The market recently have been quite frustrating for EW analysts. The primary reason is because of combinations.
Let me explain: If there are 2 things that can kill an Elliott Waver anticipating a reversal, they're extensions and combinations. Especially frustrating are combinations due to the fact that they are corrective in nature and hard to anticipate a forming. Corrective waves are irregular enough on their own and having to deal with a series of them is sometimes soul-crashing when you are doing it on the right end of the chart.
Recounts are what usually discredits an Elliott Wave analyst for those uninitiated.
So here goes my 2nd recount of this piece. The idea is still short.
Let me explain: If there are 2 things that can kill an Elliott Waver anticipating a reversal, they're extensions and combinations. Especially frustrating are combinations due to the fact that they are corrective in nature and hard to anticipate a forming. Corrective waves are irregular enough on their own and having to deal with a series of them is sometimes soul-crashing when you are doing it on the right end of the chart.
Recounts are what usually discredits an Elliott Wave analyst for those uninitiated.
So here goes my 2nd recount of this piece. The idea is still short.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.