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since i first read the Frost/Prechter Elliott Wave book in 1980 i've worked with the
Fibonacci ratio - fibo/s - using the ms tool Fibonacci Retracement, bit of a misnomer
since i use it mostly for projecting price targets then Corrections/Retracements
in ms v10 they changed the tool to use the 3 point method which i don't like ?
perhaps i should say i prefer to use the 2 point method but as you'll see in the pdf
my way amounts to the 3 point method
personlly i never liked elwave, alphomega etc, i have an old advanced get that i do like
but don't use it for trading. software usually changes its count as the price progresses
so they aren't - understandably reliable, and as Tom Joseph and Robert Miner say, you
can only make use of EW 50% of the time, and Glenn Neely believes that by the time
you get in and out of the trade you'll make 12.5%
i don't mention EW in the pdf and don't often label my charts tho perhaps i should
since after nearly 30 years i often haven't a clue what the EW count is, but fibos are
reliable 100% time ? for me
just known as the 'Oscillator' in advanced get it's one of the tools Joseph uses to EW
trade, a full explanation of its use is here:
http://www.agetblog.com/tradingtechniques/2007/05/whos_in_control.html
ms code here: http://trader.online.pl/MSZ/e-w-Elliott_Oscillator.html
there's a manual EW method i found but never used, in Files: ACP System.zip
and my pdf 'Fibos 2' is also in Files
Wallace
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