Posted by timebandit on 7th of May 2026 at 08:26 am
The future is rational only in hindsight. Period. That
isn’t just true in trading, it is true in life.
I don’t use Eliot Wave, only understand it enough to do an
occasional wave count. In other words, to be dangerous. But I
suspect it is like the tools I do use, which merely help me
recognize patterns and conditions that help reduce the odds I will
lose money. An imperfect model through which to interpret the
market.
Posted by elementsix on 7th of May 2026 at 09:53 am
Elliot Wave - I think the real benefit of EW is in the macro
picture. It's about knowing what Wave you are currently in and what
to expect as far as price action during that Wave. Think weekly,
not daily.
We're in Wave 5, Impulsive. Being a little conservative will
likely be rewarded. When we get to Wave 1, maybe be more
aggressive. That's great macro knowledge to have. It tells as WHAT
to expect now and next (but not WHEN). EW is not an everything
tool... use it for what it's meant for and rely on a multitude of
other indicators.
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The future is rational only
Blow off v move
Posted by timebandit on 7th of May 2026 at 08:26 am
The future is rational only in hindsight. Period. That isn’t just true in trading, it is true in life.
I don’t use Eliot Wave, only understand it enough to do an occasional wave count. In other words, to be dangerous. But I suspect it is like the tools I do use, which merely help me recognize patterns and conditions that help reduce the odds I will lose money. An imperfect model through which to interpret the market.
All models are wrong, some can be useful.
Elliot Wave
Posted by elementsix on 7th of May 2026 at 09:53 am
Elliot Wave - I think the real benefit of EW is in the macro picture. It's about knowing what Wave you are currently in and what to expect as far as price action during that Wave. Think weekly, not daily.
We're in Wave 5, Impulsive. Being a little conservative will likely be rewarded. When we get to Wave 1, maybe be more aggressive. That's great macro knowledge to have. It tells as WHAT to expect now and next (but not WHEN). EW is not an everything tool... use it for what it's meant for and rely on a multitude of other indicators.