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Elliot Wave and the effectiveness of Elliot wave for the DSE indices.
Abstract
To invest in the market safely and profitably, the investors need to predict the market trend. With the help of past data they do technical analysis to forecast the future trend. For predicting the market, different tools have been evolved. Elliot’s Wave, introduced by Ralph Nelson Elliott (1871-1948),isone of those, which is the cyclical quantification of investor psychology to predict the market swings. The wave principle assumes a liquid market and it reflects the psychological pattern of the participants. The wave pattern consists of five impulse and three corrective waves.In this paper we have tried to find out the effectiveness of the “Elliot Wave Principle” on the Dhaka Stock Exchange Indices.
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