Elliot Wave Theory

[ET180]

What do you guys think about Elliot Wave? Does it work?

 

[themickey]

What do you guys think about Elliot Wave? Does it work?

Yup.

 

[Quark]

It's like chess. A short time to learn, much longer to master.

 

[maxinger]

Because it is a theory, it works in theory only.
In actual practice, it doesn't work.

Most likely Elliot did not spend thousands and thousands of hours looking at charts.

 

[ZBZB]

The thing with technical analysis is that is was all invented when the gold standard was in place so is it relevant when US M1 money supply goes up 40% in one month? Trend following is useful and revalent.

 

[Bugsy]

It's not really cut and dry. Yes you see it, but not like the beautiful patterns described by gurus. The pattern can sometimes just consist of a tiny squiggle on any given leg and basing trade decisions on it isn't worth it imo.

 

[pauk]

Lots of stuff like EW likely used to work

But we're in a different time now. Forces are in place that ensure we will keep going a lot higher and the rules have changed.

Best to just trade using a 'long only' trend following system of some sort. Or just use an oversold occilator and buy. A lot easier tot make money now since we all know where we're headed! You'll thank me when the dow is at 100k!

 

[Turveyd]

Looks Great After the fact, but useless live, only way to make money is to teach it to others.

IGNORE!!

 

[Dazz]

What do you guys think about Elliot Wave? Does it work?

EW is worthless:
there are 7 rooms with EW in their name and 1 more that "trades" EW:
24elliottwaves.com
elliottwave.com
elliottwavegold.com
elliottwavetrader.net
elliottwave-forecast.com
ewotrader.com
thewavetrading.com

None trade live, in fact no trades at all and none have a track record of performance.
Grade F

 

[SunTrader]

Ask a vague general uninformed question, get vague general uninformed answers.