MoneyTec Traders Community Forum - View Single Post - Elliott Wave Theory shouldn't be used for Forex

wavetrader · 25-10-2003, 09:58

One of the beauty (IMHO) of EWT is that waves group together to form waves of larger degrees and divides into subwaves of lower degrees.

So somehow, a certain wave we identify at a certain degree will be part of a wave of a higher degree which in turn is part of a wave of another higher degree.

So in the end, in order to maintain the same 5 wave structure throughout all degrees, we must assume a certain currency is always in bull market of the largest degree relative to another one.

This doesn't make sense.

25-10-2003, 09:58	#3
wavetrader level 1 Join Date: Oct 2003 Posts: 6 Downloads: 0 Uploads: 0 Rep Power: 0	One of the beauty (IMHO) of EWT is that waves group together to form waves of larger degrees and divides into subwaves of lower degrees. So somehow, a certain wave we identify at a certain degree will be part of a wave of a higher degree which in turn is part of a wave of another higher degree. So in the end, in order to maintain the same 5 wave structure throughout all degrees, we must assume a certain currency is always in bull market of the largest degree relative to another one. This doesn't make sense.