Elliot Wave Basic: Part-6(Conclusion)

Conclusions:

Even though this article just scratches the surface of Elliott Wave Theory, chartists can greatly improve their counting by applying the three rules and three guidelines listed. Elliott Wave counts start with a process of elimination. Apply the rules for the first count attempt and then the guidelines on the second. Eliminating bogus counts paves the way to a more accurate count. Even with accurate counts, chartists will still need to re-evaluate and adjust counts as new price information emerges. It is just the nature of the beast.