Does Elliott Wave work ?

Hi Everybody

In my last post I asked the question – Does Elliott Wave work ?

Well here is another example that just unfolded this morning on a 3min Chart of the FTSE (for the European Traders among you). Notice how the high was right at our Typical Wave 5 WPT for the completion of a text book Wave 5 rally (as found by our Elliott Wave module). The Target was then the DP from the prior Wave 4 low. As you can see, this trade unfolded perfectly

The result was at a Profit of approx. +4.7R (ignoring slippage and commission) as the FTSE declined into the target.

So for me, when I see such text book example unfolding day after day, I have to say YES, Elliott wave does work – BUT only when used correctly and that is with my unique isolation approach……

Thanks, Steve
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Steve Griffiths
MTPredictor Ltd.
Website: www.mtpredictor.com