There are certain times when one can be more confident about using wave analysis. One such time is when we are approaching the end of an extending 5th wave, or soon after we start coming off from an extended 5th wave. In my earlier post on the usefulness of wave analysis, I have shown you an example of how I was able to call a 25% down move using SNP500. Now, here is another example that has happened in recent weeks. The Australian dollar, or AUD, aud-9-oct-2008 has collapsed spectacularly. It was perfectly possible for a good wave analyst to predict this. As you follow this blog, over time you should pick up a lot of useful trading tips that will make you a much better trader. Using Elliott wave analysis, you will be able to time your trade with more confidence.
Do let me know your comments on these posts. Other readers would probably want to discuss with you your experiences via these comments as well. That will enhance your learning experience. Regards, Ramki