Elliot wave is a mass psychology indicator more relevant to indexes and commodities. Large cap businesses, hmm maybe, but really you would need to establish that a trend or wave is in progress.
Small, even some large caps, would be and are too easily controlled by a few hence why they are never consistent or great for Elliot.
Remember it's a mass psychology indicator. You need a large exposure to the public and it's opinion ie 'the herd' to use it with any high probability.
Nothing in trading is accurate 100% of the time and Elliot is no exception.
Most who knock it are too lazy to put in the research and homework needed to effectively screen for good set-ups. Even then it's constant improvement in your analysis and getting consistent with what set-up you like looking for.
In the end use what works for you but to knock Elliot Wave is a little bit ignorant. It has been responsible for predicting and helping some of the greatest trades ever made.
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Open | High | Low | Value | Volume |
58.0¢ | 58.0¢ | 58.0¢ | $3.597K | 6.201K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 990 | 57.0¢ |
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Price($) | Vol. | No. |
---|---|---|
58.5¢ | 1660 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 990 | 0.570 |
1 | 1600 | 0.555 |
1 | 5000 | 0.550 |
1 | 2000 | 0.545 |
1 | 33358 | 0.540 |
Price($) | Vol. | No. |
---|---|---|
0.585 | 1660 | 1 |
0.590 | 5000 | 1 |
0.595 | 4916 | 1 |
0.600 | 4144 | 1 |
0.610 | 10000 | 1 |
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