General Topics
Markets
Technical Topics
Brokerage Firms
Company Specific
Community Lounge
Site Support

# Elliott Wave Theory

Discussion in 'Technical Analysis' started by RainMaker3000, Mar 22, 2020.

1. ### RainMaker3000

The classification of a wave at any particular degree can vary, though practitioners generally agree on the standard order of degrees (approximate durations given):

• Grand supercycle: multi-century
• Cycle: one year to several years (or even several decades under an Elliott Extension)
• Primary: a few months to a couple of years
• Intermediate: weeks to months
• Minor: weeks
• Minute: days
• Minuette: hours
• Subminuette: minutes
Are the markets entering a new cycle or supercycle?

.sigma likes this.
2. ### Sekiyo

Why give fancy name to time frame ?
You call a Minute a trend of several days ?

I don’t see where is the Grand super theory. There are so many cycles that you can fit any duration to the nanosecond.

Where are the IF -> THEN ?

It’s just descriptive.
And we already have words for this.

We’re maybe in a paradigm shift.
But it’s not this grand super theory that will tell.

Last edited: Mar 22, 2020
.sigma likes this.
3. ### risktaker

I've studied and applied EW for decades.
It *was* very pronounced on the Dow Jones from 1980-2000 and then things changed.
Regardless, it's of very limited value (if any) in markets and especially in finding an edge which is needed in order to consistently generate profits.
Also, what one practitioner calls an "a-b-c" someone else will apply a different count, so it generates much disagreement, etc because the "rules" are vague and open to interpretation at all points in time.
In hindsight, I'd say, leave it alone - not of much use. In some cases, it can be a curse since once you know the theory and all it's nuances, you'll want to apply it and markets don't bend to such theories in "textbook scenarios".
Run away....

.sigma, fifthavenuebull and themickey like this.
4. ### Dazz

T
There are over 80 trade rooms that claim to trade EW, have EW in their name (elliottwave.com; elliottwavegold.com; elliottwavetrader.net; elliottwave-forecast.com; 24elliottwaves.com) or sell EW indicators and not one trades!!! No one had a track record!!

5. ### risktaker

Same goes for EW newsletters/books/software...all marketing.

fifthavenuebull, Dazz and themickey like this.
6. ### Dazz

Same goes for Fibonacci everything and every institute and academy; I guess dead mathematicians are not very useful.

7. ### kmiklas

EW has lots of glam: pretty spirals, sexy theory, Fibonacci... but imo, in practice, it's trash.

themickey likes this.
8. ### maxinger

some people pronounce

Elliot Wave as Idiot Wave

Dazz and kmiklas like this.

perfect!!

10. ### panzerman

The problem with EW is that it isn't based on any fundamental scientific or engineering principles, just the observation that prices seem to behave like waves.

If you think prices have wave and cycle like behavior, then you should apply digital signals processing (DSP) methods. At least DSP is solidly rooted in science and engineering. Of course the argument against DSP is that anything from the world of physics applied to financial markets is a misapplication of the physics. That is a philosophical argument you must decide on for yourselves.

#10     Mar 31, 2020
ET IS FREE FOR TRADERS BECAUSE OF THE FINANCIAL SUPPORT FROM THESE SPONSORS: