Some thouhts about the EW Theory used in my investingsPls. don’t let me be misunderstood – I don’t recommend you to be an Elliott Wave expert.
I for myself don't call me as an 100% expert, but I studied all the principles.
We have to consider that banksters use HFT Software based on EW and Fibonacci Retracements. And these banksters decide how long a wave may go – up or down to which retracement level. We as retail investors are able to realize the end of a wave normally some hours or even days later.
There is no other chance for us unless we have identified the actual up or down wave and are able to climb on the bandwagon and jump off timely. Therefor - and thats what I learned - our own knowledge of some principles in EW and FR is essential. This helps to a high degree to find the right time to buy or to sell a stock or bullion.
Would be nice and helpful to get some experiences from others on this board.
What does it mean for BHS?
We have to take out 0,27/0,29. After this the way is free to next resistances at 0,7- 0,9 - 1,75 - 2,25 - 2,5 till the ATH.