SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: POKERSAM7/30/2022 8:10:38 PM
1 Recommendation

Recommended By
berniel

   of 1782
 
I was obviously wrong. So far, I missed the top call of this advance by 4.11 points. My calculation of the top was obviously off by at least 4.11 points. My inaccuracy is disappointing but instructive. A rule I have followed in the past may not be valid and will require further scrutiny in the future.

IF 4140.15 or near that was the top of this advance, then a huge decline of near 740 points lies ahead. Based on my count that will end wave A of the bear market. Those 740 points are based on what I believe to be the most probable of several possibilities. This will prove to be correct or disproved by future market action.

Understanding and application of Elliott wave is a never-ending learning process the end of which no one has fully reached. Some think they have arrived and know all there is to know about Elliott Wave, but that attitude only puts an end to their progress. Their conceit and lack of humility makes further understanding impossible. They are nothing more than empty noise. I also believe there are some real students of Elliott Wave out there who are at different stages in their journey.
Elliott wave has been around for nine decades, and I do not believe that all it has to offer has thus far been fully mastered by anyone. There is always more to learn and more to understand.

My own journey into understanding and applying Elliott Wave Principle has been 20 years long. It has been marked by many failures and many successes. It has also been marked by progress as evidenced by a vast improvement in accuracy. My accuracy, though vastly improved, has not nor will it ever attain perfec- tion. I am a student of EWP. I practice EWP. Doctors of different disciplines practice medicine. They apply what they know while always being open to learn as knowledge in the field increases.

I respect everyone else's system that works for them. I have no respect for those who attempt to hide their ignorance behind being permanently anything. The market fluctuates. The whole purpose of technical analysis is to forecast those fluctuations both up and down. A long term weekly or monthly chart of the markets always moves from the lower left to the upper right. This much is obvious to all. But within that upward movement are many corrections and bear markets to which some are oblivious. These are the purview of the technical analyst.

Example: In the early editions of Frost and Prechter's "Elliott Wave Principle" the alternation of patterns between waves two and four was presented in a chapter titled the "The Rule of Alternation". In later editions the rule of alternation was changed to the guideline of alternation due the realization that there were times that alternation did NOT take place. In EWP rules cannot be broken. Guidelines are just what the name implies.
All true students of Elliott Wave Principal have to admit there is always more to learn.
The final word in Elliott Wave has yet to be spoken.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News