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| Feature | Elliott Wave | Dow Theory | Moving Averages | |---------|--------------|------------|------------------| | Predictive power | High (price targets) | Low (trend only) | Low (lagging) | | Objectivity | Low | Medium | High | | Learning curve | Steep | Moderate | Low | | Psychology focus | Strong | Moderate | None |
At its simplest, the Wave Principle states that a complete market cycle consists of : elliott wave principle key to stock market profits pdf