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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (171933)	4/20/2022 6:56:49 PM
From: POKERSAM	1 Recommendation Recommended By Mevis Read Replies (1) \| Respond to of 218442

You said. I see -- for what I call the good practitioner's of e-wave -- they use as a useful dynamic construct -- they change their counts easily as time unfolds and doesn't follow script. That is exactly correct. An Elliottician has to realize that his Elliott Wave charts are based on current evidence. There are times that new evidence appearing in market action will invalidate your count. A rule break will occur or a better way to count will be revealed by market action. Then the Ewaver must be quick to change to meet the current evidence. Those who know little about EWP always call this a weakness when in reality it is one of the strengths of EWP. If you are wrong because you had only the current evidence or lack of EW knowledge, the rules will correct you. You must be willing to except the facts and change the count and chart. I call it humility before the truth. Some let ego or fear of the crowd etc. make them hesitate. Big mistake. There are times that are actual, or just due to lack of knowledge, that it is difficult to nail down the count regardless of your best efforts. You may see two counts that both work for a time. These times are more frequent for beginners. When this happens it is good to have an alternate count. So you end up with a primary count that you follow and believe correct and an alternate count that you stay aware of just in case. This is the right way to handle it when you are in doubt. With study and experience these times become more rare. Sometimes they are unavoidable but these also become rare. When dealing in the very short term it is sometimes better to wait and see what develops before making a commitment. The market will tell you what it intends to do. As with all T/A, the whole purpose of EWP is forecasting. It makes possible forecasting direction and target in all time frames with a great deal of accuracy. It is not for everyone but for those who have the temperament and the time, it is very valuable.