NEoWave was developed over decades by Glenn Neely. It is the first logical, scientific approach to market analysis ever created. His book, Mastering Elliott Wave, goes into great detail regarding the majority of his discoveries and advancements to the field.
The word NEoWave is derived from several words Neely Extensions of Wave Theory. Mr. Neely actually extended the Elliott Wave Theory. The main idea is the Elliott Wave, but paying attention to details, new rules and new patterns in NEoWave has caused many changes. If you analyze the same chart with NEoWave and Elliott Wave method, different results will be obtained
This image can show the expansion of NEoWave compared to Elliott Wave Theory
Creation of NEoWave by Mr. Glenn Neely
Mr. Glenn Neely says:
I was working in the oil business and started reading books on stock market analysis. I came across a book containing descriptions of lots of different types of technical analysis, and Elliott Wave was one of those. When I read about Elliott Wave, I immediately thought, “This is it” because I had been searching and reading about markets for a year or two. Just reading the description about how it works and what it is, I immediately knew this was the concept or Theory – the explanation of markets – that I’d been looking for, because it was much more sophisticated and multidimensional than other concepts I had been reading about. It connected to human psychology and explained why markets undulated up and down and on larger and smaller scales. It made sense of all the randomness of market behavior.
Then, many requests were given to him to teach this method and many questions were asked to him about some ambiguous cases in Elliott Wave, so Mr. Neely had to give a proper answer to these questions. Deep thinking about ambiguous angles and finding solutions that are scientific and logical and understandable for customers caused Mr. Glenn Neely to invent methods and rules that lead to the logical development of the Elliott Wave analytical method and the creation of NEoWave.
Mr. Glenn Neely read every book there was on Elliott Wave. After some time of study, he got a good skill in Elliott Wave, but he realized that this theory has many flaws that no one paid attention to, such as how to plot your charts, how to start your charts, how to start the analysis, what kind of data to use in your charts. A lot of things were missing.
Mr. Glenn Neely says:
From this early knowledge I gained I decided, “Well, if I’m in this situation, a lot of other people are probably in this situation. Maybe I could start teaching people what I’ve learned about the process and how to do it better.” So I started teaching.
I never realized that, from the teaching process, I would end up learning tons of new things about Elliott Wave that I never imagined – concepts that were not discussed in any of the books I had read. That’s why I came up with so many different ideas about Elliott Wave over time. By teaching people and being asked questions and being forced to come up with answers and think deeply about answers and contemplating this over the course of many years..
Finally, after years of studying, thinking, teaching and trading, Mr. Glenn Neely collected his ideas and published the book
Mastering Elliott Wave
