@dmedin, thank you for your comment. I feel that clarification is required. There are two ways of looking or using the Elliott Wave method. One is the strict official way of the Elliott Wave principle. It's a world of its own. The other is the simplified version of Bill Williams of Profitunity.com. He popularised the 5/34 macd or oscillator to count Elliott wave. I use this method. For me, Elliott Wave is a Subjective Indicator albeit very useful to those who can think in probabilities. And yes, if Elliott Wave is not for you, its ok. There are many other ways to extract profits from the markets.