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The Power Of Elliot Wave!

  • #1
  • First Post: Feb 8, 2018 4:17am Feb 8, 2018 4:17am
No matter how much I try to run away from EW, sooner or later it catches up with me. I have, in the past, tried to rationalize that the markets are absolutely Random and NO patterns exsist. And to a large extent I truly believe that this is true. But then EW just pops up and starts to make sense all over again. I guess that's the human error, perception that makes EW so unpredictable.
Whatever the resaon, whether you have faith in EW or not, One cannot simply deny The Power of EW.

So here goes. My input on Gold.
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  • #2
  • Feb 8, 2018 4:52am Feb 8, 2018 4:52am
Indeed I agree that Elliott Wave Theory is one of many existing and very powerful delusions caused by this.

Interesting mix of psychological biases are in play here. Because this activity include significant amount of risk and uncertainty as well as potential financial rewards, this becomes the perfect environment for the development of powerful delusions.
  • #3
  • Feb 8, 2018 5:18am Feb 8, 2018 5:18am
Yes you're absolutely right. EW is very powerful if you fully understand all patterns and TARGETS (!!!!!!!!!!!!!).

... but ... your EW count is totally wrong
  • #4
  • Feb 8, 2018 6:27am Feb 8, 2018 6:27am
EW does have a place in technical analysis. However, taking it to the extreme, particularly using the convoluted patterns associated with the corrective phase could be disastrous imho.

KP
Do your homework, follow the footprints of smart money
  • #5
  • Feb 8, 2018 6:29am Feb 8, 2018 6:29am
Of course patterns exist. The main question is just whether or not you can extract value from them over the long term.
Stochastic and Heikin Ashi
  • #6
  • Feb 8, 2018 9:00am Feb 8, 2018 9:00am
kf,

here is for comparison the Elliott count of Gold from EWI for the last two years.

Sixer
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  • #7
  • Edited Feb 9, 2018 1:10pm Feb 8, 2018 7:10pm | Edited Feb 9, 2018 1:10pm
EW is very interesting. now if EW really works i think the only problem is that market (and life itself) is always in a wave within a wave, which is in a wave and so on. thats why i believe at some point no one can predict every new wave because we dont know which bigger wave we are in. my explanation might sound weird.
  • #8
  • Feb 9, 2018 3:31am Feb 9, 2018 3:31am
I agree with the author that it's impossible to escape from the market perception by the wave patterns, having learned once how to use Elliott waves. Perhaps im mistaken, but the wave theory is fragile enough and it's easy to break it if the rules of analysis are not implemented. It's like a diamond, which is solid, but fragile.
Dont hurry in three situations: marriage, sex, trade.
  • #9
  • Feb 9, 2018 3:39am Feb 9, 2018 3:39am
If Elliot Wave really worked that great, wouldn't everybody using it be a billionaire? Just curious....
The only system that will work is one designed by and for yourself.
  • #10
  • Feb 9, 2018 4:46am Feb 9, 2018 4:46am
Quoting bloodpoodle
If Elliot Wave really worked that great, wouldn't everybody using it be a billionaire? Just curious....
And what does work?
Probably it's something unassailable. Such a question does not need an answer and can not be rhetorical. One of the greatest forex uncertainty.
Point of view is a common opinion, passed through the prism of experience
  • #11
  • Feb 9, 2018 5:38am Feb 9, 2018 5:38am
Quoting kevmcfoster
No matter how much I try to run away from EW, sooner or later it catches up with me. I have, in the past, tried to rationalize that the markets are absolutely Random and NO patterns exsist. And to a large extent I truly believe that this is true. But then EW just pops up and starts to make sense all over again. I guess that's the human error, perception that makes EW so unpredictable. Whatever the resaon, whether you have faith in EW or not, One cannot simply deny The Power of EW. So here goes. My input on Gold. {image}
Amen to that buddy. Subscribed
  • #12
  • Dec 29, 2023 12:46am Dec 29, 2023 12:46am
Quoting bloodpoodle
If Elliot Wave really worked that great, wouldn't everybody using it be a billionaire? Just curious....
What system works afterall?
  • #13
  • Dec 29, 2023 1:01am Dec 29, 2023 1:01am
Quoting bloodpoodle
If Elliot Wave really worked that great, wouldn't everybody using it be a billionaire? Just curious....
a lot of strategies work tbh but what makes us lose is the patience/ waiting game and leverage and until you surpass that you'll keep losing my guy
  • #14
  • Last Post: Dec 29, 2023 11:24am Dec 29, 2023 11:24am
Quoting bloodpoodle
If Elliot Wave really worked that great, wouldn't everybody using it be a billionaire? Just curious....
But life keeps us on our toes and makes the game more interesting
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