History is known to repeat itself, however do you think the Elliot wave theory works simply because a lot of people think it does? I mean I would think the only people who can manage to forecast the market would be institutions such as Goldman Sachs. Any past experience with Elliot wave regarding its performance and consistency would be great if you post it here.
Elliot Wave Ocillations, Market Forecast
- Thread starter RusC
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Try it out for yourself for a few months. Elliot wave analysis is always open to a lot of interpretation. Easy to find some waves on old charts but alittle tricky to do in real time (for me). Kinda the same deal with Andrews pitch fork, Gann lines etc. , Fibs are in the same group except more people utilize fibs in some form so they are IMO more of a self fulfilling analysis than Elliot/Pitch forks/Gann. It changes though, everyone was using Bollinger bands in the late 80's like we use fibs today and we all could be pitch forking in 2025. I personally find waves useless but know some people have success using them on a weekly or monthly TF's. I don't think it has anything to do with the analysis or the math, its what the people believe about the analysis that makes it seem accurate.
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