Gold Spot / U.S. DollarEducation
Elliot Waves
Not every is perfect, but yea lets not make assumptions or draw our own angles and lines and wedges and triangles and so on.
During my early days of trading, i saw a college intern scaling many lines on the chart, and what was interesting is, it was on 1 minute chart, i could barely see the candles. I asked him what was he trying to establish, he smirked and said he could predict market and that he felt it would go go down any moment.
I was not sure how he came to that conclusion on a bullish market, but yea the market was stuck all day and i found out the reason why it was stuck - he had caged those candles with his lines, i asked him to delete all this graphs and well indeed in some time market did start to move :)
The reason for this sarcastic example is, i do see fellow traders attempting Elliot Waves strategy not knowing or understanding basics .
It is worth the try, but let us not a make a fool of ourselves and not offed the great Ralph Nelson Elliott
Good Luck
During my early days of trading, i saw a college intern scaling many lines on the chart, and what was interesting is, it was on 1 minute chart, i could barely see the candles. I asked him what was he trying to establish, he smirked and said he could predict market and that he felt it would go go down any moment.
I was not sure how he came to that conclusion on a bullish market, but yea the market was stuck all day and i found out the reason why it was stuck - he had caged those candles with his lines, i asked him to delete all this graphs and well indeed in some time market did start to move :)
The reason for this sarcastic example is, i do see fellow traders attempting Elliot Waves strategy not knowing or understanding basics .
It is worth the try, but let us not a make a fool of ourselves and not offed the great Ralph Nelson Elliott
Good Luck
DO WHAT OTHERS DON"T KNOW AND DON'T DO WHAT OTHERS KNOW
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