Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Quote:...This is where we're supposed to say that Elliott wave analysis is Yoda of market forecasting -- i.e., it has the answer ready at all times. That Elliott wave counts are never ambiguous, Elliotticians are never uncertain, and there's always a clear scenario unfolding.
Not exactly!
Elliott wave analysis isn't magic. It, like any form of technical analysis, is about probabilities and NOT100% certainties. But there is a crucial difference:
Even when the outlook is hazy, wave analysis always provides you with a few price levels which, if broken by the market, either confirm or negate your expectations. You don't have to "come back later" for a news story -- because you know ahead of time what to look out for.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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