Elliott Wave Theory is a popular method used by technical analysts to analyze financial markets, including the stock market. It is based on the idea that markets move in repetitive patterns due to investor psychology, and it identifies specific wave patterns that are indicative of the market's overall trend.
However, it is important to note that Elliott Wave Theory can be subjective and open to interpretation, and its application to candlestick patterns may vary depending on the analyst. In general, Elliott Wave Theory recognizes two types of waves:
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