Quote from Charlie Dow:
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Price is totally random in its movement but let's look at it's flawless consistencies.
1 - Price continuously oscillates creating tops & bottoms. (waves)
2 - Once price creates a top it will oscillate to create a bottom.
3 - Those price tops and bottoms occur sequentially, one chart at a time.
4 - Those price tops and bottoms occur at both extreme levels (High Tide/Low Tide) and levels that aren't extreme (waves). [Tracking those levels create definable, readable and tradable trends]
These are just a few example of price's consistencies. Now set up a controlled environment where those and other flawless consistencies can be read as price moves in real-time and you will see price's flawless flow. You see I said read and not predict. I state it this way because one can't predict price movement but can read it's movement within fixed environments (chart increments). I will add that one can not use minute charts or tick charts to read price action accurately because those chart increments are not accurate assessments of true price action. Minute and tick charts are variable charts and one can't use a variable chart to read flawlessly varying price increments (flawlessly random).
{Do not be misled - Elliott is wrong in thinking that there is flawless consistency in the number of waves in overall Market price action.}
Inside this controlled environment, TRENDS EXIST and ARE READABLE! This controlled environment is not a manipulated environment because all one is doing is eliminating the variable in all situations from the trading environment EXCEPT the pure randomness of price.
Odd's opinion of the Market's movement is accurate for his environment so his is absolutely correct in HIS assessment of price movement. He is unaware that anything else exists so to him it doesn't exist.
This is why I don't argue with people any more regarding trend. Trends exits if you know how to set up the environment, where to look and how to read it but if you don't know this you will still see snowflakes as flawless unique entities with absolutely no consistencies.
The Hubble telescope has overturned theories we held as irrefutable for decades. Computers and intense charting technologies has done the same thing for evaluating price action.
