Stocks & Commodities V. 25:9 (68-71): Product Review: Elwave 8 by David Penn

Stocks & Commodities V. 25:9 (68-71): Product Review: Elwave 8 by David Penn
Item# \V25\C09\181PENN.PDF
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Product Description

Product Review: Elwave 8 by David Penn

If you want to use Elliott wave analysis in your trading, then youíve got three main options. The first is to pick up a copy of A.J. Frostís and Robert Prechterís book, Elliott Wave Principle, and maybe the collected letters of R.N. Elliott, who invented Elliott wave theory. You could pick up a few copies of Prechterís other books while youíre at it, particularly The Wave Principle Of Human Social Behavior or At The Crest Of The Tidal Wave, both of which include a great deal of background geared to helping the budding Elliott wave theorist get his or her Elliott wave game on.

A second approach is, to be blunt, to let somebody else do it. Robert Prechter founded Elliott Wave International (EWI), in part, just for this reason. The basics of Elliott wave theory are not impossible to understand, but applying Elliott wave principles to price charts do not always behave as tidily as those idealized wave counts and cherry-picked examples would have us believe. Subscribing to an Elliott wave analysis service such as EWI is one way to have professional analysts do the analysis for you.




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