On a more abstract note, the iconic Elliott Wave 5-3 fractal pattern can be used on everything from price action to our lives as human beings, and everything humanity touches. Nothing goes up in a straight line and natural growth is always 3 steps forward, two steps back. Not to get woo-woo, but it's increasingly clear (at least to me) that the Elliott Wave pattern is deeply embedded in human psychology, affecting everything from who we are and how our lives unfold, to the things we touch and create.
While I'm 100% on board with Elliott Wave theory holding interpretative power, I'm not fully convinced in its predictive power, especially when the resolution gets down into the lower cycles (minor, minute, minuette, etc). At this level it seems our hard-wired pattern-seeking brains are simply trying to wring signal from noise, claiming meaning from randomness. I'm open to be convinced otherwise though.
To this day I'm still impressed with the accuracy of OP's earlier 2019 Cryptocurrency (Elliott Wave) thread. Masterful work. Glad to see the effort continues here. This thread is one of the handful of reasons I make it a point to visit this forum on a regular basis.
While I'm 100% on board with Elliott Wave theory holding interpretative power, I'm not fully convinced in its predictive power, especially when the resolution gets down into the lower cycles (minor, minute, minuette, etc). At this level it seems our hard-wired pattern-seeking brains are simply trying to wring signal from noise, claiming meaning from randomness. I'm open to be convinced otherwise though.
To this day I'm still impressed with the accuracy of OP's earlier 2019 Cryptocurrency (Elliott Wave) thread. Masterful work. Glad to see the effort continues here. This thread is one of the handful of reasons I make it a point to visit this forum on a regular basis.
An interesting video you may enjoy:
https://socionomics.net/2021/02/historys-hidden-engine-a-socionomics-documentary/
Thanks for that - I had no idea there was an actual field of study on this. Are you aware of any discussion forums or have any other resource recommendations for learning more?
It appears other than the original Elliott Wave theory, all material on socionomics is relatively recent so we probably can't expect a mainstream breakthrough for another decade or so (based off the observation that new science takes roughly 20 years to gain general acceptance). The sooner mainstream economics stops modeling humans as perfectly rational actors the better
