Post by zzamand56 on Mar 12, 2024 8:45:54 GMT
Analysis, which, according to the author and his followers, is distinguished by stronger predictive power. We will find out if this is really the case in the NeoWave study process. We will begin with answers to the main questions of wave theory that were never published before Glenn Neely's book “Mastering Elliott Waves” was written. What are waves, monowaves? Interestingly, but in the works of Elliott and his followers, there is no clear definition of a wave, on which the entire theory is based. Neely defines a wave as a segment of some length that moves in any direction except vertical. Waves are the result of the imbalance in the number of buy and sell orders in the market. Neely also introduced a totally new concept of monowaves, which are sort of the building blocks of all wave structures.
Monowave is the simplest type of wave, which is the price movement that begins and ends with a change in price direction. LiteFinance: Let's examine the latest, boldest interpretation of Elliott Wave Theory: Glenn Neely's NeoWave. | Litefinance On the chart, the monowave is marked with a blue line, and movement in the opposite direction with a yellow line. A monowave can be a section Belize Mobile Number List of the chart of any length in which the price moves in the same direction, and before and after a reversal of the direction of movement occurs. A perfect monowave is a straight line, but it rarely occurs in practice. LiteFinance: Let's examine the latest, boldest interpretation of Elliott Wave Theory: Glenn Neely's NeoWave. | Litefinance In the chart above, the blue lines mark the price movement with multiple insignificant changes in the price direction.
This movement can be called a single wave until the general direction changes, as occurs when the upward movement changes to a downward movement (marked with an orange line). Neely calls the combination of three or five monowaves a polywave, three or five polywaves a multiwave, and three or five multiwaves a macrowave. The structure of a higher degree is also called macrowaves, so the author abandons the classical hierarchy described in the article dedicated to wave levels . Chart creation rules One of the main differences between Mastering Elliott Wave by Glenn Neely and the approaches described by Prechter and Williams is the principle of chart construction. The analyst developed a completely new system of technical analysis and data management that we are now going to study. In the first stage, we divide the chart into some equal time periods.
Monowave is the simplest type of wave, which is the price movement that begins and ends with a change in price direction. LiteFinance: Let's examine the latest, boldest interpretation of Elliott Wave Theory: Glenn Neely's NeoWave. | Litefinance On the chart, the monowave is marked with a blue line, and movement in the opposite direction with a yellow line. A monowave can be a section Belize Mobile Number List of the chart of any length in which the price moves in the same direction, and before and after a reversal of the direction of movement occurs. A perfect monowave is a straight line, but it rarely occurs in practice. LiteFinance: Let's examine the latest, boldest interpretation of Elliott Wave Theory: Glenn Neely's NeoWave. | Litefinance In the chart above, the blue lines mark the price movement with multiple insignificant changes in the price direction.
This movement can be called a single wave until the general direction changes, as occurs when the upward movement changes to a downward movement (marked with an orange line). Neely calls the combination of three or five monowaves a polywave, three or five polywaves a multiwave, and three or five multiwaves a macrowave. The structure of a higher degree is also called macrowaves, so the author abandons the classical hierarchy described in the article dedicated to wave levels . Chart creation rules One of the main differences between Mastering Elliott Wave by Glenn Neely and the approaches described by Prechter and Williams is the principle of chart construction. The analyst developed a completely new system of technical analysis and data management that we are now going to study. In the first stage, we divide the chart into some equal time periods.
