I have changed the placing for Wave 5 as it broke upside the previously supposed turning point. The Wave 5 now positioned has also hit an important resistance level, I'm expecting a break of the lower trendline for Wave 2 formation, once the trendline break is in place we can then look for the possible targets for Wave 2 down.
Hello Neerav
Isn't " ... changing the placing for Wave 5 ... " a bit like curve fitting?
Review of many Elliott technicians work on this site and elsewhere, suggests they always need to change or extend, or they are not sure ... " either wave (C) or sub minuet 3 of 5 " ??? which also suggests they are not confident.
I do not understand Elliott or harmonics, although I am interested, but I do not believe it works, which is why I use classic Dow.
If you can just change something, after the fact, to make it work, that sort of supports my point.
I am not being critical just observing.
If you are trading May you have 9 days left for your short, then it rolls.
If you are on a CFD continuous, then I suppose it doesn't matter.
This is an observed comment and good luck with your Short.
Thank you, and
... just my 2c worth
NeeravYadav
⋅
@Oh_If_Only, don't take me wrong but it looks to me like you do not understand the general nature of markets as such, please go through the below listed points before any further discussion :
1. "if you can change something after the fact to make it work"
: Well what do you rather suggest to keep following a analysis even if the market proves you wrong.
2. I'm very offended by the words "making it work" : can't you see that I'm observing the market and refining my analysis.
3. Knowing and accepting the fact that the market can prove us wrong at any point is vitally important and that is why we put stop losses. Now as for the above analysis the market proved me wrong so I reanalyzed the market and posted my latest view. It's called going with the flow and not curve fitting.
4. Not sure about you but I haven't encountered any type of market analysis in which the analyst gives his/her view and then follows it for the rest of their lives, which is what you seem to suggest.
In my general observation I have found that people who don't have knowledge of Elliott Wave never really understand it's potential and always are full of doubts and negative beliefs.
Please note I have practical knowledge of many different trading systems and I still use Elliott Wave in my day to day analysis.
Oh_If_Only
⋅
@NeeravYadav,
Hello Neerav,
I did not mean to offend you, and if my comments read like that, then I apologise.
Perhaps I do not understand the general nature of markets, except markets are always right, and we the players, may not be.
I make a call, based upon my observations and knowledge. I am either right or wrong. I may call a price or a time or both. But I accept what the market says. Perhaps this may be a difference between our analyses.
I do not follow my analyses for the rest of my life, because the market has decided that for me, but I learn and do not shift. Next time, perhaps, I will have better knowledge and application.
Your own answer negates your own comments (refer " ... that people who don't have knowledge ...". So if it was pure, you would not need to defend it. In other words, you will be right regardless of how much it may cost you.
I am sorry, but I do not understand it, nor believe it. But I am pleased you do, and have that knowledge and belief, and I support you for that view, and wish you well.
I will not question or critique your view again.
Again, I did not mean to offend you or your view. I was merely making observation.
Kind Regards
Murray
Isn't " ... changing the placing for Wave 5 ... " a bit like curve fitting?
Review of many Elliott technicians work on this site and elsewhere, suggests they always need to change or extend, or they are not sure ... " either wave (C) or sub minuet 3 of 5 " ??? which also suggests they are not confident.
I do not understand Elliott or harmonics, although I am interested, but I do not believe it works, which is why I use classic Dow.
If you can just change something, after the fact, to make it work, that sort of supports my point.
I am not being critical just observing.
If you are trading May you have 9 days left for your short, then it rolls.
If you are on a CFD continuous, then I suppose it doesn't matter.
This is an observed comment and good luck with your Short.
Thank you, and
... just my 2c worth