Does Elliot wave work?

Does Elliot wave work? It only seems to work in hindsight...

Does it give you insight into what's going on with the market that you're looking at?

Yes? Then it works.

If not then, you're correct, the analysis is only a history lesson.

Same with any form of market analysis.

Personally, I don't get much out of Elliot Wave but, that shouldn't mean anything to you at all.

All the best!
Brent

If you use it to determine whether you are likely to be in a trend move or countertrend move, it does. If you use it to predict where the market is going - probably not. That Elliott's waves exist is an easily observable fact. Is the market always in an Elliott wave of some kind? No. Another easily observable fact, if you don't become obsessed with counts and always being right. Used to simply determine how the market is moving trend or countertrend, it can be quite valuable. Anything more than that, it will probably be disastrous. If the first rule of trading is always to trade with the trend, Elliott wave is best way to know that you are doing that with any precision at all.
Beyond this your question will probably garner nothing but lunacy or flames.

For some people it does and for others it doesn't. It's just a way to look at the market and each person has their own filter on how they view the market so-to-speak.

I don't know your level of experience in the markets, but you can always trade it on demo for awhile and see if it 'clicks' with you, if not move to something else. I personally like trading price action at areas of support and resistance.

Try different things and over time you'll find a method that is right for you.

Not sure you are inferring to Analysis of EW or Trading with EW.

But if you are refering to Making profitable trades with EW, I would suggest

Robert Miner's EW version..Dynamic Trading with EW.

Cheers!

It's like any tool in any profession, it's as good as the operator. A hammer is great for hammering nails, but in the hands of an amateur, it's good for sore thumbs and busted fingers.

fwiw,

It works if you know how to spot reversal points in price. It works in hind-sight because you can clearly see the reversal points. Also, you must know the difference between reversals and retracements. If you have no idea in spotting reversals in real-time, then Elliott Wave is probably not for you.

You got it, everything works awesome in hindsight.

Regards, John

in forex nothing works 100% and nothing fails 100%. but few things have higher probability of success compare to other things.

This myth has been bouncing around a long time... time to get busted?

Naa, just kiddin ;-)

EW never wrong, it depend how you count wave.