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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 9 4:00 PM EST

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To: ru2 who wrote (77839)	6/3/2001 11:37:54 PM
From: bobby beara	Read Replies (2) of 99985

What's the shortest time frame you find elliot wave theory to be useful?>>> the counts are not always easily identified i use 15-60 minute charts, plus daily charts for a swing movement. The thing about elliot is that if you can identify a five wave move or a 3 wave countertrend move, you have an easily identified entry and exit point for a stop if your wrong, but once the count is exhausted the market must turn, trying to find a big picture wave count is an exercise in futility, prechter can vouch for that. elliot patterns are there, but it's not something i would only put risk money on, you need a confluence of indicators to find low risk entry points.

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