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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.
In 1979 Prechter left Merrill Lynch and published the first subscription issue of the Elliott Wave Theorist.The 1970s had been very bullish years in the gold market but mostly bearish for stocks, yet his Elliott wave analysis called for a long-term reversal lower in gold (February 1980) [5] [14] and a long-term "super bull market underway" in stocks (October 1982).
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.
Modern application of Elliott wave theory posits that a Grand Supercycle wave five is completing in the 21st century and should be followed by a corrective price pattern of decline that will represent the largest economic recession since the 1700s. [3]
The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, Elliott wave principle, and more. After a significant movement in price (be it up or down) the new ...
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The Elliott Wave Theorist is a monthly newsletter published by Elliott Wave International. 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 Elliott Wave does not: it is sufficiently malleable that any failed forecast can be retroactively explained with new parameters for the "wave." THF 17:11, 28 July 2007 (UTC) [ reply ] Please read WP:Talk : Article talk pages should not be used by editors as platforms for their personal views.