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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.
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.
The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations.
Modern applications of the Wave Principle also describe waves of larger degree spanning millennial periods of time. [ 2 ] 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 ...
At the time of his death, Dow Theory Letters was the longest-running service continuously written by one person in the business. [7] After Russell's passing, the letters continue market coverage by associated analysts. Russell has also been cited by Bob Prechter using the Elliott wave principle [citation needed].
Download as PDF; Printable version; In other projects Wikimedia Commons; Wikidata item; ... Elliott wave principle; The Elliott Wave Theorist; F. Fibonacci retracement;
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 ...
Gilinski is most notable for forecasting the direction of the macro markets using Fibonacci sequences and numbers and the Elliott wave principle, a research method based on sentiment, wave counting, and contrarian technical analysis. [5] His firm, Brickell Analytics, owns the registered trademark Rising Yield Deflation. [6] [7]