Last weekend I reviewed a service called elliott wave analysis at Popular Culture and the Stock Market, some of my blog readers joined the free EWI club and downloaded the free report. As a result, elliott wave international sent me a book elliott wave principle, key to market behavior and a pen with club logo on, thank you.
So this weekend I'm gonna talk few more words about Elliott Wave Analysis, what is elliott wave principle then? as described on wikipedia, "it is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific wave patterns in price movements." Therefore it is a type of investment discipline combining technical analysis with behavioral finance that attempts to explain and predict the market trend (of stock, forex, etc.). Unlike those quantitative techniques we often hear or apply, Elliott Wave Analysis assumes it is unnecessary to be based on past price charts to decide where a market is in its wave patten, which is instead decided by investors' psychology, therefore Elliott Wave Analysis has got criticism, for example, quantitative researchers tend to blame it is just an art where the subjective judgement is more crucial than the objective, replicable verdict of the numbers.
Anyway, it is not bad at all to know the non-quantitative trading world, if you are interested, I recommend you to watch the following video "How to Use Elliott Wave Analysis to Boost Your Forex Trading" and attend the free courses then.
Watch this full $79 course, FREE. Click Here!
Or watch this classic video from Elliott Wave International's Chief Currency Strategist, Jim Martens, to see how useful the basics of Elliott wave analysis can be. Jim explains how the same basic pattern that R.N. Elliott discovered back in the 1930s is often all you need to make informed market forecasts. Then access Jim Marten's intraday and end-of-day Forex forecasts, completely free from Elliott Wave International. Get your free Forex forecasts.
I noticed you didn't actually comment on the content or possiable plausability of the method. I would love to hear your take on the matter.