Quote:
Originally Posted by rrram2
Not how I should, I never really took the time to learn them completely.
I sort of do an elliott wave in my mind when I am looking at charts.
And believe that legs up and down often equal out or cancel out and that the distance of up moves and down moves must equal. So I have high belief in elliott waves even though I dont use them. The theory seems very valid and can often predict reversal points.
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Excellent explanation of Jeb's charts Andrew, I had not thought of that "he draws multiple scenarios and lets price cancel the ones that are invalid..." (paraphrasing)
I've never been able to master Elliott either, but now with Jeb around I don't have to .. I just check his charts daily. This past 2 weeks has been a test, I was not sure he was going to be right as he repeatedly called for a bearish retraction to at least 209.50. But in the end he nailed it to the pip and made some great calls inbetween. The charts look daunting at first but are actually easy enough to read & Jeb gives his preferred scenario each day (although I find that prediction less valid than the charts themselves). If you combine Jeb's analysis with the knowledge (rrram) that Guppy
will go up whenever she possibly can, and add in Andrew's knowledge of IKH, we are starting to develop something predictive here....