Education/NEoWave Explained/ What is the difference between NEoWave and Elliott Wave?
The three core elements of Elliott Wave are:
the Fibonacci number series
pattern recognition
the Golden ratio (.618)
All three elements have a "forecasting" or "anticipatory" aspect, in which the analyst is expecting the market to move up or down a certain number of "waves", which adhere to a predictable design and have specific relationships. (Note, the concept of "waves" was not objectively defined in any literature until the release Mastering Elliott Wave in 1990)
The three core elements of NEoWave are:
Logic (e.g., a strong correction must yield a powerful move),
Self-defining price/time limits (e.g., a smaller degree pattern cannot take more time and price than a larger degree pattern), and
Self-Confirmation (i.e., the market's post-pattern behavior determines whether your prior structural analysis was correct).
All three NEoWave elements have a "back-casting" or "reactionary" aspect, where the analyst is making sure (after the fact) a pattern did not take too much or too little time, that it was not too complex or too simple, and that post-pattern price action achieved the minimum movement required to confirm the prior pattern.
What is the difference between NEoWave and Elliott Wave? How is NEoWave better?
The Elliott Wave Principle, named for its discoverer, Ralph Nelson Elliott, quite simply measures how groups of people behave. One of the easiest places to see this phenomenon at work is in the financial markets, where changing investor psychology is reflected in the form of price movements. While it had been thought that traders behaved in a somewhat chaotic manner, R.N. Elliott discovered they actually traded in repetitive cycles, which, it turned out, were the emotions of investors as a result of outside influences.
The up-and-down swings of the mass psychology always showed up in repetitive patterns, which were then divided into patterns that R.N. Elliott named Waves. His Wave theory went on to reveal that if you can identify repeating patterns in prices – and figure out where those repeating patterns occur – then you can predict where the market is heading.
On the other hand, NEoWave goes beyond the teaching of Elliott Wave principles. Glenn Neely's NEoWave analysis techniques offer a logical, scientific, and objective approach to Wave forecasting.By following the three core elements of NEoWave (as mentioned above with Logic, Self-defining, and Self-confirming), NEoWave goes beyond the "forecasting" or "anticipatory" of Elliott Wave principle.NEoWave sets additional rules and concepts to the wave analysis process that elevates it out of the realm of supposition and into the realm of science.
Therefore, with the addition of the above "new" rules to orthodox Elliott Wave, NEoWave is formed and makes it possible to produce wave counts that stand the test of time.
Why is NEoWave a more reliable Wave trend indicator?
In 1988, Glenn Neely was one of the only bullish analysts in the world. Among orthodox Elliott Wave practitioners who were extremely bearish (and remained that way for most of the last 30 years), Glenn stood alone and was heavily ridiculed for his extremely bullish, long-term forecast. It was the logic of NEoWave that allowed Glenn to remain so adamantly and confidently bullish on the U.S. stock market, despite massive public condemnation and even in the face of negative national and international news.
It was NEoWave that allowed Glenn Neely to turn adamantly bearish on the U.S. stock market near the highs of 2000 and then, two years later, turn bullish again just six months after the 2002 low. Finally, in January of 2008 - once again, despite strong opposition - he turned adamantly bearish on the U.S. stock market. It was NEoWave that gave Glenn Neely the courage to announce to the world in mid-January 2008 that a new bear market began and that there was virtually nothing that could be done to stop the downward spiral of the U.S. stock market for the next 4 to 6 years!
In its orthodox form, Elliott Wave never allows for such dogmatic forecasts. To the contrary, Elliott Wave typically allows for multiple, completely contradictory scenarios. If you have simultaneously bullish and bearish counts, it is of little value for trading.
The same way calculus elevated mathematics beyond algebra and trigonometry, the logical, self-defining limits and self-confirming aspects of NEoWave raise the field of wave analysis (and technical analysis in general) above the realm of opinion and hearsay and into the realm of science and fact.
NEoWave, An accurate analysis and forecasting system
With its step-by-step, practical applications, Glenn Neely's NEoWave has transformed - revolutionized - Elliott Wave. What began as R.N. Elliott's intriguing theory is now a more comprehensive and accurate market analysis and forecasting system.
Glenn Neely's NEoWave analysis techniques offer a logical, scientific, and objective approach to Wave forecasting. By following the three core elements of NEoWave (as mentioned above with Logic, Self-defining, and Self-confirming), NEoWave goes beyond the "forecasting" or "anticipatory" of Elliott
Elliott
Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author whose study of stock market data led him to develop the Wave Principle, a description of the cyclical nature of trader psychology and a form of technical analysis. It identifies trends and reversals in financial markets.
https://en.wikipedia.org › wiki › Ralph_Nelson_Elliott
Neo wave is an Advanced Elliott wave method with more number of rules and newer patterns to increase the overall objectivity. Orthodox Elliott wave was originally discovered by R. N. Elliott in 1930s.
The Neo Wave Theory is a newer take on wave analysis, and it is argued by the creator of the approach (financial analyst, Glenn Neely) and his contemporaries, that this approach is actually much better for predicting future price movements, and therefore, a more reliable wave trend indicator for professional traders to ...
* NeoWaves performs a protocol to specifically treat ED, as well as to enhance sexual performance. Our procedure is based on a large series of clinical studies showing a greater than 75% success rate in treating Erectile Dysfunction (ED).
First, this theory is more subjective in its pattern identification compared to Fibonacci patterns and comparable techniques that provide traders with specific thresholds and ratios to watch.
NEoWave, An accurate analysis and forecasting system
With its step-by-step, practical applications, Glenn Neely's NEoWave has transformed - revolutionized - Elliott Wave. What began as R.N. Elliott's intriguing theory is now a more comprehensive and accurate market analysis and forecasting system.
But, as technologies, governments, economies, and social systems have changed, the behavior of people has also. These changes have affected the wave patterns R. N. Elliott discovered. Consequently, strict application of orthodox Elliott wave concepts to current day markets skews forecasting accuracy.
waves need to follow three basic rules: Wave 2 cannot retrace complete of wave 1. Wave 3 cannot be the shortest of the directional waves 1,3 and 5. Wave 4 cannot enter into territory of wave 1.
Neo wave is an Advanced Elliott wave method with a greater number of rules and newer patterns to increase the overall objectivity. Whereas Elliott wave which was originally discovered by R. N. Elliott in 1930s. His original work mentioned that stock market does not move randomly but in systematic fashion.
Newton's rejection of the wave theory of light and advocacy of the particle theory convinced many scientists of his day that light was indeed a particle. This belief was held until well after Newton's death in 1737 (Cantor, 1983) .
##Wave Chart v2## For analyzing Neo-wave theory Plot the market's highs and lows in real-time order. Then connect the highs and lows with a diagonal line. Next, the last plot of one day (or bar) is connected with a straight line to the first plot of the next day (or bar).
NEoWave involves controlling how the charts are drawn, and the kinds of data you use to draw the charts (which should always be cash data that doesn't expire). NEoWave explains how to plot the data, so you're not using bar charts in the normal fashion, you're using what's called Wave charts.
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Conclusion. The Elliott Wave Theory offers a unique perspective on market dynamics, unveiling the rhythmic patterns underlying price movements. By understanding the rules, types, and principles of Elliott Wave Theory, traders can gain valuable insights into market psychology and enhance their trading strategies.
Elliott Wave Theory is a price analysis method that is based on the notion that price moves in the same patterns on both smaller and longer time frames. By charting these moves, or as Elliott called them, waves, a trader is able to forecast how price will move next in markets.
The Wave Principle is Ralph Nelson Elliott's discovery that social, or crowd, behavior trends and reverses in recognizable patterns. Elliott discovered that the ever-changing path of stock market prices reveals a structural design that in turn reflects a basic harmony found in nature.
Elliott Wave (3) is usually the strongest and longest wave. Elliott Wave (3) is usually the largest and most powerful wave in a trend. The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow.
Conclusion. The Elliott Wave Theory offers a unique perspective on market dynamics, unveiling the rhythmic patterns underlying price movements. By understanding the rules, types, and principles of Elliott Wave Theory, traders can gain valuable insights into market psychology and enhance their trading strategies.
NEoWave allows you to address more complicated Wave analysis situations – to be able to predict with more timing precision, more price precision, and more trading precision. So that's what NEoWave is about.
Introduction: My name is Kareem Mueller DO, I am a vivacious, super, thoughtful, excited, handsome, beautiful, combative person who loves writing and wants to share my knowledge and understanding with you.
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