![]() Elliott based part his work on the Dow Theory, which also defines price movement in terms of waves, but Elliott discovered the fractal nature of market action. Inspired by the Dow Theory and by observations found throughout nature, Elliott concluded that the movement of the stock market could be predicted by observing and identifying a repetitive pattern of waves.Įlliott was able to analyze markets in greater depth, identifying the specific characteristics of wave patterns and making detailed market predictions based on the patterns. He was an American accountant and author. 2.5 Relation between Fibonacci and Elliott Waveġ) Elliott Wave Theory: Modern Theory for 21st Century Market 1.1 What is Elliott Wave Theory?Įlliott Wave Theory is named after Ralph Nelson Elliott (28 July 1871 – 15 January 1948).2.4 Fibonacci Retracement and Extension.1.5 The Rise of Algorithmic / Computer-Based Trading.1.3 Five Waves Pattern (Motive and Corrective).1.2 Basic Principle of the 1930’s Elliott Wave Theory.Furthermore, it is worth mentioning that it was not on this side of the globe that the Fibonacci sequence was written for the first time, it had already appeared in a book on metrics written by the Indian mathematician Pingala, between 450 and 200 BC, demonstrating that the sources of beauty and wisdom go beyond the European cradle.Elliott Wave Theory 1) Elliott Wave Theory: Modern Theory for 21st Century Market However, it is a fact that the golden ratio was of fundamental importance for the cultural sector and in the construction of an aesthetic sense, especially in the West. In short, it is a debate that will remain constant, after all, scientific data are not enough to translate what is beautiful - this notion being subjective and created according to a person's own references and cultures. ![]() According to Keith Devlin, a British mathematician and expert on the subject, all theories that cover aesthetic appeals according to this constant exist only because we humans are good at recognizing patterns and we ignore everything that contradicts them. ![]() Furthermore, many mathematicians and designers already question the fact that the golden ratio is a universal formula for aesthetic beauty. Nowadays, fortunately, the discussion about the standardization and universalization of the human body is much more advanced and does not just surrender to mathematical factors. The higher the numbers chosen, the closer the result is to the golden ratio. After all, when dividing a number from the Fibonacci sequence by its previous one, the result will be closer and closer to 1.618. This constant creates a very close relationship with the golden number (1.61803399), called the golden ratio, which mathematically represents the "perfection of nature". In its content, the fundamental thing is to know that whatever the number in the sequence is, it is the result of the sum of the two previous ones. Leonardo of Pisa, better known as Fibonacci, wrote his series of numbers (1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233.) to solve a hypothetical problem of breeding rabbits in your Calculation Book. But, after all, how does this sequence relate to architecture? The famous sequence of numbers became known as the "secret code of nature" and can be seen in the natural world in several cases. One of the most famous series of numbers in history, the Fibonacci sequence was published by Leonardo of Pisa in 1202 in the " Liber Abaci", the "Book of Calculus".
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