Elliott wave charts & predictions

padutrader said:
i had them....

thrown them all away including brooks eliot gann
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So you're giving up on Brooks as well? :wtf: Well, it's probably a good thing for you.

padutrader said:
two elliot technicians cannot agree on any targets or wave counts...
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Yeah, but this is also true for just about all other indicators. Anyway, carry on.
 
schizo said:
What a clairvoyant you are! I just wish you'd have said the same thing 2 years ago.

Be that as it may, I'll reference this following chart in the future. Frankly, the scenario doesn't sound that bad (a lot more realistic than the $1M pipe dream cooked up by the Bitcoiner community :)). Good luck!

clipboard1111-jpg.337823
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Weve revised it to 2 million schizo.Just recently.:D
 
wxytrader said:
I look at EW as the foundation for all TA to build from. It's like the Brazilian jiu-jitsu of MA. It is essential you have an understanding of it to be successful.
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Then it is not very good because striking will always be more effective than ‘rolling’
 
wxytrader said:
Did Gerald Appel? He created the MACD...probably both of them make more money selling books on the subject. These are tools not holy grails.

https://en.wikipedia.org/wiki/Ralph_Nelson_Elliott
https://www.elitetrader.com/et/threads/did-ralph-elliot-die-broke.287263/
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Gerald Apprel was a genius.
MACD is a great tool.
Back in the day, it was all done by hand, done on a sheet of chart paper.
Appel was probably using a mainframe computer (server-side applications), and as PCs became ubiquitous, Appel's vision became one of the best tools of TA.
I have Appel's book here. I will have to pull it out here this weekend.
The genius of his vision is to quickly move to different time frames (daily to weekly to monthly, etc). Appel was likely using a mainframe which was an EXPENSIVE subscription. In the 90's it all migrated to PCs. IBM (mainframe dudes) would always rule supreme (so they thought). Five PCs around the world would be the Max. Wow, did they miss the turn (almost as bad as Kodak.). Anyway when Appel's idea went to PC (cheap), the whole thing zoomed.
Most people have probably stopped reading by now.
That's a good thing.
That's a lot of the reason they are barely profitable traders (or not at all).
Appel's MACD lines (left and right hand crossovers, and the histogram), very reliable trading signals. But when you put these together with many of the oscillators (RSI(5), Fast Stochastics), THEN you can see the Elliott count. But you need a quiet mind to get it.
That's why I'm posting this at 4;00 AM. Everything is quiet.
That's MY business hours.
A lot of hitters say the same thing.
Ed Seykota, the "The Whipsaw Song".
He says "you'd have to be crazy to have a computer on during the day".

Profitable trading is out there, just let it in.
 
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schizo said:
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.
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any prediction has a 50% chance
i think tossing a coin will give similar results
 
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