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>Carlos Lourenco wrote:
>>
>> I've studied/used Elliott Wave for some 12 years now.
>>
>> The only place I can count the waves with any accuracy is on the Dow Jones.
>> Have tried reading waves on most indexes and other futures/commodities but
>> the count just isn't there! I think most people who claim to use Elliott,
>> really use it in a way that's basically useful only for setting stops.
>>
>> Other than that I would say that anyone who claims to be able to count
>> waves on charts other than the Dow is delluding him/herself.
>>
>> That's my opinion and I'd like to hear from anybody else out there using
>> Elliott Wave.
>>
>> Carlos Lourenco
>> lourenco@xxxxxxxxxxx
>
>
>Elliott is always easy to read in hindsight. In trading, don't bother finding
>the correct ABC count, just look for clear impulsive patterns and trade your
>other mechanical systems with this orientation in mind. Knowing your odds are
>in favor of a trend move in your direction, you can pile in more aggressively
>if the market confirms. This is the best edge I can find in Elliott analysis.
>
>Gwenn
>
Gwenn,
Your first sentence is WRONG....even after the event it can be hard to
determine an accurate wave count on many markets.
Your second sentence is WRONG...markets rarely do impulse waves
(despite what all the books tell you) and you don't know they are
impulse until it is too late. Therefore, trade the 'A' and 'C' waves.
If they turn into larger impulse patterns then all the better.
Adrian Pitt
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