I have recently been on contract for Elliott Wave Forex to perform their EURUSD analysis while I find and train a new analyst for them. The continuing relationship between Elliott Wave Stock Market and Elliott Wave Forex is a good one.

On 6th June, 2013 I published an historical analysis of EURUSD for Elliott Wave Forex with four alternate wave counts at the monthly chart level. It was brought to my attention last week that Action Forex is using one of those charts in their emails for commercial purposes to promote their webinar.

Apart from a breach of intellectual property rights the biggest problem I have with their illegal use of the chart is their claim that it “proves” the target calculated at 0.96536.

The chart does no such thing. It makes a prediction, and a prediction does not prove anything. Logic 101 fail guys.

I object strenuously to anyone using my work to make a claim that I would never make.

Furthermore, their webinar is full of fluff and lacks substance, promoting a very expensive product with no evidence whatsoever that the product works or is worth any payment at all. I object to my work being associated with something like this as it may damage my reputation as a serious Elliott wave analyst.

Because Action Forex refuse to cease using this chart I would like to make a public statement that they do not have permission to use it, it is not their intellectual property to use, and I object to their use of this work. I do not want to be associated with what I think is a scam.

The email from Action Forex is produced below: