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Elliot Wave Techniques Simplified: How to Use the Probability Matrix to Profit on More Trades by Bennett McDowell

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CHAPTER 1

Who Is Ralph Nelson Elliott?

He’s the Man Who Discovered a Connection Between Market Patterns and Human Emotion

Ralph Nelson Elliott (1871–1948) is my hero (Figure 1.1). Well, one of my heroes. I say this because if it weren’t for his discovery and development of the Elliott Wave Principle back in the 1930s, my work as a trader and financial market analyst today would be far less successful and far less fascinating. In the spirit of honoring heroes, it seems fitting to begin this book with a chapter devoted to the man with a unique vision that, at the time, no one else could see.

FIGURE 1.1  Photograph of Elliott around 1924 at the age of 53. His passport applications state that he was five feet, eight inches tall, had blue eyes and ...

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