Robert Prechter is a famous proponent of Elliott Wave analysis. He correctly predicted a large bull market in 1982 and also accurately called the market top shortly prior to the 1987 crash. Prechter’s Elliott Wave International (EWI) is the world’s largest market forecasting firm. Prechter attended Yale University on a full scholarship, graduating in 1971
A technical analysis market timing strategy published by Ralph Nelson Elliott. Elliott Wave Analysis is based on repetitive wave patterns and the Fibonacci number sequence. The theory asserts that the stock market moves up in a series of five waves and down in a series of three waves, predicting price movements on the basis of
Three Stars in the South is a three candlestick bullish reversal pattern. The pattern occurs in a downtrend, where the first candle is long bodied and black with a long wick. The second day looks similar to the first and has a higher low than the first candle. The third candle is a Marubozu which
Rising Three Methods is a five candlestick bullish continuation pattern. The pattern occurs in an uptrend where the first day is a long bodied white candle. This is followed by three small bodied candlesticks where each trends lower and closes inside the body of the first candlestick. The pattern is completed by a long bodied
Three Outside Up is a three candlestick bullish reversal pattern. The pattern occurs in a downtrend and begins with a candle in the direction of the trend. The second candle’s real body engulfs the first days body. The third candle closes higher than the previous day.