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Naim Abdullah wrote:
>
> Symmetry Wave analysis rests on a remarkably sound foundation: markets retracements often match in an ongoing trend. It organizes market action and is tremendously useful. However, it has the following problems:
>
> 1) It does not define a trend.
> 2) It ignores congestion areas.
> 3) Very little guidance is offered on exits (the concept of overextended wave structures doesn't appear to be as reliable as the other parts of the theory).
> 4) The matching criteria of retracements (+/- 20%) is arbitrary and not driven from market structure.
>
> I have seen occasional references (without any details) to "Accutrend", Michael Gur Dillon's followup work. Does anybody have any details or experience with Accutrend ?
>
> I learnt about SymWave Analysis due to John Boggio's excellent posts. Thanks John!!!
>
> Regards
>
> Naim Abdullah
> ABN AMRO Bank N.V.
> Pakistan
> Email: naim@xxxxxxxxxxxxxx
I purchased his video set about a year ago. It included a number
of
videos and a rather thick spiral bound book. The initial qualification
of waiting for 2 or 3 "downwaves" totaling a certain length before
looking for a reversal to go long did not seem very specific because
downwave doesn't seem strictly defined. However, the remaining rules
are very specific and include entries, stops, exits, and re-entries.
It's possible that the "downwave" is better described in one of the
first videos - I only watched the one with the Accutrend system itself
on it.
He shows an equity plot of a multimarket application of the method
which looks good. If this is accurate then the course is a darn good
value (I believe I paid ca. $300 for it).
As I write this I'm trying to remember why I didn't follow up on
it. I
think I felt it would be hard to program and rigorously test. You would
need to be able to find n-bar pivots and place orders at a certain
multiple of atr, etc. Now that I have Tradestation, I imagine it's
possible but not easy to program. Manually testing on charts would be
time consuming but not impossible.
If you're confortable with a relatively longterm system and like
it to
be "chart level" based instead of moving averages or indictors, I think
this is well worth looking into.
(No relationship with the system author or his co. other than
purchasing the videos; just my rather inexperienced opinion).
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