Elliott Wave Guide
Nearly every student to technical analysis as heard of the Elliott Wave Theory and is probably fascinated by the concept. However, despite its popularity, Elliott Wave is also the least correctly understood theory of technical analysis. Too many traders have found the numerous rules behind Elliott Wave Theory to be overly complicated and subjective. For those who correctly understand the rules, Elliott Wave Theory has proven to be a reliable basis for interpreting and forecasting price action. For those who misinterpret the rules, incorrect forecasting will lead many to conclude the Elliott Wave Theory is obsolete. Nevertheless, many traders have used Elliott Wave Theory to successfully identify turning points in price action.
