To: Elliott Wave experts or enthusiasts only

Sure, here is my take. It is a huge hoax and bollocks . Why? Very simple. Draw a simple fib series and see for yourself. Prices jump all over, sometimes prices retrace in between two fib levels, sometimes on a fib level, sometimes above, sometimes below. When you quantify the outcomes you realize that it is purely random. Yes, random, like a monkey shitting on a chart and the time series going right through it.

Sorry that I don't have better news for you. But then, you did not think it was really that easy right?

jpvil123 said:
Any traders traders wanna join the discussion? feel free
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Ouch, that was a short tenure. Wish you all the best. People who must be right all the time never make it in trading. Possibly something to ponder about.

jpvil123 said:
I thought this forum was full of mature knowledgeable intelligent people. I guess the fxfactory crowd is also congregating on this forum guess I'll have to find others now.
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Zzzz1 said:
Ouch, that was a short tenure. Wish you all the best. People who must be right all the time never make it in trading. Possibly something to ponder about.
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What does this have to do with technical analysis?
 
Zzzz1 said:
Sure, here is my take. It is a huge hoax and bollocks . Why? Very simple. Draw a simple fib series and see for yourself. Prices jump all over, sometimes prices retrace in between two fib levels, sometimes on a fib level, sometimes above, sometimes below. When you quantify the outcomes you realize that it is purely random. Yes, random, like a monkey shitting on a chart and the time series going right through it.

Sorry that I don't have better news for you. But then, you did not think it was really that easy right?
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If you think the market is too random to profit why are you and the couple of others on this thread even here? Why do you occupy this forum? go get a job in real life then and stop coming here.
 
Na, he deserves an answer, especially given he completely misunderstands my post.

I did not say the market is completely random. I said Fib levels are completely meaningless. The market does not follow nor respect Fib levels. Hence prices are all over the map re Fib levels. How could you even misunderstand that part of my post?

jpvil123 said:
If you think the market is too random to profit why are you and the couple of others on this thread even here? Why do you occupy this forum? go get a job in real life then and stop coming here.
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Zzzz1 said:
Since when do you dictate thread rules?
Are you afraid of critics?
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Because I posted this thread to talk to people that care to share any knowledge or experience and I wanted to totally ignore naysayers. Unfortunately thats all that there
Zzzz1 said:
Na, he deserves an answer, especially given he completely misunderstands my post.

I did not say the market is completely random. I said Fib levels are completely meaningless. The market does not follow nor respect Fib levels. Hence prices are all over the map re Fib levels. How could you even misunderstand that part of my post?
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Go get a job.
 
Maybe it is because it is proven to be complete and utter nonsense? Why wanting to re-invent the wheel if others have already lost the money FOR YOU. Of course you can feel free to wager your hard earned money on Fibonacci retracements. Be our guest.

jpvil123 said:
Because I posted this thread to talk to people that care to share any knowledge or experience and I wanted to totally ignore naysayers. Unfortunately thats all that there
More...
 
Zzzz1 said:
Maybe it is because it is proven to be complete and utter nonsense? Why wanting to re-invent the wheel if others have already lost the money FOR YOU. Of course you can feel free to wager your hard earned money on Fibonacci retracements. Be our guest.
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Go get a job.
 
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