Elliot wave fractals

[momothebored]

I see many corrective waves breaking into full impulse 5 waves, and not the sharp ABC or flat corrective waves patterns they're supposed to.

Is there any way predict when a corrective wave is going to turn out as an impulse?

thanks

 

[Splitlink]

I see many corrective waves breaking into full impulse 5 waves, and not the sharp ABC or flat corrective waves patterns they're supposed to.

Is there any way predict when a corrective wave is going to turn out as an impulse?

thanks

The short answer about prediction is "No" and the smaller the timeframe, the less predictive it is. The larger the timeframe the more the risk has to be taken to stay in the trade.

What you have to do is try to predict where the mass of stops are, because the market will try to take them out, usually successfully.

Elliot wave is, I'm afraid, old hat to the markets and so much money is involved that millions is invested in the most elaborate software imaginable.

Software programming has taken any logic out of trading. It is, in my opinion, a pretty much random affair, these days. for us scrubbers!

 

[momothebored]

The short answer about prediction is "No" and the smaller the timeframe, the less predictive it is. The larger the timeframe the more the risk has to be taken to stay in the trade.

What you have to do is try to predict where the mass of stops are, because the market will try to take them out, usually successfully.

Elliot wave is, I'm afraid, old hat to the markets and so much money is involved that millions is invested in the most elaborate software imaginable.

Software programming has taken any logic out of trading. It is, in my opinion, a pretty much random affair, these days. for us scrubbers!

Have you embraced efficient market theory and given up trading?


I know so many people who end up wishing they'd never traded.

 

[Splitlink]

Have you embraced efficient market theory and given up trading?


I know so many people who end up wishing they'd never traded.

I would not go so far as to say that I wish that I had never started trading, but have never thought, too much, of Elliot patterns. They are too vague and many traders would argue about where the peaks and troughs are. Where to place stops is a matter of personal opinion.