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| Discuss Traderji Help Needed at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Is it worth learning Elliotwave technicals. Does is it work on indian markets.thank you... |
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#1
17th August 2005, 09:31 AM
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Traderji Help Needed
Is it worth learning Elliotwave technicals. Does is it work on indian markets.thank you
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#2
17th August 2005, 02:26 PM
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Re: Traderji Help Needed
Quote:
As I do not use it extensively I cannot comment if it works on the Indian Markets. Maybe a member who uses it can comment on this.
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#3
20th August 2005, 11:10 AM
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Re: Traderji Help Needed
the wave theory works well in any markets. basically what i appeal to everyone is to see the chart as a chart. please don't confine technical analysis to only some asset classes. it applies to any asset class. remove the scale of the chart and see the chart. you can understand this. only required thing is flexibility of mind to accept to the failures of the moves. it is not the failure of the analyst nor of technical analysis. the move of the asset didn't follow the rhythm as predicted. then change your orientation and take steps accordingly.
ajay
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#4
4th February 2006, 07:58 AM
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Re: Traderji Help Needed
Yes Elliot Wave Theory works for Indian markets, provided you monitor over a period of time. As a matter of fact, you may be able to see it on intraday trades also. I see it more on the NSE Index rather than BSE. I do not know why. Can somebody explain this, or is it that the BSE is not a true representation???
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#6
4th February 2006, 12:30 PM
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Re: Traderji Help Needed
hi vneil,
elliottwave theory is portrayal of social mood of investors. It depicts the herd psychology,and therefore relevent for finacial markets. As far as indices are concerned it can be applied to any of them.The the constituents of an index the more relevent it becomes. That is why nifty shows better wave pattern than sensex as it is composed of 50 stocks while sensex of 30 stocks. This is the reason elliottwave practitioners nowadays like to track nse nifty . Same is true of US markets. Elliotticians track spx500 more closely than DOW index because spx has 500 constituents as compared to dow's 30. Regards, vinay
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