elliottwave.com Review

About 24 years ago I was a subscriber to this site, I lost a lot of money when they mistook the Asian financial crisis of the time as a 1929 style crash.

I subscribed again to see what they had to say, since I saw a lot of bearish divergences in late Feb/Early May. Well they are still saying the same thing, and still making the same stupid mistakes.

Elliott Waves are good to know about, but they must be used with conventional TA tools, in particular momentum tools like RSI / MFI / MACD and so on. You cannot say this is the count, when the pattern may change.

EWI seems to be trying to just use Elliott waves, and nothing else. This is a formulae for disaster as they are very often wrong with their own internal bearish bias. They only mention other TA when it confirms their count, and will be silent when it doesn't.

They are saying that the market is going to crash when the advancers outnumber decliners by 2-3:1, RSI divergence shows upwards moves, and advancing volume is 75%. They are seemingly incapable of changing their view until there's a big loss on the table.

I will give some credit. They are good at calling a top. You just don't know if it's a 0.2% decline kind of top or a 20% decline kind of top. The only use here is, if this guy says 'were about to hit a 5 of a 5 of a 5 market top' you might want to take note and be a little careful, look for other signals, but I would dismiss *everything* else they have to say.

Swift and swift their view and their suggestions are always in the wrong direction. They can't guide you to evade heavy loss and always say that it is the bottom, but in fact there are more lower bottoms !

I have been using the service for the past three months to supplement my strategies (timing is purely coincidental with the current situation around the pandemic). I have read all the reviews here. I will add that I am fairly advanced technical trader and have been trading for over 10 years (this is important as it normalizes the overall knowledge about Elliot Waves and trading in general. 1) EWI was accurate in identifying the onset of bear market and was useful and were decent through the bottom reached in March before the countertrend started 2) Since then the recommendations would have lost one lot of money if were followed verbatim 3) They have changed the counts in the countertrend rally too many times during the countertrend rally to make one profitable (actually would have lost someone lot of money signaling next day etc. major decline) 4) World of trading is unforgiving, either you are right or wrong (when wrong know when to get out); this is were EWI lacks - they rely on one strategy and are wrong too many times to be profitable - providing this many alternate counts when they are wrong can easily over time wipe ones account (even when scaling in), primary impulses / recommendations have to work vast majority of times; also alternates don’t materialize most of the time either and then they just post new counts and projections are introduced as if nothing just happened (let’s face it, vision is 20/20 in reverse once particular scenario plays out, am sure this call or that call will be cited as it was mentioned as right once the particular pattern plays out - that is great, but can’t make 10 other calls before the right one - as the saying goes even broken clock is right twice a day); there are too many folks showing how good they are showing patterns in reverse and are just terrible in trading and the only thing that are doing consistently is losing money 5) Truth be told, I want the service to work, they have potential to save one lot of time analyzing wave impulses and instill confidence). However, they have to hang their hat on something and go with it...switching all the time is opposite of confidence, especially when emptying ones account and quick). 6) At the end, to me, calls around this countertrend rally in 2020 will make or break this service for many existing subscribers (they say only Elliot Waves matter at the end...not Fed etc). If this market does not roll over as they are predicting and soon and at least re-tests lows, cancel and never look back (they are calling around 25k as the top for the countertrend rally, after modifying it couple of times from a lover level tops).

They gave 2 books and 2 courses as a bonus for sign up 3 months of trader class room and it states clearly those are free. However, after I cancelled subscription of the classroom service, they revoked my access to those bonus courses.

The sales page is intentionally deceptive. What should be informed is that the free courses only can be accessed during subscription.

The customer care is terrible.

My review is for elliott wave forecast services in general. I tried a service for one month that provides daily/weekly forecasts. For the entire month I did not get anything of benefit that either A) Helped my trading, or B) Provided a signal for a trade in which I entered the trade and it was profitable. Every time the wave forecast did not go according to plan, they simply redraw the waves. The waves are so subjective, the presenter in the live trading room would say "Well this could be A B C over here, or it can be here, or even it can be counted another way". There was one trade that they called long in the live trading room that I clearly saw was a top in the market with a bearish divergence on the RSI. So I didn't take the trade because to me it was clearly going to reverse as there was multiple confluences but the Elliott Wave group was calling for more high's because they trade strictly off the waves and do not take anything else into account even such simple technical charting techniques as long term structural support and resistance areas. Well, I was right in my analysis and the trade went south big time. Could have cost me a great deal of money following that and I feel bad for those in the service that did. I really wanted to believe Elliott Wave could help my trading in some way but it did not and that's my honest experience after putting it to the test for a whole month every single day. After taking this subscription, I actually no longer believe in Elliott Waves at all. In this difficult to navigate world of trading, you never know what is real and what is made up to make a profit for seller of the system. Too many people are getting rich off selling systems and not actual trading. The people who provide the Elliott Wave service do not even show their own accounts are profitable. They do not show any trading statements, or even the fact that they take these trades in a live account themselves. If the system was profitable I don't see any reason whatsoever not to show a live statement. It's just nonsense.

Holly cow...they are WRONG 99% of the time IN EVERYTHING...forex...US equities...cryptos!!!!! I have lost 100's of thousands of dollars listening to them. RUN, don't walk. I've even thought about doing the EXACT OPPOSITE of what they say. That's the only use they could be. If your count lines up with theirs, you are wrong.

I've been a currency pro service subscriber for about 6 months now. I started with the intraday to test it out, as I was very skeptical (as anyone who is reading this likely is as well). I've come to value their market analysis and expanded my subscription to include daily, and the Elliott Wave Theorist and Trader's Classroom.

If you a looking for trade recommendations...this is not your service. It looks like there are some people who have taken their analysis and blindly traded from it. That is not how I have found any value or success with EWI.

For anyone looking to subscribe to EWI, I would suggest first getting a basic understanding of the Elliott Wave Principle. Once you do, you will understand that their are preferred counts, and alternate counts. It is not fool proof as the markets rarely behave how we like.

Once you have a good understanding of the Elliott Wave Principle, then I believe the pro service will be of help to your trading. Even then, this is not a golden ticket for success...you have to know how to trade. If you do not know how to make proper entries, exits, and stop losses, you will lose money no matter what system you use.

I have found EWI's currency pro services very helpful in my own analysis. I use it to confirm my own analysis. With that confirmation, I have a higher success rate with my trading.

You must know the basics of trading (entries, stop losses, exits...risk management) and the Elliott Wave Principle, before this can be of value.

EWI's pro services has become a primary resource in my trading. The more I learn and understand the Elliott Wave Principle with the help of EWI, the more profitable I become.

I subscribe to Pro Service this month. I realize that these are difficult times on the stock exchange, Therefore I decided to trust professional help.It was a big mistake, extremely incorrect and misleading analysis. I lost on the stock a lot more than 190 dollars I paid for Pro Service subscribe, I would never trust their analysis again

Absolutely TERRIBLE. I have lost MANY 10's of thousands of dollars. AND...missed out on several years of long trades due to their absolute bearishness outlook. I am even starting to REALLY question the Elliott Wave theory itself. The only thing I can say....I am glad I got rid of their $200/mo Specialty service a year ago...saving $2400. I figured out that I am just as good at guessing the wave count/structure as them. Run away...it will save you money.

Elliot Wave International are a good source to learn the principle, but beware. Do not take them for granted because what you will find is that they swear by the theory and almost ignore all other tools available. They will even tell you to completely ignore the news. Now be smart. The news actually are drawing the Elliot wave patterns so always keep an eye on the news. The principle does work but the problem is in real time every wave can get an extension within an extension and combine and become complex. So if you use the theory use it with other tools also and that way it can be quite an enhancement. But ignoring everything else is madness.