Customer Reviews

The New Elliott Wave Rule - Achieve Definitive Wave Counts

5 star:		(2)
4 star:		(0)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

If you are interested in Elliot Wave analysis, you owe it to yourself to read this book. The author claims to have discovered a relationship among the wave-subwaves which is universal and eliminates the need for lots of loopholes and guidelines found in regular elliot wave analysis (xyz, diagonal, triangles, extensions, and who knows what else).

The flip side which evaded me at first, is that now the rules are more loose. They must be if we are going to characterize and categorize all price action with just a few rules, those rules must be pretty loose. So the challenge will always be, how realtime can someone do this analysis. No trading system is any good if you can only apply it in hindsight. I believe this system does have potential for realtime trades and Tom has publicly made some calls on swing pivots, proving his wave counts are accurate.

Anyway checkout the book and Tom has forums to discuss further with other practitioners.

The author takes an often over analyzed and over complicated theory and makes sense of it. Definitely a must read for anyone who uses Elliot Wave Theory in their trading process. Well worth the price and time to read. Great book!