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Elliott recognized that the Fibonacci sequence denotes the number of waves in impulses and corrections. Last, traders can neglect the importance of analyzing the larger market context, failing to consider factors such as trendlines, support and resistance levels , or broader technical indicators. As mentioned in the last section, Elliott Wave Theory suggests guidelines for the typical relationships between waves. Uptrend in Technical Analysis: How to Trade and Examples Uptrend is a term used to describe an overall upward trajectory in price. Hudson
