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level: Level 1 Basic Terminologies

Questions and Answers List

Question	Answer
The primary mover of stock prices is __________. Stock market’s fluctuations are not caused by events, but by emotionally-based reactions to these events…..	mass emotional change
In order to measure mass psychology, the action of the composite mind must be expressed in figures and plotted on a _________.	chart
When plotted, the resultant chart will show a _________.	pattern
These patterns follow definite ______	rules
Wave analysis quantifies mass human psychology as it is reflected in prices and the essence of wave analysis is the ___________ in market movements	identification of patterns
All human activities have three distinctive features -	patterns, time ratio
all of which observe the	Fibonacci Summation Series
Once the waves can be interpreted, the knowledge may be applied to any movement, as the same rules apply to the price of stocks, bonds, grains, cotton, coffee and all other human activities.	The most important of the three factors is pattern. A pattern is always in process of formation. Usually, but not invariably, the student is able to visualize in advance the type of pattern that preceded it