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

Wallace · 27-10-2003, 13:44

Wavetrader, Elliott's theory is first and foremost about the BASIC form of the manifestation of price movement.

Elliott was so enthused about the fibo ratio/series he referred to it as 'Natures Law', providing numerous examples of its manifestation other than price movement to illustrate his belief. While the manifestation of fibo ratios/series in a tree and a flower may be similar, one doesn't expect the growth of the flower to be as great as that of the tree.

There is then something of a dichotomy between human activity v Natures Law, as interpreted by Elliott, that in attempting to provide a 'single theory' to describe, EWT comes up short, or perhaps, overstates reality.

EWT fits into the DJI because the stocks in the index are weighted and owned in large quantities by many people, creating 'perfect' (?) balance EW/fibo price manifestation.

I'm posting Tom Joseph's 'Advanced Get Mechanical Trading System' in the 'Trading Methods and Strategies' forum, which you may find helpful in trading with the EWT. Wallace.

27-10-2003, 13:44	#6
Wallace level 3 Join Date: Jan 2003 Posts: 737 Downloads: 2 Uploads: 0 Rep Power: 0	See pdf Wavetrader, Elliott's theory is first and foremost about the BASIC form of the manifestation of price movement. Elliott was so enthused about the fibo ratio/series he referred to it as 'Natures Law', providing numerous examples of its manifestation other than price movement to illustrate his belief. While the manifestation of fibo ratios/series in a tree and a flower may be similar, one doesn't expect the growth of the flower to be as great as that of the tree. There is then something of a dichotomy between human activity v Natures Law, as interpreted by Elliott, that in attempting to provide a 'single theory' to describe, EWT comes up short, or perhaps, overstates reality. EWT fits into the DJI because the stocks in the index are weighted and owned in large quantities by many people, creating 'perfect' (?) balance EW/fibo price manifestation. I'm posting Tom Joseph's 'Advanced Get Mechanical Trading System' in the 'Trading Methods and Strategies' forum, which you may find helpful in trading with the EWT. Wallace.