Elliott Wave Theory

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

  1. 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
    • Supercycle: multi-decade (about 40–70 years)
    • 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. 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


    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!!
    Give me a break already
  5. 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.
  9. Dazz


  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