DislikedHi Ew people. hope you are all making money based on your Ew counts, and that your EW counts could correcty see the bounce from 1.187* area and the drop from 1.33 area and the bounce from 1.26 area to the present...............if you could not forsee those turns based on Ew i dont see the merit on calling a turn now or later.
my learning in Ew lasted some weeks and i could not understand it due to my low IQ and now it is deleted from my mental system since it started affecting my trading and now i am back to my faithful SR lines and pA.Ignored
you have to decide what you believe - and more important - what you trade.
I do not think in terms of EW sh!t, TA good, Candlestick Voodoo, PA holy grail, or vice versa.
Tell me the names of the few TA-People, that saw the drop coming at 1.6 or 1.5
EW-people (best example is Prechter himself, who called the top at 1.60 and 1.5 correctly) did and for sure a few knowable traders here. It is the habit of beeing flexible and weigh the chances.
Relying on EW alone could be at times disastrous. One has to combine it with a little TA, sentiment data and a few other methods like Murrey Math or Ichimoku.
Looking only at TA is like driving car with only looking in the mirror. You will not see the next curve because of extrapolating the long straight street into future.
EW tries to give this road the necessary twists and turns and curves based on the concept of universe and evolution: 5-3
To try to learn EW in only a few weeks is overconfident. You must life with EW. After month and years of practice you will get the right look and you can sense movements very often (it is like training Aikido etc.). That does by no means mean, that EW-people can not be wrong or have not to recount the waves. Especially when you count intraday, you have to recount constantly.
But I have most of the time (not today I admit) a very clear idea of the next move.
I trade the waves like they evolve.
Stay open minded,
Markus
