Hafidfx, according to the Pipsology section, Eliot Waves are “sometimes” connected with Fibonacci ratio.
I have a basic question before such technical part…
Which scale do we use the Eliot Wave for determination of the buy and sell times?
Pipsology article says Pivot lines are used for the day trading but my basic assumption is that will the Eliot Waves work in the shorter period like 15minutes as well as the 1 week scale? I saw the inverted mountain wave on the gold today and I noticed it after few hours from the formation and I did not purchase gold. I think it was in 4 hour scale. Will it be safe to make the entry by the 15 minutes scale if I see the particular winning Eliot Wave sign. Or will it be the common sense to buy at 4 hour or 1 day with such a scale? And will the line make the raise in the similar period always? I mean 4 hours scale to be created for the upward line in another 4 - 16 hours and such.