EUR

very good catnip
excepted that the likelyhood of catching plenty of fish during rain is higher than catching during bad good weather.

Yes you need a kind of gut feeling as well. Howver I determined my most profitable trades so far all with the systems method and none had failed so far. For ex. I told a TA based trader not to short GBP
and went long GBP vs EUR and USD and I was right. And he was dead wrong. I just checked yield differentials and 2y 10 y and OIS and said GBP at least cannot fall. And it didn't. However the method won't work for scalping.

Sure there is always psychology involved. When you go out for fishing because the weather is fine instead of another day of trading there is psychology involved. But my approach is another my "theorem" says all markets are mutually dependent. Thus one cannot get a signal from a market that depends only on itself, but that is the approach of technical analysis and of EW. Thus I make a difference between a signal that is not from the market, and the market's response to the signal. This is of course psychological ( it cannot be otherwise ) only that I do not call it psychology I call it memory. Memory has the advantage that it has routines. That is one responds to signals automatically you don't think hey what the heck could that red light mean but you automatically slow down.
So briefly I use a system theory approach. Btw the legendary ole Doug Kass used around 10 variables
to determine whether buy or sell or hold some particular stock.

i use EW as a proactive tool looking forward bearing always in mind that i ahev to build different scenari and waiting a particle which is the signal. but EW as i see it is more proactive forecasting tool.
interesting analogy

for one you could look at todd gordons charts