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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).
There are many techniques in technical analysis. Adherents of different techniques (for example: Candlestick analysis, the oldest form of technical analysis developed by a Japanese grain trader; Harmonics; Dow theory; and Elliott wave theory) may ignore the other approaches, yet many traders combine elements from more than one technique. Some ...
If you believe the Elliott Wave Principle, a market-analysis theory that predicted the 2008 fall, you can expect it to get much worse. Stock analyst Robert Prechter, who uses the principle in his ...
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.
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