|
PureBytes Links
Trading Reference Links
|
Lenny,
I've been meaning to ask you about your use of the 38% (minimum) time
retracement for w.4's. I found a set of pages in the back of Miner's white
book (Trading Course which accompanies his DT software) which summarize his
guidelines. I transcribed the whole lot into the trading page in my PIM for
quick reference. Here is the summary for w.4:
Wave 4
Pattern
Complex correction (alternates with W.2)
Price
W.4:W.2 (App) 100%, 162%
W.4:W.3 (Ret) 38.2%, 50%, 62%
W.4:W1-3 (Ret) 24%, 38%, 50%, 62%, should not close into price zone of W.1
Time
W4:W2 (Atp) 100%, 162%
W4:W3 (TRet) 100%, 162% near confluence, often longer
W4:W1-3 (Atp) 100%, 162% near confluence, often longer
My general observation has been that his w.4 time retracement guidelines
tend to be a bit longer than what I see in my trading .. most typically I
see 62%-100% w.4:w.3. Have you seen these RM guidelines and how did you
arrive at the 38% minimum?
Earl
----- Original Message -----
From: <rosow@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, April 20, 2001 10:57 PM
Subject: Re: [RT] NASDAQ Rhythm
> In a message dated 4/20/2001 8:54:25 PM Eastern Daylight Time,
> proffittak@xxxxxxx writes:
>
>
> 3) As I have said in the past, Wave 4's should last at least as long as
38.2%
> in time of Wave 3. So the low on 04/04 should hold for at least (2)
months.
>
> 4) Once there is a turn down on the Weekly chart I would expect at least a
> 38.2% retracement of the then current move up and would get VERY nervous
if
> it retraced past 78.6% although the NASDAQ Wave 2'w has been typically
> retracing close to 100% of Wave 1's on the Impulsive side of the ledger.
>
> 5) My price clustering shows the area of 2866-2962 as a possible finish to
a
> wave 4 around the Week of 07/13/01.
>
> That's all for now.
>
> Lenny
>
>
>
----------------------------------------------------------------------------
----
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|