Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author whose study of stock market data led him to develop the Wave Principle, a description of the cyclical nature of trader psychology and a form of technical analysis.
Civil unrest there brought the couple back to the United States and eventually to a residence in New York City, where Elliott started a successful consulting business.
Not long afterward, Elliott wrote two books based on his professional experiences: Tea Room and Cafeteria Management[2] and The Future of Latin America.
Elliott stated that, while stock market prices may appear random and unpredictable, they actually follow predictable, natural laws, and can be measured and forecast using Fibonacci numbers.
Soon after the publication of The Wave Principle, Financial World magazine commissioned Elliott to write twelve articles under the book title, describing his method of market forecasting.