there are maybe 40 different types of corrections most of them complex and you are talking about the most simple one. this is hilarious and very misleading.
ROLF. Yes it moves in measurable cycles, until it does not. EW does not have some magic golden ratio, fractal possession over the markets. It is your confirmation bias and lack of actual experience using it for live trading that makes it look interesting. But if you want to try and build a system around EW, go for it. See you back in about 100 hours of research.
I have already mentioned all this Paddy, if people want to learn how to chart an actual correction then there are plenty of resources. This is just showing you the Fibonacci levels, it isn't really even EW. How price gets there, and where to enter is how the charting comes into play.
Each wave has specific target levels that can be used for entries and exits. This is a little more involved that Brooks counting 16 candles hi/lo or bull break out fails lol. Yes I have all the books too.
more like this.... elliot used to call this a complex flat and a simple ABC with a range thrown in between. best of luck is bloody right
which are always non specific two elliot technicians cannot agree on any targets or wave counts... i use a coin to trade and i got 100% hit rate yesterday
For the time being, I'm gonna give him the benefit of the doubt. I wanna first see how his prediction pans out. If his prediction fails, it wouldn't be too late to jump on him then.