ARTICLE SYNOPSIS ...Applying the Elliott Wave theory by Clarence J. Liataud The validity of the Elliott Wave theory can be proven by p applying its wave sequence to any long-range commodity or stock chart. The reason most analysts have trouble applying this theory while prices are unfolding is the difficulty in determining the shape and size of a current correction. However, if you keep in mind that after the first and third wave (whatever their size) there will be a correction, and only a correction, you will know what price action to expect. The various shapes of corrections are below. To apply the Elliott Wa...