The basic model of the Elliott wave principle is how price moves not in a straight line but in a series of rises and retracements. Let’s take a look at Elliott Wave Theory and how we can use it to identify the best time possible to buy or sell. Statistics from stock and crypto market shows us that the majority of long-term holders will fail to identify the best sell price and will wait until they have lost about 75% of their initial investment to sell. They think that the price will go up forever, they don’t have time to wait, and that is why the majority of them will lose their investment even if they keep it for the long-term. Is it just that, prophesy, voodoo? Or whatever you want to call it? I say no. One of the reasons people do not believe in these theories is because they just want to get rich overnight. “Oh boy, here we go again, another self-fulfilling prophesy.”
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