The Wave Principle was developed by Ralph Nelson Elliott in the 1930s and 1940s. The basic concept of the Principle is that stock market prices rise and fall in recognizable patterns which can be linked together into waves. Thus the Wave Principle is an analytical tool describing how the stock market behaves, and it can, therefore, be used as a forecasting method. Through time, Elliott's work went out of print, and material on the Principle became hard to find. It was not until 1978, with The Elliott Wave Principle by Robert Prechter, that the theory once again became part of the...