Category:Ralph Nelson Elliott

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“What is food to one is to others bitter poison.”

Wave 1, 3, 5 or wave 1, 2, 3, 4? The positioning of Elliott Waves in prices is never univocal. Even the top experts often disagree in establishing in which wave they find themselves. Being in wave 5 is very different from being in wave 3.
The Elliott Theory is a very special set of rules that usually creates in a trader who studies it either unconditional love or innate hate; there is no room for mediation of any kind.

Sooner or later, all traders have to face this theory, but its technique doesn’t allow to abandon other theories or not to know them. The problems relative to the Elliott Theory are essentially interpretive problems. The succession of waves is quite simple and the count is mechanical; yet, according to many authors, the uncertainty from which point to start the study combined with huge exceptions will cause the Elliott Theory to be 70% unusable.

Some Americans, and some Australians are doing some alike, developed Advanced GET, a software able to count and position the Elliott Waves, even able to recognize projection points of consecutive waves.

The seriousness in suggesting calculations combined with a refined management of operating signals makes this software a leader in its industry, and it is highly recommended for the Elliott Theory advocates. This software cannot be taken into account for opening or closing positions but it must be known and understood in order to provide a comprehensive framework for considering both, the analysis techniques and the markets which are our analysis object.

That's why, even if briefly, the Elliott Theory finds place in this section.


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