|
PureBytes Links
Trading Reference Links
|
Jann,
I have AGET and I am not aware of any instructions on how to analyze after 5
waves are in, whether a change in trend will be an ABC or a new 5 wave
sequence. Jumping out to the weekly might be your first clue.
For example if a 5 wave sequence was just completed on the daily chart, and
when you jump to a weekly it appears to be the completion of wave 3, then it
would be logical for the correct (wave 4 weekly) would be and ABC that on
the daily will start out as a 1-2-3 structure and later relabel into a big
ABC as a new five wave sequence starts in the direction of the original
trend. For that reason the weekly charts can be very important.
As far as using the 5/17 the original concept was to use it to see the break
down of the internal count on an "extended" 5th wave (where the wave 5 5/35
oscillator exceeds the height of wave 3) however I believe they have moved
away from that (meaning if the wave 5 oscillator in wave 5 is bigger than
the wave 3, it is the real wave 3 not the former one) frequently when that
happens, checking the weekly will reveal what is really going on.
They believe they currently recommend just using the 5/17 now for shorter
time frames now (and localized counts which are also shorter time frames) to
see the elliott count or internal minor count of an impulse wave, which
makes more sense to me.
As far as ABC's and the 5/35 you would expect to see some divergence from
wave A to wave C see attached gif's as an example.
BobR great job on your EW and Oscillator summary, you are a fast learner. I
hope you have found some use for these three oscillators (5/17, 5/35, 10/70)
in determining where things are in the "grand scheme of things".
don ewers
----- Original Message -----
From: "Jan Philipp" <jan4123@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 26, 2001 7:31 PM
Subject: Re: [RT] Gen - EWosc suggestions
I wondered if one can use the osc trying to decide if the move which
followed when 5 waves are completed, was trend reversal with W.1, W.2 & W.3
or it is ABC correction after which a new set of 5 waves is to be expected.
That is, apart from other wave count rules which govern this subject like
size
and time of retracement, etc.
Jan Philipp
----- Original Message -----
From: Clyde Lee
To: realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, August 26, 2001 11:59 AM
Subject: Re: [RT] Gen - EWosc suggestions
Just pulled out the manual.
Oscillator breakout above breakout band identifies W3.
After breakout, a pullback under breakout band to a point
at least 90% of W3 peak or zero will identify W4.
After pullback, a breakout over band is likely leading to
a W5 top. Oscillator at W5 top should be less than at
W4 top. Too much of a pullback and W3 is probably invalid.
Quite a few other things also discussed and in particular
how this should be used with other indicators.
Clyde
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: clydelee@xxxxxxxxxxxx
7910 Westglen, Suite 105 Office: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
Details at: www.theswingmachine.com
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
----- Original Message -----
From: BobR
To: realtraders@xxxxxxxxxxxxxxx ; MedianLine@xxxxxxxxxxxxxxx
Sent: Sunday, August 26, 2001 13:05
Subject: Re: [RT] Gen - EWosc suggestions
It would be best if someone familiar with AGet and that oscillator
answered
the question. I would suspect there are rules but I haven't run into
them
yet. Maybe we will have to create them. The question is an excellent
one
and I will look for an answer as I work through the manuals and tapes.
The
video tape examples of the use of the oscillator so far have been in
wave 3
and retracements in wave 4.
bob
----- Original Message -----
From: "Jan Philipp" <jan4123@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>; <MedianLine@xxxxxxxxxxxxxxx>
Sent: Sunday, August 26, 2001 10:53 AM
Subject: Re: [RT] Gen - EWosc suggestions
> Bob,
>
> Are there rules for the use of 5/17 & 5/35 osc for ABC corrections
e.g.
> similar to
> those for impulse waves W.3 & W.5 (divergence, etc.) ?
>
> Jan Philipp
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>; <MedianLine@xxxxxxxxxxxxxxx>
> Sent: Saturday, August 25, 2001 3:31 PM
> Subject: [RT] Gen - EWosc suggestions
>
>
> > Here are some suggestions to consider on use of the EWosc posted
> yesterday.
> > Other input is welcome.
> >
> > 1.
> > Use the (H+L)/2 input when price levels in the data set are in the
same
> > ballpark as in intraday data, and use Log((H+L)/2) when they are in
> > different ballparks such as on daily or weekly or monthly charts
when
the
> > data set goes back years and decades.
> > 2.
> > Set the K input to 0.8 for "80%" bands. The default is 1.0 or
"100%"
and
> > you may want to leave it there too for different instruments. The
bands
> are
> > considered strength or breakout bands. Lower levels trigger earlier
> > breakouts.
> > 3.
> > Insert the EWosc 3 times and use 3 different length inputs. These
lengths
> > were for 60 minute bars and day bars, but may also apply to shorter
> > intervals.
> > 5/17 for scalpers and little guys with tight stops
> > 5/35 for position traders of 1 to 2 days
> > 10/70 for commercials
> > 4.
> > Lay horizontal lines at the -1.4 level when the trend is up. Place
it
at
> > +1.4 when the trend is down. This line is the "shakeout" line for
the
> > little guys when the commercials are jerking price around for
positioning
> > like occurred on Friday. When the Little Guy is shaken out but the
> > Commercial Osc is still above the -1.4 and turns up and crosses zero
and
> > then crosses the upper breakout band like on Friday, well, you get
the
> > picture.
> > 5.
> > When the Commercial Osc is above the upper band, price is in wave 3.
You
> > want to be long in wave 3 and ride with the commercials as they are
in
> > control. Watch for divergences between price and the Oscillators
> indicating
> > the end of wave 3.
------------------------ Yahoo! Groups Sponsor ---------------------~-->
FREE COLLEGE MONEY
CLICK HERE to search
600,000 scholarships!
http://us.click.yahoo.com/zoU8wD/4m7CAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
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/
Attachment:
Description: "ABCexample2.gif"
Attachment:
Description: "ABCexample1.gif"
|