Practical applications and limitations of Elliott wave principle in modern foreign exchange markets.

by Chiu Man-cheong and Lo Kin-chung.Thesis (M.B.A.)--Chinese University of Hong Kong, 1994.Includes bibliographical references (leave 1 (4th gp.)).ABSTRACT --- p.iiiTABLE OF CONTENTS --- p.ivACKNOWLEDGEMENT --- p.viChapterChapter I. --- INTRODUCTION --- p.1Chapter II. --- LITERATURE REVIEW --- p.4Variations --- p.7Ratio Analysis --- p.13Applications on Real Markets --- p.14Chapter III. --- METHODOLOGY --- p.16Wave Counting --- p.20Fibonacci Targets --- p.22Data Source --- p.23A Note on Notations --- p.23Chapter IV. --- RATIO ANALYSIS --- p.25Fibonacci Relationships --- p.25Results of Ratio Analysis --- p.28Wave 2 --- p.29Wave 3 --- p.30Wave 4 --- p.30Wave 5 --- p.31Summary of ResultsChapter V. --- FORMULATION OF TRADE PLANS AND RESULTS OF SIMULATED TRADING --- p.32Formulation of Trade Plans --- p.33Trade Plan No. 1 --- p.35Pre-conditions of Trade --- p.35Trade Initiation --- p.36Cut-loss Mechanism --- p.38Profit Taking --- p.39Trade Plan No. 2 --- p.41Pre-conditions of Trade --- p.42Trade Initiation --- p.42Cut-loss Mechanism --- p.43Profit Taking Point --- p.44Trade Opportunities Scan --- p.46Trade Case 1 --- p.52Pre-conditions --- p.52Trade Initiation --- p.52Profit-taking/Cut-loss --- p.53Trade Case 2 --- p.54Pre-conditions --- p.54Trade Initiation --- p.55Profit-taking/Cut-loss --- p.56Trade Case 5 --- p.57Pre-conditions --- p.57Trade Initiation --- p.58Profit-taking/Cut-loss --- p.58Results of Simulated Trade --- p.59Discussions on Simulated Trading --- p.62Chapter VI. --- WAVE ANALYSIS AND MARKET PERSPECTIVES --- p.65Analysis of the Broadest Swing --- p.66Phase 1 Price Movement --- p.67Phase 2 Price Movement --- p.70Future Market Perspectives --- p.78Chapter VII. --- DISCUSSIONS --- p.82Experience in Wave Counting --- p.82Limitations of Elliott Wave --- p.85Practical Issues --- p.86Chapter VIII. --- CONCLUSIONS --- p.92APPENDICES --- p.A-lChapter 1. --- RESULTS OF RATIO ANALYSIS --- p.A-2Chapter 2. --- DETAILS OF SIMULATED TRADING --- p.A-3BIBLIOGRAPHY --- p.B-