I have never personally met anyone who could make money using Elliott Wave and Gann Lines in a live market with real money. I am sure that there are a few out there, but there are way more forex bucket shops and educators using it for promotion than there are successful practioners IMO. The requirement for overlap and offset compensations to make adjustments for the wave counts changing with the natural ebb and flow in the market makes it too inconsistent again, in my opinion. But, an Elliott Wave chart is the best looking most obvious technical chart there is. Too bad the wave counts are always changing once you've taken a position.
I have seen traders use various combinations and permutations of every other technical study to make money. I have seen strict order flow 'tape readers' make money. I have seen order queue gamers make money. I have seen automated market makers make money. There is no one correct way or methodology. If you can find some way to be consistent then the worm will turn for you. If I had ten traders in a room, introduced them to a simple Moving Average Cross system for trade entry and trade exit on one product, I can promise you that you would have ten different P&Ls at the end of the day - and the big kicker would be that I would lay odds that the variance between the P&Ls would be larger than common sense dictates. Never underestimate the human being's capability to self-sabotage himself and get way to cute for his own good. Occam's Razor.
Go find a Bloomberg Professional Terminal sales guy (you know, the $1900 per month 3 year contract product) from Manhattan and ask him what strategy most of his clients are using.
The biggest flaw I see in clients is the timeframes they are using and indeed how they are using them. Timeframes are typically more important than the study in many cases.
