a few years I studied Elliot Wave as the panacea for all trading.  What I learned after a while is that there is a count...then if it doesn't work, there is a rule for that, like the wave is subdividing etc.  Then if that doesn't work there is an alternative count etc.  after a while I realized its quite the crapshoot, and the rules are just made to fit about anything that happens but is not great for predicting anything, other than five waves up is impulsive and ABC's are corrective.  If one could take that away as a lesson...not too bad.



Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!