Question of the Week: 6/27/2007
Why are the drawings of wave patterns in Mastering Elliott Wave so different from all other books on Elliott Wave?
A great question that I have no great answer to. The diagrams in MEW are representative of reality; most books on EW inexplicably display unrealistic examples of price action, giving the reader a false impression of real-world pattern development. This problem dates all the way back to R.N. Elliott's original works. Clearly, it is easier to show impulse patterns as one idealized formation rather than display three separate phenomenon (with at least two variations each). But, unfortunately, taking that diagrammatical short-cut does not help the beginner make the leap from student to practiioner.
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