Elliott Waves represent patterns of mass behavior, and the Elliott Wave Principle is based on the belief that those patterns always tend to repeat. People's behavior is nothing more than the predictable movement from optimistic to pessimistic mood and vice versa. There is nothing that might happen, that already hasn't been seen and that already has no form. Is it possible to set out to analyze the market and predict the future just by holding a map called Elliot Waves? After the introduction, the thesis begins with defining the term of financial investments and their basic characteristics. Market analysis is necessary in order to make the right decisions in financial investments. Both fundamental and technical market analysis are compared, but the technical analysis is described in details, since the Elliott Wave principle is one of the theories in techical market analysis. What follows is the definition of Fibonacci numbers which are the mathematical basis of Elliott Waves. The chapters covering the Elliott Waves and financial investments are a separated. The Elliott Wave principle is described from its origin to its complete development. Wave patterns are defined as well as their types, construction and characteristics. The rules and guidelines used as a basis for market analysis are sumarized. After summing up the theoretical part, the practical examples are shown. To complete the subject, same critiques on the Theory are listed. In the very end, the conclusive thoughts regarding the subject have been brought up, and the literature used to find key information and data is listed.