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Article: Building the wave. (making the Elliott Wave objective)(Technology & Trading)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- April 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Elliott Wave was once canonized as the indicator of the century. Recently It's fallen out of favor. Perhaps that isn't the indicator's fault, but those who do the analysis. Here's a way to keep it objective.
Elliott Wave is an extremely subjective analysis method. Based on the works of R.N. Eliott, it states that movements of the markets follow given patterns and relationships based on human psychology. Because of its subjectivity, mechanizing Elliott Wave analysis would give it objectivity and increase its guidance or forecasting power.
Elliott Wave has several nuances in addition to its classical five-wave pattern, the most useful and best known area of this ...