Correct Elliot Wave Counting for S&P

This is a discussion on Correct Elliot Wave Counting for S&P within the Technical Analysis forums, part of the Methods category; Hi, I am new to elliot wave counting. My question is, how would I know whether graph 1 or graph ...

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Old Jun 23, 2012, 3:37pm   #1
 
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Correct Elliot Wave Counting for S&P

Hi,

I am new to elliot wave counting. My question is, how would I know whether graph 1 or graph 2 is correct counting ? They both fit the 3 rules of :

(1) Wave 2 does not extend beyond the start of wave 1
(2) wave 4 does not enter price territory of wave 1
(3) wave 3 is not the shortest of the wave.

Graph 1:

Click the image to open in full size.

Graph 2:

Click the image to open in full size.
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Old Jun 23, 2012, 3:55pm   #2
 
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Re: Correct Elliot Wave Counting for S&P

The one that can be seen to have worked after the fact is the correct one. Really.

You might not like that. But they're subjective. There is no real correct way, it's not a science.

Last edited by Shakone; Jun 23, 2012 at 4:03pm.
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Old Jun 23, 2012, 4:11pm   #3
 
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Re: Correct Elliot Wave Counting for S&P

v1k45 started this thread
Quote:
Originally Posted by Shakone View Post
The one that can be seen to have worked after the fact is the correct one. Really.

You might not like that. But they're subjective. There is no real correct way, it's not a science.
So they could both be considered correct?
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Old Jun 23, 2012, 4:27pm   #4
Joined Apr 2011
Re: Correct Elliot Wave Counting for S&P

Vikas - you may want to look at the thread below and ask the thread owner if you have any questions http://www.trade2win.com/boards/us-i...ml#post1884516
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