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- Title
3 Does the Wave Principle Subsume all Valid Technical Chart Patterns?
- Authors
Prechter Jr., Robert R.
- Abstract
This paper investigates whether the Wave Principle subsumes forms asserted in other types of pattern analysis. If the Wave Principle constitutes the primary market pattern, as proponents assert, then all other proposed patterns must either be spurious or fall within the structure of the Wave Principle. The conclusion is that technicians may reduce the large and varied catalogue of proposed market patterns down to five essential forms.
- Subjects
ELLIOTT wave principle; STOCK price forecasting; REGRESSION analysis; STOCK exchanges; STOCK prices; PRICE indexes; MULTIPLE regression analysis; MARKET volatility; PROBABILITY theory
- Publication
Journal of Technical Analysis, 2009, Issue 66, p28
- ISSN
2378-7295
- Publication type
Article