The VLE flipped back to Long today. It will go long on the open on Monday 4/21/08. The Tides remains in Neutral, and all other systems remain long.
I am a subscriber to a couple of elliott wave sites and also read some other free posts with elliott analysis. I must admit that I have spent a significant amount of time training myself to count waves, and I have become fairly adept at it. Oftentimes, I have seen the wave count that eventually revealed itself even when the professional sites did not present it. However, I can't say that it has helped me in trading to any great degree.
When you read a lot of advisory services including elliott wave sites, the analysts seem to be bi-polar - flipping from one view to another every other day, or staying with one view against the crowd for an extended period and then when there is finally no doubt that they are wrong they switch to the opposite view.
Please tell me how that is any different than the VLE System? At least with a price-based system there is no underlying bias that might keep the trader from taking the trade.
Elliott wave has its place and it is definitely valuable at certain times, but it should not be used in isolation. I think that the best use for Elliott wave analysis is to provide the trader with a framework for seeing market potentials beyond the standard pattern trading, but should be not used alone for trading. That is just an opinion.
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