Study and development of wave theory.

Dow Theory 1851-1902

The Dow Theory was developed by Charles Dow, founder of the Dow Jones Industrial Average in the late 19th century. Dow was a financial journalist, and he used his experience with financial markets to develop the theory. The Dow Theory was first published in a series of editorials in The Wall Street Journal, which Dow co-founded in 1889.

Dow theory is a method of technical analysis developed by Charles Dow, founder of the Dow Jones Industrial Average. The theory is based on the idea that the stock market moves in three different trends. And these trends can be analyzed and used to make investment decisions.

According to Dow Theory, there are three trends in the stock market: the primary trend, the secondary trend, and the secondary trend. The main trend is the long-term trend of the market. which can last for years or even decades A secondary trend is a short-term trend that moves against the primary trend and may persist for weeks or months. The secondary trend is the shortest trend. and may only last for a few days

The Dow Theory also states that markets consist of three different types of movement: trends, corrections, and swings. Trends are the overall direction of a market. A correction is a temporary movement against the trend. And swings are short-term moves within a trend.

Elliott Wave 1938

Elliott wave theory is a technical analysis method used to predict market trends and behavior. It was developed by Ralph Nelson Elliott in the 1930s and is based on the idea that market prices move in predictable ways. This theory proposes that market trends move in a cyclical fashion. Each round consists of five waves in the direction of the trend. and three waves that go against the trend The five waves are labeled "1", "2", "3", "4" and "5", while the three waves against the trend are labeled "A", "B" and "A". "C" traders use Elliott wave theory to identify market highs and lows. and to make predictions about future market behavior. and was published in 1938

Elliot Wave Theory Directly inspired by Dow Theory, Mr. Elliott stated in a letter to Charles Conlin that the wave theory he discovered It is an important extension of research that makes the Dow Theory even more complete.

Elliott Wave Supplement 1953

After Elliott's death, wave theory was not discussed much until 1953. A. Hamilton Bolton republished wave theory in the Elliott wave Supplement and published an analysis of the Elliott wave as part of his "Elliott Wave Supplement". His yearly analysis titled "Bank Credit Analyst" has been running for over 14 years.

Elliott Wave Principle 1978

In 1978, A.J. Frost and Robert Prechter compiled the knowledge contained in the Elliott wave Supplement article to study and jointly study it while preserving the traditional approach of wave theory. of Elliott the most He published a book called "Elliott wave Principle". Mr. Robert Prechter used the wave principle in the US Trading Championship in 1984, winning the competition. With a record high return of 444%, the Elliott wave is being discussed more widely. He is also the founder of Elliott wave International. that provides analytical services, dissemination, training, testing, certification so that wave theory analysts have the same standards until now https://www.elliottwave.com/

Mastering Elliott Wave 1990

Glenn Neely began studying the Elliott Wave Principle in 1982 and was fascinated by its implications. The wave theory caught his imagination! since then He has devoted his career to the study of Elliott Wave. Glenn Neely has invested years in teaching and refining Elliott Wave theory for its intended purpose. Practical, rational and reliable. These efforts resulted in a theory and technique known as the NEO Wave, which is a step-by-step assessment of the market structure. which leads to complexity In the 1990s he published his advanced techniques in Mastering Elliott Wave and was the founder of the Neowave institute.

https://www.neowave.com/

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There are also many analysts who bring a lot of wave theory to study further. But it was not widely accepted or talked about much. so I didn't mention

All in all, Elliott Wave theory has been used by traders for decades and is still popular today. It is seen as a reliable tool for predicting future price movements. And it can be used to identify buying and selling opportunities. However, traders should be aware that the effective use of Elliott Wave Theory in predicting future price movements is not as effective. It largely depends on experience. Analyst's skills and strict adherence to rules While there is no guarantee that any Elliott Wave prediction is 100% accurate, time has proven, over nine decades, to the existence of the Wave Principle, insofar as the masses engage in it.

As for the content of the next article, we will come to understand Elliottwave even more. which many people still misunderstand about these two books

which are completely different In terms of conceptual content Counting Rules and Guidelines Follow up in the next article.

Kittiampon Somboonsod, CEWA