I have been reading books on Elliott wave principle and trying to figure out how to apply what i learn onto the graphs. I am completely unsure about where to start the wave 1. I am pretty sure that i am missing something super basic here. So if you can help, that would be appreciated.
This question came in from a member of my mailing list the other day. Alas, I cannot help much in this case. While I have a basic working knowledge of Elliott Wave it is not something I use. Some people I know favor it and seem to do quite well with it, but the methodology was one which never clicked with me. It took me forever to get through the first chapter ofÂ Elliott Wave Principle, the book most folks consider the leading one on the subject, and that’s as far as I’ve gone.
Having said that, I did find some of the discussions about flags and other types of chart pattern formations very interesting.
If you’re a user of Elliott Wave and can offer up any suggestions on where folks could learn more about the technique, please feel free to do so via comment.