Detailed Review of "Elliott Wave Strategy" Telegram Channel – Inherently Risky, Not Trustworthy
- Anna Taimes
- Aug 19
- 3 min read
The Elliott Wave Strategy Telegram channel has existed since April 3, 2021, and has gained more than 54,800 subscribers—a seemingly high number. Yet, upon closer inspection, there are severe problems with its trading signals, forecasting approach, and general transparency, rendering it a dubious tool for traders. What follows is a comprehensive overview of the channel's performance, trustworthiness, and possible risks.

Channel Overview
Telegram Channel Link - https://t.me/ewstrategy
Metric | Details |
Launch Date | April 3, 2021 |
Subscribers | 54,854 (large audience, likely real due to high engagement) |
Post Frequency | ~1 post per day (low activity) |
Average Views/Post | ~19,000 (indicating real, engaged followers) |
Free Forecasts | Yes, but only ~1 per day (inconsistent) |
Win Rate (6M Backtest) | 27% (extremely low accuracy) |
Trading Style | Elliott Wave analysis, 4H-8H timeframes (slow-moving setups) |
Markets Covered | Primarily Forex |
Trading Sessions | Mostly London & New York sessions |
Free Education? | ❌ No |
VIP Service? | ✅ Yes (but no automated bot, manual subscription) |
Real Face/Identity? | ❌ No (anonymous, no verifiable trader behind it) |
Critical Issues & Red Flags
1. Very Low Accuracy (27% Win Rate)
Our 6-month backtest of the free predictions from this channel revealed a shockingly low 27% win rate, with 73% of their signals resulting in losing trades. To put this in perspective, even a random trading guess typically hits around 50% accuracy—so this channel actually did worse than chance.
2. Impractical, Long-Term Setups (Weeks to Months to Trigger)
The channel's trading ideas suffer from three major flaws:
Entry areas tend to be too distant from current price, making traders wait weeks or even months for a possible setup.
No follow-ups—a forecast, once posted, is never revisited by the channel, leaving traders in the lurch.
Targets are unrealistically distant, half a year or more away—a thing most retail traders cannot sustain due to margin constraints.
3. No Risk Management (Without Stop Losses)
A signal service always includes stop-loss levels to protect traders from deep losses. However, this channel never provides stop losses, making followers vulnerable to unlimited downside potential.

4. Aggressive VIP Promotions Irrespective of Poor Free Forecasts.
The channel heavily promotes a paid VIP service, but its free forecasts are not reliable (27% win rate). This is concerning:
If free forecasts are that bad, how trustworthy are the paid ones?
No proven record of VIP performance is publicly disclosed.
No previous results disclosure or refund policy.
5. No True Identity or Record (Anonymous Operation)
The channel does not have a genuine name, face, or verifiable trading record, thus it is impossible to establish the credibility of its analysts. Credible signal or forecast providers are likely to offer:
Real names & backgrounds
MyFxBook or third-party verified results
Live trading proofs
This channel provides none of these, so it is risky.
Final Verdict: Avoid for Active Trading
While the Elliott Wave Strategy channel may occasionally provide analysis that would be useful for long-term swing traders or investors, its lack of even a modest success rate, unrealistic expectations for its trades, rare updates, and anonymous status make it a low-trust, high-risk trading signal source.
3/10 TRUST SCORE
Day traders and scalpers will find no utility in its contents, and even swing traders need to be cautious because of the total lack of risk management (no stop losses) and unverified accuracy.
Recommendation: Look for other channels with open track records, frequent updates, and realistic trading conditions—this one does not meet minimum credibility standards.