Any theory which claims to be even somewhat predictive regarding the financial markets comes under fire from parts of the investment community. This is not at all strange, and is in fact beneficial for the users of any criticized theory as long as that theory does in fact offer an edge of some kind.
In any discussion of the credibility and validity of the Elliott Wave Theory – we get to hear about how 1) “EWTÂ doesn’t work”, 2) “isn’t built on a sound basis and/or premises”, 3) “EWT is just a story” or “curve fitting”.
