Elliott wave does work

Thanks, benleeph for the recommendation. Do you mean to apply the fibbonacci formula for the Elliot wave?

TraderZones, please explain the above. Thanks.

 

It works, yet it not always immediately evident. Everything needs to be confirmed, and The corrective waves, are hard to forecast and always need to be confirmed.

 

Both Elliot Wave and Fibonacci show little value under testing.

They are both essentially myths, but held by many, in spite of the evidence.

Learn to trade. And stop believing in fairies.

 

Do tell more of Elliot wave. It is Technical Analysis method (TA). It seems that TA working is like testing a software system before giving it to client.

Why people against TA, against Elliot wave?

 

Thanks to you all for the responses. I shall consider the same before going ahead with them,

 

People might be against this as it is not easy to understand and follow, just like many students do not like math & science at school (maybe the same here). It requires a lot of study and you need to be clear on how you apply these principles. Another problem with Elliott wave is it is somewhat subjective, even though there exists programs which claim to count Elliot wave automatically.

 

If you ask me i really dont believe in EW. Too subjective and impossibly difficult for my liking

 

there is only one elliott book worthwhile to read"

http://www.amazon.com/Mastering-Elliot-Wave-Presenting-Forecasting/dp/0930233441

 

Any website of the author ?

 

Science can prove a Bumble Bee can't fly, but the Bumble Bee doesn't understand science and goes ahead and flies anyway!