Zman Market Timing Message Board

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Strategies & Market Trends : Zman Market Timing

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NOW

To: NOW who wrote (686)	11/1/2013 2:59:05 PM
From: skinowski	1 Recommendation Read Replies (1) of 15903

You remember how many years ago, on the old EW thread, we used to discuss wave counts, argue about them.... I had to conclude that it wasn't worth it. Too often there are too many possible counts, and choosing the "favored" one simply becomes a question of how good a trader you are (-g). As you say, impulses may look like sharp corrections, and vs. versa. Another issue with EW is that it keeps pointing to "completed" structures and likely reversals - which do not materialize. It's no accident that many excellent Elliotticians, including Prechter, do not do well in the markets. AND many who may be not as good, actually do well. Once in a while you run into something that is really high probability - but for the most part, "counts" are best seen as only "suggestive" evidence.

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