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RE: STEEM-BTC: Next wave down ahead?
Oh wow, that is a complicated theory. Sounds like it has many different interpretations! Ok, Thanks you I will read up on prechter. haha I wouldn't want you to summarized a whole book in just one post anyway!
Oh wow, ok thanks for explaining that so well. So the Elliot waves is more for long term trading, right? It sounds like the elliot wave patterns really only become clear after a long period of time. Thanks again, for explaining that in your perspective I will read up on it more now.
Elliott Waves works in every timeframe, from short-term Tick-Charts till Charts over decades, as long the analysed market
You can trade with Elliott Wave also intraday short market movements, but you need the patience to wait for your setups.
And due to the complexness of the Rules, most of the Elliott Wave fans (me included) do not have the full ruleset in mind and make errors. That's why different interpretations are possible.
Glenn Neely from NEoWave added around 20 years ago additional rules to the Elliott rule set. https://www.amazon.de/Mastering-Elliott-Wave-Presenting-Forecasting/dp/0930233441/ref=sr_1_1?ie=UTF8&qid=1481285334&sr=8-1&keywords=Glenn+Neely