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Subject 7. Elliott Wave Theory PDF Download
In late 1930s R.N. Elliott discovered that the stock market is not as random as it seems to be. In fact, the stock market moves in repetitive cycles or waves and each wave is a fractal version of its bigger wave. One of the discoveries is that the financial market always moves in five waves of the prevailing trend, called impulse waves, and three corrective waves that counter the prevailing trend. The waves count itself is a Fibonacci sequence of numbers.
Elliott Wave Theory was made popular by Robert R. Prechter, Jr. in one of his bestseller Elliott Wave Principle: Key to Market Behavior.
Learning Outcome Statementsg. describe the key tenets of Elliott Wave Theory and the importance of Fibonacci numbers;
CFA® 2021 Level I Curriculum, , Volume 1, Reading 56
User Contributed Comments 1
|lordcomas||The magnificent Fibonacci sequence of numbers. Great way to place it into the CFA material.|
I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
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