I only use elliot wave for some quidence.... Too many if that.. then that scenerios.   Prechter is the guy who was calling for gold to drop to 600 when it was at 900ish...   I think he was the guy with a bunch of Hindenberg Omens... still waiting..     He doesn't even trade anymore and friends of mine have met his son taking trading classes from someone else... His kid doesn't even believe in his old man.       Also, with the internet,   modern computers,   and central banks pumping money into the system I don't know where there is a "HISTORY"  where elliot wave has been tested under current conditions?    Since we never had the internet until the mid 90's   and in full speed later on... I don't see how elliot wave has ever been tested under todays conditions.     Unitl someone can prove otherwise,    I would keep the loses small and let the winners ride.