Elliott Waves

FTMO Trader Scouting


Well-Known Member
What practical advice do you have for traders who wish to incorporate Elliott Waves into their trading?
Wyckoff is easier imho. Elliott Waves and Wyckoff are almost the same.

It helps you determine what is market doing. I use it indirectly sometimes to have a better view regarding if markets are accumulating or distributing or changing gears.

Said that, I do not use Wyckoff as a decision making model, it just gives me a bit more of insight.

The problem with both is that they are fractal and there are multiple programs at the same time so it is difficult to understand which one is the predomintant one. Therefore you always have reason to buy and sell if you really spot the EW and/or Wyckoff structures in price. You need additional layers to trade imo.

Besides, his work has been spoiled by scammers and popular culture, and it is being taught as retail chart patterns would be, while markets and wyckoff or EWs have nothing to do with retail chart patterns logic imho.
FTMO Trader Scouting