June 12, 2018

Why do Elliot wave analysts keep "revising" their wave counts?

Read more at http://sweeglu.com/fresh-elliott-wave-analysis-of-nifty-on-all-time-frame-dated-03-jun-2018/

One thing I dislike about EWT is there are so many possibilities (3 patterns for impulses and 11 for corrective moves) that an analyst ties himself in knots trying to understand what is happening. And if you get 2-3 analysts it is impossible for anyone to agree.

My common sense tells me when there are so many counts and possibilities then chances of you becoming wrong increases dramatically. The best analysis is something which you can explain to a 10 year old in say less than 5 minutes. More analysis does not lead to better results.

Visit any EWT blog and see how counts have been changed every few months (basically rewriting the past in light of what has already happened).

No comments:

Post a Comment

Share this...