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Article: The Center for Elliott Wave Analysis. (Elliott Wave Analyser software)(1996 Guide to Computerized Trading)(Evaluation)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- July 1, 1996
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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The Elliott Wave Principle in principle
In the 1930s, Ralph Nelson Elliott made an amazing discovery.
He found that the emotional state of a crowd of traders moves in recognizable patterns. These patterns are reflected in the price movement of traded securities. The larger the crowd of traders, the more predictable the patterns.
Using the Elliott Wave Principle, a detailed analysis of market action will show the underlying swings from pessimism to optimism and back again that occur in mass trader psychology.
Elliott spent many years documenting and quantifying these patterns into a very strict and systematic set of rules and guidelines. Each ...