Futures For You by Carley Garner
TOOLS, TOOLS, TOOLS
What are your thoughts on some of the geometrical technical analysis tools such as Fibonacci rulers, Elliott wave theory, and Gann fans?
Geometric charting tools, sometimes referred to as advanced charting tools, require active decision making by the user. This ambiguity creates an environment in which analysts can draw dramatically different conclusions despite using the same tools. More than with less interactive tools, such as computer-generated oscillators, these advanced charting tools are only as good as the trader using them.
In my opinion, these advanced tools are better at explaining what has already happened than predicting what might happen. But thatís true of all speculative tools.