Elliott Wave Theory: Everything You Need To Know

Ewmonitor26 Dec, 2021Finance

Elliott Wave Theory, Elliott Wave Principle, or Eliott Waves was discovered by Ralph Nilsson Elliott. He developed the analytical tools in the 1930s, and utilized understanding of crowd psychology and social trends to chart. Elliott developed a rational system of market analysis. He proposed that market prices unfold in specific patterns, and isolated 13 patterns of movements that recur in the market price and are repetitive but not necessarily in time or altitude. He named, defined and illustrated the patterns and linked them together to form a larger version of those same patterns. These patterns, in turn, link to form identical patterns of the next larger size.