The Elliott Wave principle was first developed by an accountant, Ralph Nelson Elliott, to describe, and ideally predict, market cycles. Utilizing technical analysis and group psychology, it identifies ...

Stock market movements that seemed random to most analysts revealed a hidden order to Ralph Nelson Elliott. In the 1930s, during the depths of the Great Depression, the professional accountant set out ...

When it comes to Elliott Wave principle, the most important thing for me is to focus on clear wave structures. I don’t want to spend time on price action that is messy, choppy, and very hard to read.

In essence, Elliott Waves describes price movements as alternating between impulsive phases that establish the direction of the trend and corrective phases that oppose the direction of the trend. It ...