Elliot Wave is a scam. It's as junky as MACD, Stochastics, Iruku's cloud & all the other crap that amateur traders use. Amateur traders use technical analysis & filter price action in artificial manners (MACD, stochastics, Fibo-snatchi, elliot, gann lines, bollinger & tea leaves). This is why 80% of amateurs lose money in futures. THE LAW OF CAUSE & EFFECT IS THE IRON LAW OF THE UNIVERSE. If you do what other unsuccessful traders do you, you too will eventually lose money. Sorry, I know this is a negative post but too many people are struggling needlessly because they've never been given straight talk on "technicals." Personally, I wouldn't be caught dead with a moving average.