Elliott Wave theory - why does it work?

[alsaidan]

First I would like to thank the administration of the forum for asking about me. Secondly, I use manual numbering of EW on charts. I would be greatful if somebody guided me to a link showing the application of RSI in EW, not to identify waves 3 and 5 but to predict the end of wave "C" during correction of wave 2 or 4.

Regards,

alsaidan

 

[uasish]

Eveready closed at 53.35 my 2nd Entry is now exactly Rs 10.00 deep in Profit.

 

[uasish]

Eveready (+) 3.37 % and spot Nifty (-) 2.90 points.

 

[uasish]

Eveready Jobbing now,covered here @ 52.00

 

[hindlevernet]

Hi Everybody, I have no doubt in my mind to say that ELLIOTT WAVE PRINCIPLE is ultimate tool in stock price analysis. Larger the time frame, greater the degree of its accuracy. with EWT, you can see months, in fact many years in advance. Dow Jones as you know is Index of the world's largest stock market. Its value today stands at about 12200. With my analysis, I found that this value may touch 35,500 by the year 2015/2016. similarly it can be applied to see the future of other markets also. I see NIFTY at about 17,000 sometime in the year 2011.
Above all it can be used to predict the peaks and bottoms. I condfidently predict that Nifty will sink below 3600 in the month of February. I had been predicting the on moneycontrol.com message board for the last two months. After market bottoms out in the range of 3500-3600, then it is bound to rise to about 7350 sometime next year. I will like to exchange views with you on this topic.

 

[behold]

to bvpraveeen ,

i am learning EW for about two year ,i had discover that it is master in giving the target but the only problem is that no one know what happen in future . so these fail at that point .

from jitendra