Jgadefelth, I have not said EWT is 'great'. There always have been and will be those who use EW and those who will not, those able to make use of EW and those unable to make use of EW. As to Mr Neely being the 'richest man on earth', perhaps he is.
wallace maybe it is all about geting in to the market as my old friend says you will learn to use EWT in different markets by experience you will se what direction the market most likely will take with EWT Regards
I got long earlier based on another entry but I was glad to see the 2B pattern print as confirmation.
2B illustrates how deceptively simple TA setups can be. In order to play even something so supposedly simple as 2B, you need to do TONS and TONS of your own testing. How exactly do you enter, how exactly do exit, whats your definition of 2B, what precise kind of 2Bs do you play, how many bars apart does it have to be, does volume play a part, etc. etc. etc. If you take the setup straight from Sperandeo book you will NOT make money. Firstly because its not described specifically enough to play.
Of course. This is true of all setups. If it was easy there would be no possiblility of making any money with them. How about a flag? Talk about deceptively simple looking.