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The Elliott wave principle, or Elliott wave theory, is a form of technical analysis that helps financial traders analyze market cycles and forecast market trends by identifying extremes in investor psychology and price levels, such as highs and lows, by looking for patterns in prices.
He also has published monthly financial commentary in the newsletter The Elliott Wave Theorist since 1979, and is the founder of Elliott Wave International and New Classics Library. [4] [5] Prechter served on the board of the CMT Association for nine years, and as its president in 1990–91. He has been a member of Mensa and Intertel. [6]
Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author whose study of stock market data led him to develop the Wave Principle, a description of the cyclical nature of trader psychology and a form of technical analysis.
Like all Elliott waves, Grand Supercycle waves are subdivided into smaller generations of waves. The next smaller generation of waves are those of Supercycle degree. Modern applications of the Wave Principle also describe waves of larger degree spanning millennial periods of time.
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The first issue of the Theorist was published in April 1976 and has been continuously in print on a subscription basis since May 1979. The publication includes Elliott wave analysis of the financial markets and cultural trends, plus commentary on topics that include technical analysis , behavioral finance , physics, pattern recognition , and ...
Point and figure (P&F) is a charting technique used in technical analysis.Point and figure charting does not plot price against time as time-based charts do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.