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John,
Quick question based on the details given in your explanation and your
comment re NDX soap/bubble Symwave:
Why does it matter if swings are measured from
- intraday highs to intraday lows, versus
- closing highs to closing lows?
Conceptually the waves measure % swings in both cases.
Reproducing relevant snippets of your emails below that confused me.
Thanks
Gitanshu
>From the NDX Soap/Bubble email:
a/ that Gitanshu's declines were based on a closing basis whereas SymWave
uses intraday highs and lows in its calculations. Therefore, please
disregard most of what I said yesterday
>From the explanation email:
b/ Note: When working with proportional markets, you can calculate declines
on a point basis but as a market moves outside its trading range (as in this
case), then calculate magnitude declines on a Percentage basis to more
appropriately measure price movement and investor behavior.
c/ SymWave differs from the Elliott Wave theory in that it organizes
SIMILAR-SIZE RETRACEMENT WAVES
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