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

Wallace · 29-10-2003, 00:56

Hello Wavetrader, I use the fibo tool on 'every' wave to project Corrections/Retracements and new H/L price targets, and MetaStock's 'Standard Error Channel' as soon as 3 wave points are available to draw a channel.

I use Lucas numbers to count bars and waves rather than the fibo series. I'd like to be able to make better time projections, price is easy.

Never questioned Elliott's theory Wavetrader, so please explain your confusion in more detail, it'll be interesting to learn your thoughts about the basis of EWT's foundation. Wallace.

29-10-2003, 00:56	#8
Wallace level 3 Join Date: Jan 2003 Posts: 737 Downloads: 2 Uploads: 0 Rep Power: 0	Hello Wavetrader, I use the fibo tool on 'every' wave to project Corrections/Retracements and new H/L price targets, and MetaStock's 'Standard Error Channel' as soon as 3 wave points are available to draw a channel. I use Lucas numbers to count bars and waves rather than the fibo series. I'd like to be able to make better time projections, price is easy. Never questioned Elliott's theory Wavetrader, so please explain your confusion in more detail, it'll be interesting to learn your thoughts about the basis of EWT's foundation. Wallace.