Quote:
Originally Posted by Buehler445
Do you subscribe to any of those Elliot wave newsletters?
I know a guy that follows them. Nothing makes me want to eat a bullet more than trying to figure out if some move meets all the rules, figuring it all out only to have it do not that, and have some pretentious douche write about how obvious the structure was. LOL.
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No. I read a book about 30 years ago titled "The Elliot Wave Principle" and while I believe Elliot Wave Theory is practical it is very hard to use. It is very subjective such as trendlines. However, from a general perspective it is very good to have an understanding and while I don't use it for forecasting, I do think it has a value in hindsight. Meaning it's good to look at what has happened to get a gauge on where you are or might be overall. So maybe a little forecasting but I don't do a lot of the projection stuff. I will slap on some retracements at times just to get a general idea of where the levels are going to be.