Neely argued that traditional teaching focuses on recognition (identifying what already happened) rather than anticipation (predicting what must happen next). He famously stated that if your wave count does not tell you exactly where to enter, stop, and target before the move happens, it is useless.
Disclaimer: Trading futures and forex involves substantial risk. The Neely method, like all technical analysis, does not guarantee profits. Past performance is not indicative of future results. Always use strict risk management. mastering elliott wave glenn neely link
You see a sharp rally, then a pullback, then another rally. You think: "That looks like an impulse." You buy, hoping for Wave 3. The market reverses and stops you out. The Neely method, like all technical analysis, does
While most instructors taught Elliott Wave as a series of shapes (e.g., "an impulse looks like this"), Neely realized that shapes are misleading. He discovered that the secret lies in —specific mechanical rules that dictate how waves must behave relative to one another. You see a sharp rally, then a pullback, then another rally