Neo wave is the enhanced version of elliot wave giving much precise indications. Neo wave predicts the market by believing that mass psychology is governed by universal law and works in specific fasion, and the markets which runs freely on the basis of public (not influenced by any one personal identity) are also shows such kind of patterns.
What do you think about it, can such kind of thing exist and work in market?
What does this mean?
Prepare to be surprised when you learn how even a single market participant can drive markets to insane levels (either side) if they have to get their fills.
Mass psychology means psychology of people all around the world who are participating in market or have any kind of influence on it.
Now according to this theory, every human reacts in a specific manner to the market movements and the actions performed by people participating in market forms specific patterns.
By reading these patterns, current and next market movement can be identified.
This theory can tell where will be price in specific time of future.
This theory is not so popular and their are very few experts on this field, but they try to claim that they are making living by this theory alone.
However, one cannot trust this as blindly as it is said and arising of doubts is spontaneous.
sounds like a lot of marketing material.
Very true, but it is the occasion i think. Happens rarely. But yes, it not either supports or resists the theory i think.
If anyone believes in Technical Analysis, they should lose money.
That’s what i think of these waves & other nonsense.
But what’s the other way round from TA? If you are trading charts even with support resistance only, you are using TA…
and who says support & resistance works.
there are people who trade based on sun & moon cycles.
TA is nothing different than all TA nonsense.