In-Depth Review: Elliott Wave Count Telegram Channel
- Anna Taimes
- Jun 13
- 3 min read
Channel Overview
Telegram Channel Link - https://t.me/elliottwavecount
Feature | Details |
Channel Name | Elliott Wave Count |
Launch Date | February 16, 2019 (Over 5 years in operation) |
Subscribers | 124,049 (Large, well-established following) |
Average Posts Per Day | 2-5 (Consistently active) |
Average Views Per Post | ~47,000 (High engagement, suggesting real audience) |
Social Media Presence | YouTube, Instagram, and a dedicated website |
Primary Markets | Gold & Forex (Major currency pairs) |
Trading Style | Swing & Position Trading (No scalping/day trading signals) |
Free Forecasts | 3-4 per week (Chart-based with Elliott Wave analysis) |
Win Rate (Backtested) | 31% (Based on 6 months of free signals) |
Average Trade Duration | 3-4 weeks (Extremely long-term) |
Transparency | No real person behind the channel; losses rarely updated |
Content & Analysis Style
The Elliott Wave Count channel features a key focus on technical analysis from the angle of applying Elliott Wave Theory, and it provides systematic gold and forex market predictions. The articles are typically supplemented with marked-up charts with clean markings for potential entry points, stop-loss levels, and positive take-profit levels.
Each forecast comes with a written explanation, where the number of waves and main support/resistance levels are detailed. The analysis is strictly on high timeframes (4H charts and above), which means the forecasts are for holding over long periods and not quick trades.
Performance & Reliability
Our 6-month backtest of the free predictions of the channel revealed a number of serious issues:
Low Win Rate (31%) – The very low winning percentage of close to 70% of trades losing is much lower than the tolerance of most traders.
Extremely Remote Take-Profit Areas – All other trades take weeks or even months to reach targets, making them worthless to traders seeking faster results.
No Trade Progress Reports – Lost positions are never resolved, creating a misleading record of performance. With trades taking so long to come in, followers will have forgotten broken setups, and the channel cannot be held responsible.
No Intraday or Scalping Signals – Missing intraday or scalping signals makes day traders and prop firm traders a zero value from this channel.
Main Weaknesses & Who Shouldn't Utilize This Channel
1. Not Effective for Day Traders
Scalpers & day traders will be left with no usable setups since all analysis is performed on 4H+ timeframes.
Prop firm traders are unable to use these forecasts because most firms require trades to close out in days, not weeks.
2. Misleading Performance Measurement
The long trade durations allow losing positions to be lost in the rearview mirror, so perceived reliability is artificially high.
Lack of follow-through on forecasts means that traders never get closure on whether they were correct or not.
3. Low Win Percentage Makes It Unsafe for Swing Traders
Even with patient swing traders, a 31% winning percentage is a liability. Most good traders aim for a minimum of 50-60% accuracy.
The big stop-losses mean that when trades fail, losses are enormous.
Paid Services & Transparency Issues
There are premium services offered on the channel, but no VIP bot or proven track record, so it is difficult to measure their paid signals/forecasts performance. Also, the anonymous nature of the channel (no one behind it) reduces the level of trust compared to analysts who openly support their calls.
✅ Who Can Still Benefit from This Channel?
Long-term investors who use Elliott Wave Theory as part of a broader strategy.
Very low time-sensitive swing traders (holding trades for weeks).
Market analysts looking to add in a view from another set of markets (but not overt trade recommendations).
Last Word & Recommendation
5/10 TRUST SCORE
✔ Elegant channel with good presentation (No VIP scammy spam).
✔ Usefulness for ultra-patient swing traders
❌ Day traders, scalpers, and prop firm traders will not find it useful
❌ Low win rate & hidden losses lower reliance
⚠ Use with caution—there are more suitable options
If you're an Elliott Wave Theory-savvy long-term position trader, you may be able to dig some value out of it. But for prop firm soap operas, active traders seeking high-accuracy signals, or those who want high-accuracy signals, this channel's not a worthwhile investment. Instead, go to the more active analysts with good short-to-medium-term track records.
