I’ve read some of your articles and I’ve noticed that you use technical analysis extensively. However, you don’t seem to use the Elliott Wave Principle. Why’s that? Don’t you think it’s useful?
The Elliott Wave Theory is a part of the technical analysis, and as such it is more of an art than of a science. Therefore, it is impossible to prove that it is either good or bad for any market. I have personally not found it particularly useful. When gold broke through the $400 level I remember many Elliott Wave analysts writing about imminent correction to the $200 area, which never happened. I understand that these wave patterns often do occur, but I found them easy to spot and reliable only in hindsight. Of course EW analysts have more experience in reading these waves and I don't claim to be an expert on that field.
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