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Elliott's theory relies on analyzing price charts to identify wave patterns, which are fractal in nature, meaning they repeat across different timeframes, and discern what prices may do next; thus the application of the Wave Principle is a form of pattern recognition.
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.
Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.
A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis.
The Elliott formula describes analytically, or with few adjustable parameters such as the dephasing constant, the light absorption or emission spectra of solids. It was originally derived by Roger James Elliott to describe linear absorption based on properties of a single electron–hole pair. [ 1 ]
As invoked in everyday life, the "law" usually reflects wishful thinking or a poor understanding of statistics rather than any mathematical principle. While there is a real theorem that a random variable will reflect its underlying probability over a very large sample, the law of averages typically assumes that an unnatural short-term "balance ...
The History of India, as Told by Its Own Historians is a book comprising translations of medieval Persian chronicles based on the work of Henry Miers Elliot.It was originally published as a set of eight volumes between 1867–1877 in London.
the Pareto principle, which requires any change such that all gain. the (strong) Pareto criterion, which requires any change such that at least one gains and no one loses from the change. In non-hypothetical contexts such that the compensation occurs (say in the marketplace), invoking the compensation principle is unnecessary to effect the change.