Elliott Wave is a descriptive form of technical analysis based on the concept that price action unfolds in identifiable, structured waves that define both trend and countertrend moves.
Ralph Nelson Elliott (1871-1948) introduced his ideas through a series of letters to Charles J. Collins, who help Elliott published The Wave Principle in 1938. Also with Collins’ aid, Elliott published a series of articles in Financial World magazine in 1939.
Today, Elliott Wave theory is probably best known through the work of Robert R. Prechter Jr., who in 1978 coauthored with A.J. Frost the book, Elliott Wave Principle: Key to Stock Market Profits (John Wiley & Sons, 10th edition, 2001).
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