FAQ-8

Do you use any indicators to confirm your wave analysis or help you in trading?

It is remarkable that once I got proficient in the Harmonic Elliott Wave theory I naturally stopped using any indicators! Let me offer you why indicators will always be less efficient than wave analysis. 

If you go to China you basically have two options. You can hire an interpreter and hope that he or she will be making accurate translation for you. Another option is to learn Mandarin by yourself. If you learn the language you will be able to talk to locals without waiting for interpretation and without any distortion. If you learn the Harmonic Elliott Wave theory you will understand the language the price talks! 

You will not longer need RSI or MACD to interpret what price tries to tell you! People use RSI to spot divergence between price and indicator. But such signals may get you in trouble because they may show you divergence in the middle of relentless rally in wave 3. You may short it and will be watching price keep climbing higher without pullbacks. Divergence may work in wave 5 because it is always shorter than wave 3. But wave analysis lets you identify that final rally and even set high probability targets without checking any indicator. For me all the indicators are useless. They only consume precious space on my screen and distract my attention from what really matters, the price!

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