Elliott’s wave theory is actually presented to describe price movements in financial markets. In this way, waves can be identified in stock price movements and in the behavior of traders. Investors are trying to profit from the market trend in some way. For example, a major move by homeowners to replace their current tenants with new tenants who are in better shape acts as a “refinancing wave."
Ralph Nelson Elliott :
Elliott introduced the “Elliott Wave Theory" to the capital market in the first half of the twentieth century. Examining prices in the capital market, he found that not only are price changes perfectly regulated, but they also follow a specific structure that is in perfect harmony with nature. With this discovery, he was able to design a mechanism to predict price movements in the capital market. Elliott did this by inventing patterns that were repeated in the market on a regular basis.
Elliott believed that wherever there was a lot of activity, people’s movements were based on a natural rule that he called wave theory, derived from the movement of sea waves, and of course full. Clearly, the biggest manifestation of such ups and downs is the capital market.
With the help of his astonishing intelligence and genius, Elliott was able to compile a set of principles and rules by examining the diagrams of the Dow Jones industry, which at the time justified all the movements of the financial market of that time until 1940.
In those years when investors believed that it was impossible for the Dow Jones Industrial Average to break the 1929 ceiling and experience higher numbers, Elliott predicted an ever-increasing market for decades, and today we see most of his predictions come true. Found.
The more we reflect on unpredictable economic conditions such as recessions, major wars, post-war reconstruction, and economic prosperity, the better we realize that Elliott’s theory of waves is perfectly suited to the realities of life. This makes this undeniable principle even more reassuring.
In 1939, Elliott’s theories, with the help of CG Collins, came to the attention of Wall Street in an article published in the Financial World magazine. During the 1950s and 1960s (after Elliott’s death), Hamilton Bolton continued his work. In 1960, Bolton wrote the book The Origin of Elliott Waves. After Elliott’s death, it was almost one of the first major works to be done.
Robert Prechter :
Robert Prechter collected and rewrote Elliott’s manuscripts, and the re-introduction of Elliott’s waves is due to his efforts.
After Elliott and his colleague Bolton, it is safe to say that he was the first to begin researching and developing Elliott waves. Elliott waves, like any other science, require further development and updating over time so that they can keep pace with changes over time.
Elliott spent most of his time on the basics and patterns of patterns, especially impulsive waves, so over time, as the number of traders increased, so did the complexity of the market, making it more difficult to work with Elliott’s theory of waves. Prechter was able to add more explanations to the main theory, including useful explanations about the continuation of impulse patterns, channeling, rotation, mathematical and Fibonacci aspects in Elliott waves, brief explanations about the standard correction (correction, correction) and many explanations. He gave a brief overview of complex compounds in functions.
There were a lot of impulse waves in the charts at the time, so it might not be helpful to look at hard and difficult functions. Most of the additional explanations provided by the doctor, although very useful at the time, published almost all of them in the form of a “guide."
This was one of the biggest weaknesses of the perimeter, as in practice “guides" were not mandatory rules that could play a major role in the decision-making of traders. If these guides were in a chart, the patterns would be closer to the more ideal ones, and if they weren’t, there would be virtually no problem with the Elliott patterns and counts. There were still two major problems in the market for Elliott traders. Lack of strict rules for detecting impulse waves and inaccurate explanations of functions.
Interestingly, Robert is a psychology graduate who developed Elliott’s theory into economics, society, politics, and so on through the theory of Socionomics. Learning Elliott’s wave theory is due to his astonishing predictions in this way, and the majority of wave analysts in the world follow him.
Robert Ballan was one of the other professors who actually pursued the perimeter and was able to further develop complex functions. Despite further development of complex functions, Balan still failed to find the binding rules in this regard, and also failed to discover the missing link in the discussion of the degree and manner of action of these complex compounds with adjacent patterns. Jeffrey Kennedy also failed to add more useful content to Elliott and tried to address the practical applications of Elliott in the market. Wayne Gorman and Constance Brown and most of the other professors have been mostly following Robert.
Glenn Neely :
Glenn Neely, the last known professor and genius of the Elliott world, began further research in 1980. This research was conducted in order to accurately and technically clarify the impulse patterns and standard and non-standard functions and their microscopic differences. Finally, this research was completed in 1987 in the form of the book Mastering Elliott Wave Analysis.
Over the years, Glenn Neely has been able to overcome most of the weaknesses of previous methods and revolutionize Elliott’s wave theory. Practices a practical approach to market analysis. This innovative approach, known as the Nile-style Elliott Wave analysis, is known as NeoWave.
While studying this style, you will quickly realize that it is unlike any other style in the field of market analysis. What has been introduced in this style is the first step-by-step approach to Elliott’s wave theory that has been written so far. There is no aspect of this theory that you want to reflect on. All the details are perfectly described so that each sentence is dedicated to something.
Over the past 37 years, Glenn Neely has been able to prove the neo-Vivo style with his unparalleled predictions. His latest prediction is that the global gold price will fall from $ 1,900 to $ 1,000, which is not among the best analysts in the world, and many called him “crazy" in their publications five years ago.
The main differences between the Nile style and other Elliott styles can be summarized as follows:
. Defined ambiguous single-wave definitions in bar charts (or Kendall Steak) by inventing a linear data called data cache.
● Develop additional rules about impulse waves to end the “ifs" in the “guides".
● Develop structural rules to link each pattern to the Hungarian pattern.
● Develop precise and fully applicable degree rules in order to combine patterns.
● A very complete description of all standard functions with the invention of unique rules.
● A very complete description of complex functions and how they interact with other market patterns by inventing psychological rules.
● Inventing the rules of logic in the market and drawing a line of invalidity on a purely mathematical view of the market.
We can talk for hours about Glenn Neely and the features of this unique style. The biggest drawback of this system is that it takes time to learn, which Nili has repeatedly emphasized and cannot be learned in a short time of one or two months.
Robert Miner :
Miner style is a trading style, not an analytical one, so Miner does not use a special analytical style (price, pattern, time) but uses the available tools optimally, which may be derived from the information and analytical style of others.
To have a successful art transaction, using Elliott only in the direction of a successful entry and exit in trading, more use of different market dimensions than price is one of the most prominent features of Miner style.
His greatest focus is on having an ideal trading position with the highest probability of success from entry to exit. He uses any new perspective to improve this situation. According to Miner, using Elliott can be effective as long as it helps to create an ideal trading environment. There is a special subtlety in the type of entry and exit of the market from Miner trading style features.
Ian Copsey :
Elliott Wave Principles are widely used by traders to predict market cycles, But Ian Coopsy discovered a fundamental flaw in the way structures develop that define price behavior. In his book, Harmonic Elliott Wave, he explains how to modify the structure of Elliott’s motivational waves and shows what is wrong with the wave principles, and allows us to have a more accurate trading forecast by determining the adjustment structures.
Ian Copsey argues that the method that led to this discovery is a common mathematical relation that connects different parts of a wave structure. He provides valuable practical examples to illustrate his findings. Ian Copsey shows how waves are actually evolving and refute the misconceptions that Elliott’s analysts have been promoting for years. He defends his methods by arguing that waves must have common commonalities and helps the reader of the modified version to apply wave principles with greater understanding and accuracy.
Ian Copsey believes that there is a fundamental flaw in Elliott’s popular wave principles, and states that his adjustment method has corrected these errors by trial and error to provide more accurate analysis. And they have reached the level of skill or mastery.
Published and authored by FalconProfit.com