|On this thread we discuss trading using mostly TA, with some use of FA when relevant. The special emphasis is on Elliott Wave analysis. We welcome ideas and discussion related to Sentiment, Momentum and Trend Following.|
Prechter's Page elliotwave.com
Join club EWI and read the free tutorial first. It's basically an online version of Elliott wave Principal. IMO, it is well worth the money to subscribe to EWI services for a while. Reading them regularly, for at least a few months, is probably the best and most cost effective training available. But - would not advise to follow them (or anyone) blindly in your trading. Use your own judgement. Take responsibility. Be in the driver's seat.
Always give a lot of weight to the prevailing trend. E-waves have a tendency to make you look for "completed structures" and too expect reversals. You will find that a lot more often waves will just keep subdividing in the direction of the larger trend. Big, important reversals will happen, of course.... but they're just too uncommon to make looking for them a worthwhile effort.
Watch out! Sometimes, unrelated cycles and events may appear as "meaningful" patterns.... :) youtu.be