morning all, the thing I like about this post is "P.S. I have no...

morning all,

the thing I like about this post is

"P.S. I have no idea of the reliability of the Elliott Wave Theory now that its all about bots & FA. A few years ago I would have said that this pattern works out 70% to 80% of the time - that may still be the deal, we will see."

me too

IMO - we just can't fall into the trap of slavishly thinking that TA has not changed as the tools in the market have changed.

Although I am certain that there is information and messages in looking at previous trading in a stock or commodity - I just don't think we can go by the old rules.

It would be like trying to judge how a hole was dug and why it was dug where it was dug - when the only knowledge we had was when people had sticks and bones to dig with - but, now we have excavators, explosives and jack hammers.

Although I have learnt the lesson time and time again - to make sure I not only take notice of a major trendline break but, to act on it - both a long time back and still to this day -

some of the tools that were, not bullet proof, but very reliable - just don't work much any more (or at all) in the present environment.

have a great day all

Pinto