WaveBasis helps you maximize your alignment with market probabilities using the time-tested principles of Elliott Wave analysis and a collection of powerful and unique tools, including automatic wave counts. However, not all automatic wave counts should be considered automatic signals or predictions.
While it’s often the case, not every automatic wave count result will be ready to be traded immediately, and as they say, “sometimes the best trade is no trade”. Therefore, all wave counts should be carefully evaluated using the powerful tools provided by the platform before risking any capital. In addition, it’s particularly essential to make sure that you’ve considered meaningful wave count starting points. It’s best to consider each automatic wave count as giving you a big head start advantage for your continued analysis and decision-making.
Most importantly, one of the major benefits of Elliott Wave analysis itself is the ability to anticipate market movements and trade setups rather than chasing markets using signals, for example. This more focused approach allows you to plan a trade well in advance, which we refer to as “letting the market come to you”. You can learn more about this approach here:
WaveBasis helps you perform comprehensive Elliott Wave analysis in a fast and efficient manner. The platform allows you to understand and take advantage of statistical probabilities and so does not encourage guarantees. As you familiarize yourself with the platform, you’ll get better at refining your analysis to ensure you can consistently identify high-probability trade setups. It’s also critically important to first establish long term wave count context. You can see this demonstrated in this important video.
Although some of our traders have found some success using WaveBasis for trade signals, for best results, it’s important to understand that the information that the platform produces is not intended to be traded blindly as signals.
The information you see in the gadgets and Smart Tools is objective, probability-based information, and it’s also intended to help you learn and apply the Elliott Wave approach quickly and reliably. Therefore, it would be best to gain some expertise regarding various aspects of the Elliott Wave approach, such as gaining some understanding of the various patterns that comprise the approach.
If you’re looking to learn more about the rules that govern various patterns within Elliott Wave Theory, you can use the interactive wave guide. It shows you idealized diagrams of all of the standard Elliott Wave patterns, along with a list of the key rules and guidelines associated with each pattern.
WaveBasis is not intended to replace properly conducted Elliott Wave analysis; it is intended to make it much faster, easier, more precise, and more focused on probabilities. It does much of the work for you, but not all of it!