Support Board
Date/Time: Sun, 16 Mar 2025 22:19:42 +0000
Post From: Sierra Chart - Elliot Wave?
| [2022-06-20 00:17:10] |
| BenjaminR - Posts: 172 |
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@User365411 There are some precise rules & the rest IS mathematical, based on Fibonacci relationships. There are odds based differences in likely projections; for example, a Wave 2 *might* retrace 38.2%, maybe 50%, most commonly 61.8%, sometimes deeper to 78.6%- & sometimes it will take out the origin, invalidating it as the beginning of an Impulse wave altogether. But there is a hierarchy of common projections & retracements, which form the various corrective waves or motive waves, & therefore indicate the next likely wave. But you seem to have to relegated it to being next to entirely subjective- but really, for the sake of a study which counts waves according to the rules & guidelines & fib relationships- it's not subjective at all. However, there often are a few ways to label waves on a particular chart, & still not break any of the rules- that is where individuality & interpretation comes into play. Using Stochastics is indeed 'theoretical', just as much as Elliott Wave. You have to know how to read things in context, or qualify the values using other indicators, patterns, or other methods. Lastly, nothing I said was wrong, it was entirely correct. Have a super awesome day yourself. Date Time Of Last Edit: 2022-06-20 15:07:10
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