There is a lot of talking about Nicola and his Forex Trading package called Elliott Wave DNA. Is it real deal or not? From the name we can see that it is about Elliott Wave and that is very tricky most of the times. But let's analyze some of his free report called Dark Profit Numbers
I will just tell you that he analyzed a lot of history and gave some real statistic (a really nice approach) - this is what I noted from his secret about Elliott Wave counts:
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- When wave 1 forms and then pulls back, there is a 82% probability that wave 2 will pull back between 50% and 78.6% of the Fibonacci Retracements of wave 1.
- Wave 3 a 86% probability that it will extend between 127.2% and 261.8%, of the Fibonacci Extensions of wave 1, highest probability it will hit 161.8%.
- Wave 4 an 81% chance that it will retrace between 23.6% and 38.2% of the Fibonacci Retracements of wave 3.
- Wave 5 an 83% probability that it will extend between 127.2% and 161.8% of the Fibonacci Extensions of wave 4.
Elliott Wave traders know where the market is going to move next and this study shows that the market, after almost 100 years, is doing exactly the same thing over and over again.
This kind of research will tell you which levels need to watch out for over the next 3 to 6 months and beyond.
In Elliot Wave there are few phases - the first phase is called the Motive Phase. This is the part of the cycle that moves in the direction of the larger trend, usually labeled with numbers from 1 through 5.
The second phase is called the Corrective Phase. This part of the cycle represents pullbacks that happen in the market. Within the corrective phase we find just three waves; labeled with letters A, B, and C.
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It doesn’t matter what time frame you trade, Elliott Wave DNA could tell you what will happen next. And I know this by analyzing his way of providing statistics which works in Market. Elliott Waves have been profitable for almost 100 years and they will continue to be profitable for the next 100 year, because human emotion has not change, and will not change any time soon.
You can see that a scientific approach to trading, including research, can give you an advantage and more confidence when you trade.
I really advice you to check some of his tools he is offering free of charge and see if they are good for you. Only after that decide if you will take a look at his system or not.
And Yes - his secret is statistics analyses and experience trading Elliot profitable.
