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>I am just trying to learn if there are any adherents of the Elliot Wave
Theory(EWT) on this list. If so, how relevant is the theory to the
modern-day markets. Assuming that EWT has relevance, is it correct to
expect that some markets that are down 40-50 per cent since 1 Jan. 1997,
will ever return to this levels. In the same vein, does EWT state that
markets that are 'up' by 200-300 per cent, can one day be down by the
very same margins. Any links of Elliot's theory on the web would be
welcome.
>hum.
>Moscow
Reply:
As far as making future market projections go, there is nothing else to
but the Elliott Wave principal. All other technics are trend following.
Since we are always trying to find out what the market will do in the
future rather than in the present, a working to better knowledge of the
EWT is a must for anyone trading Equity/futures/forex or for that matter
any financial market. Not only does the EWT give you the extent of what
is in store, it also gives you the kind of move which you could expect.
This acts as a kind of a check on your major count so that you can
continuously cross check your expectation with what is actually
happening in the present. This is particularly important because many an
Elliotician fails to link his forecast to the market. They therefore end
up trading the forecast rather than the market!
Dr.Narayan
Bombay,India.
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