Elliott Wave Theory
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Elliott Wave Theory [1] is a theory named for Ralph Elliott, who contended that stock market trends move in discernable and predictable patterns reflecting the basic harmony of nature.
In technical analysis, it reflects a charting method based on the belief that all prices act as waves, rising and falling rythmically in a pattern of five up and three down. Waves reflect psychology or the marketplace as it makes its normal rallies and corrections. [2]
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References
- ↑ Glossary of Terms. Commodity Futures Trading Commission. Retrieved on April 25, 2008.
- ↑ Technical Analysis Terms. Lind-Waldock. Retrieved on April 25, 2008.
