Review: Trading Theories
Rating: 2 out of 5
Date: 05 11, 2014
The Elliot Wave Theory was developed in 1930 by Ralph Nelson Elliot, based on the idea that even though the market appears random and unpredictable it actually follows patterns.  Similar to the Dow Theory in that stock prices move in waves. Elliot was able to breakdown and analyze them in more detail.  The disadvantage is that the nature of these patterns can be interpreted in several different ways.  Young spent only a short time with each chapter giving basic information but in my opinion failing to give readers enough to adequately understand each concept.  Not one of my favorites.