I'm reading through a book on Elliot Wave and it doesn't really say how you are supposed to start counting waves. Looking at a daily and weekly chart, how do you begin?
Bravo you just pinpoint the core of the problem As for myself I never go farther than abc with Elliottness Happily I can do my own kind of elliott charts with my model (It's a degradation of my model but more easy to interpret and then check afterwards on the model): My model inject automatically the wave 1 since after wave 1 it is automatic procedure. Nevertheless I don't pretend that it is Elliott but a golden wave framework like elliott but more easier, more precise (as far as I can check but I must do more thorough comparison the problem is real time elliott charts are rare) less complicated but perhaps less rich then in interpretation power I must check that part.
This is a useful link but don't get a headache http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500-Articles/EWRules.htm
I'm working off of Prechter's book. Anyone care to comment on the shorter term newsletter from Elliot Wave International.