Goodday to you all,
I´ve started the school of Pipsology around 6 weeks ago. I´m using a demo account to learn trading, and appart from the revenge trading and weak entry points, I think a lot of things are going great. I´ve just learned about the Elliot Wave theory and I´m really digging it. Now there are few question I have about this.
Can the Elliot Wave theory also be used to predict where the market will go next, or is it recommended to only use it to confirm the past? If so, how can I determine on how high a retrace wave will be. For example how much Wave 2 and 4 will retrace, and what are the right tools to determine this?
Below I will share you my EUR/USD chart.
Cheers!
