In 1930, studied Ralph Nelson Elliott, a corporate accountant by profession movements of prices, financial markets, and find that some patterns are repeated. He offered proof of his discovery by making astonishingly accurate stock market forecasts. What appears random and independent, Elliott said, will actually draw a recognizable pattern once you learn what to look for. Elliott called his discovery "The Elliott Wave Principle" and its consequences are enormous. He identified the common link that drives the evolution of human affairs, the financial markets to fashion, from politics to popular culture.
Robert Prechter, Jr., President of Elliott Wave International, resurrected the Wave Principle of darkness close in 1976, when he discovered the complete body of RN Elliott, the work of the Library in New York. Robert Prechter, Jr. and AJ Frost published Elliott Wave Principle in 1978. The book has received rave reviews and became a best-seller on Wall Street. In principle, Elliott Wave, Prechter and Frost forecast called for a roaring bull market in 1980, followed by a record drop in the market. Needless to say, the information on the principle of the waves between private and professional investors strong growth in 1980.
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