Henrik Becker: A Mosaic of Time, Gebunden

Klappentext

In the 1930s, Ralph Nelson Elliott developed the theory that bears his name, the aim of which is to forecast movements in financial markets. Elliott recognized that the price formation perceived by the general public as chaotic-the seemingly uncontrolled up and down of prices-is subject to certain underlying laws. Through his detailed analyses of the markets, Elliott was able to identify the recurring fractal structure of market movements as well as the occurrence of periodic price patterns. He divided these price patterns into two groups: impulse and correction. In addition, R. N. Elliott demonstrated that these sometimes highly complex price patterns are formed within specific proportional relationships, namely Fibonacci ratios. By integrating the time component into his theory, Elliott created one of the most complex methods for analyzing financial markets. For its adherents, the Elliott Wave Principle represents a philosophy that can be applied to a wide range of areas in life. If the practitioner succeeds in engaging seriously with this subject, an analytical toolkit becomes available that can effectively relegate the endless flood of news to the background. Elliott's insights also constitute a fundamental element of chaos theory, which was developed a few years later by Benoit B. Mandelbrot. The author's objective is to encourage you not to accept or internalize the perspectives presented uncritically. The intention of the practice-oriented interpretation of the material is to stimulate experimentation and discussion. It is an old wisdom that trial paves the way to insight. Building on the extensive rule set-consisting of fixed and variable rules-as a foundation, gather your own experience and develop your own, entirely individual style in both the application and interpretation of Elliott Wave Theory. This book offers guidance and food for thought, but deliberately refrains from conveying rigid dogmas. Planned projects: "Under the Spell of Cycles" In the course of the labor-intensive work on this book, it became clear that the scope of the publication would significantly exceed the originally intended volume. This aspect was taken into account during the revision of the book concept, with the result that the focus is now placed on conveying the theoretical foundations of Elliott Wave Theory. The chapters dealing with the practical application of the Elliott Wave Principle are intended to be prepared in a separate publication.