DislikedYeah, that's the idea....Ignored
DislikedJust to let you know that elliot waves work maybe 50% of the time. They are very good after the fact but, when you are trading the chances of you getting the top using elliot waves is really slim. The markets might even give you a perfect count but then the waves start to change and the wave that you counted actually becomes a wave three top not a wave five.
I have attached a chart for you to see, the wave count obeys elliot theory, but as you can see the market takes out the wave 5 high. I lost lots of money trading elliot waves on the daily...Ignored
DislikedI know this thread is old, but I just had to reply having read this....
If you want to become a professional trader learn how professional "investors" (Buffett, Soros etc) do it, they use EWT!
DislikedI... you have clearly not understood the basic rules of Elliott Wave Theory, one of the being "wave 3 CANNOT be the shortest".
In your pic you have labeled wave 3 is same size as wave 5, HOWEVER, looking at the chart your wave 1 is longer than wave 3 & 5. THEREFORE, wave 3 on your chart is invalid ...Ignored