Comment by santiagobasulto
6 years ago
Elliot Wave analysis is harmful, do not engage with it. I have friends that have lost a lot of money trying to follow it. It has 0 scientific background, it’s not more than astrology applied to finance. Please don’t spread these things, be responsible.
Do flocks of birds or schools of fish fly or swim in random directions? Or do they swarm together in discernible patterns? At core we share similar brain structures with them.
There's a gargantuan step to be made between saying "there are _some_ similarities between human and fish brains" to "the stock market behaves non-randomly like a school of fish". And an even bigger one to saying "The non-random patterns in the stock market can be divined with TA".