- Hardcover: 256 pages
- Publisher: John Wiley & Sons (7 Jun 2011)
- Language English
- ISBN-10: 0470828706
- ISBN-13: 978-0470828700
- Product Dimensions: 23.4 x 16.1 x 2.2 cm
- Amazon Bestsellers Rank: 257,893 in Books (See Top 100 in Books)
- See Complete Table of Contents
Harmonic Elliott Wave
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More About the Author
Product Description
Product Description
An update to the Elliot Wave Principle that corrects a fundamental error
The Elliot Wave Principle has been widely adopted as a tool for traders analyzing market cycles, but Ian Copsey has unearthed a fundamental error in the way it defines the structural development of price behavior. Harmonic Elliott Wave: The Case for Modification of R. N. Elliott′s Impulsive Wave Structure explains what′s wrong with the Principle, outlining a modification that allows for more accurate trading predictions.
Revealing the methodology that led to this discovery, the common ratios that link different parts of the wave structure, and providing a wealth of practical examples to explain his findings, Copsey shows how waves really develop, dispelling the misconceptions that have been practiced by Elliotticians for years. Supporting his methods by consistently ensuring that waves are related by common ratios, Copsey helps the reader apply the revised version of the Principle with greater understanding and accuracy.
- Reveals a fundamental error in the popular Elliot Wave Principle
- Outlines a tried and tested modification that fixes this mistake and allows for more accurate analysis
- Offers essential information on applying the new model to the markets
With far–reaching implications for traders everywhere, Harmonic Elliott Wave is a must–read for anyone who puts their faith in the Elliot Wave Principle.
From the Inside Flap
The publication of R.N. Elliott’s The Wave Principle in 1938 marked the beginning of the Elliott Wave Movement which has attracted a huge following in the technical analysis community. Author Ian Copsey, a veteran technician, has spent many years testing these theories and believes he has unearthed a fundamental error in the structural development of price behavior as defined by the Elliott Wave Principle. From his early findings that trending waves ended prematurely and the vagueness of the wave relationships he began to realize that trending waves do not consistently develop in the manner which R.N. Elliott described in his findings.
With a stubborn fastidiousness he has pieced together a modification to the original Wave Principle that both defines the correct structural development and unearths the common ratios that identify related waves. Subscribers to his daily report often write in amazement at the frequent accuracy of the trading levels he generates from this process.
In this book he reveals the methodology, the common ratios that link different parts of the wave structure and provides a wealth of practical examples to explain his findings. Through this methodology he shows how waves develop and dispels the misconceptions that have been common practice by Elliotticians over the years. He supports his methods by consistently ensuring that waves are related by common ratios to help the reader apply the techniques with greater understanding and accuracy.
Inside This Book
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1 review
9 of 9 people found the following review helpful
Interesting approach to Elliott Wave
24 May 2011
Format:Hardcover
This is a rather short book with a clear objective: Present a different way to count Elliott Waves. The basic premise is the same as for the traditional count, but the author presents a number of guidelines that break with the traditional way of counting waves. The obvious question is off course whether the new approach is superior. Only time will tell. The author seems credible and has been at it for several years, so it is a very serious attempt. Also check out the author's website. I suppose most people would consider the book as a marketing tool for the author's forecasting service, but he is not hiding information so you could do the analysis yourself too. I think the approach is totally fair.
Credentials: Familiarity with Elliott Waves since the 80s, Neely subscriber (but his book Mastering Elliot Wave: Presenting the Neely Method: The First Scientific, Objective Approach to Market Forecasting with the Elliott Wave Theory (version 2) I do not understand), current EWT intraday subscriber (in contrast their book Elliott Wave Principle: Key To Market Behavior is easy to understand and should be your first read).
I can recommend this book to people that already have familiarity with Elliott Wave. However, this book should not be your first book on the subject. Check out my reviews of the above mentioned books for recommendations. A solid four star as things stand now.
Credentials: Familiarity with Elliott Waves since the 80s, Neely subscriber (but his book Mastering Elliot Wave: Presenting the Neely Method: The First Scientific, Objective Approach to Market Forecasting with the Elliott Wave Theory (version 2) I do not understand), current EWT intraday subscriber (in contrast their book Elliott Wave Principle: Key To Market Behavior is easy to understand and should be your first read).
I can recommend this book to people that already have familiarity with Elliott Wave. However, this book should not be your first book on the subject. Check out my reviews of the above mentioned books for recommendations. A solid four star as things stand now.
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