Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: shades who wrote (62783)	4/26/2005 8:16:48 AM
From: Moominoid	Read Replies (1) of 74559

"The Elliot Wave Theory is remarkable for never having predicted ANYTHING correctly." IMHO Prechter pushes E-Wave too far... it seems most useful in the time frames from a few days up to a few years. Trying to predict everything over decades or centuries using this method is not going to be useful. Similarly, people who look for Kondratieff or shorter cycles of fixed length. That's not the way the economy works. There are cycles, but they are irregular and stochastic. The biggest insights in E-Wave come from the basic breakdown into impulsive and corrective waves and their typical patterns. In traditional chart pattern TA, they said that triangles could break either way for example - up or down. E-Wave tries to determine if the triangle shape is an ending diagonal or an E-Wave triangle. If you get it right then you know which way the trend should break to when the triangle shape is complete. Still it is very hard to get the patterns right going forward but I think it gives a little more visibility than not using it.

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