I see your point about how you use Elliot Wave. But you
might want to address the problem I have with the theory:
namely that it seems to have consistent predictive value only
retroactively.
In your view, can one use Elliot Wave to make consistent
predictions about the future behavior of a stock? In other
words, do you think that it's possible to successfully trade a
stock in realtime using Elliot Wave? Even if it's "one piece
of the puzzle," for it to be a useful piece of the puzzle it should
be able to make consistent and verifiable predictions.
It might be interesting to paper trade a stock or etf using just
Elliot Wave information and see what kind of results ensue.
algyros - my EW video was not about using EW as a prediction
tool, it was about how to easily spot if a pullback on a strong
stock in an uptrend that is bullish consolidation via a glance of
the eye vs using all kind of complicated rules etc. As I
showed in the video, I didn't show how to predict where the
pullback would end or how long it would last, I used the 200 MA and
Fibs for that. Just the choppy over lapping moves are a very
easy thing to see that it's a bullish consolidation and look for a
buying opportunity.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Thanks for the tutorial, Matt.
A Useful Elliot Wave Tutorial using AAPL as example
Posted by algyros on 21st of Jul 2011 at 09:28 am
Thanks for the tutorial, Matt.
I see your point about how you use Elliot Wave. But you might want to address the problem I have with the theory: namely that it seems to have consistent predictive value only retroactively.
In your view, can one use Elliot Wave to make consistent predictions about the future behavior of a stock? In other words, do you think that it's possible to successfully trade a stock in realtime using Elliot Wave? Even if it's "one piece of the puzzle," for it to be a useful piece of the puzzle it should be able to make consistent and verifiable predictions.
It might be interesting to paper trade a stock or etf using just Elliot Wave information and see what kind of results ensue.
algyros - my EW video
Posted by matt on 21st of Jul 2011 at 10:05 am
algyros - my EW video was not about using EW as a prediction tool, it was about how to easily spot if a pullback on a strong stock in an uptrend that is bullish consolidation via a glance of the eye vs using all kind of complicated rules etc. As I showed in the video, I didn't show how to predict where the pullback would end or how long it would last, I used the 200 MA and Fibs for that. Just the choppy over lapping moves are a very easy thing to see that it's a bullish consolidation and look for a buying opportunity.