Elliot Wave Theory

The theory was named after Elliott himself, who concluded in his book "nature's law" that the movement of financial markets could be predicted by observing, and identifying a repetitive pattern of waves and patterns move to a scientific theory.

So Elliot claims to have found the underlying scientific theory of market movement, all you do is follow it and make money? WRONG.

Of course any scientific theory by definition is objective and works all the time - in Elliot wave there is no Objectivity - it's all left to the user to work it out! Well that's not scientific.

I am going to ignore the fact that Elliot made no money with his theory and simply say - his definition of scientific is different to most peoples and drawing a load of peaks and troughs in any time period you like, is not science and unlikely to make you long term profits.