Physical confirmation can be obtained from trend channels or by using parabolic trailing stops. Even during these easily predictable patterns, you still have to wait for physical confirmation from the markets. But wouldn't most people try to anticipate the waves?Ī Confirmation of a trade is very important. QYour system would therefore require you to wait for confirmation of a signal before you take a trade.
In other words, if you focus only on this portion of the Elliott wave analysis that is crystal clear, then it is perhaps the best system out there. During the formation of these patterns, 90 out of 100 Elliott Wave experts will agree with the count. However there are certain sections of the Elliott wave patterns that can be identified easily. Q Since Elliott Wave is so subjective, have you ever thought of using other technical analysis theories or techniques?Ī 1 agree Elliott Wave is a very subjective form of analysis. The following interview with Tom Joseph explains more on how Elliott Wave theory and his system work.
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