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Elliot Wave Theory: Myths & Fears

In this article we shall demystify 5 fears and myths of the Elliot Wave Theory.  The Elliott Wave Principle is a form of technical analysis that traders use to forecast market trends. It is observed that many people don’t understand the meaning of it and therefore, misinterpret it. They relate to it emotionally instead of practically, which is often in a negative approach. It is also known that some people state, the Elliott Wave “must be some type of cult”. But in actuality nobody has to shave the head or drink goat’s blood while humming ‘Hare Krishna’. In fact it takes very little to be an Elliott practitioner. However, the reason the theory is being criticized is: Read more