart using the AlphOmega Absolute Elliott indicator, we get the following…