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That
is very helpful I just got williams book last week and will move it up the
reading list based on your post. here is the chart you requested, but the
question I'm having trouble w/ based on the attached chart is how can you tell
if the normal elipise that is about to hit (or may have already hit) will stop
the advance or after a small pullback it will rally on to the LT elipise and
actually that is the place I made my mistake by thinking that the ST elipise
would hold it. I also notice that the PTI has increase to 34. thks again for the
detailed info from williams I am aready looking at it. Also wave c = wave a @
1071
<SPAN
class=460325116-03102001>
based
on the bar count which on the 120 min is 161 I am also including the 180 which
has 120 bars. So if I follow this method when looking for the end of wave
4 find a time pd chart that has btw 100 and 140 bars btw the start of w1 and the
end of w3 then focus on the 5/35 (which is still in control on the attached
chart) but then whats the trigger to know which elipise will hold or do you just
need to wait for the LT to hit.
<SPAN
class=460325116-03102001>
thanks
again for your insight
<FONT face=Tahoma
size=2>-----Original Message-----From: Don Ewers
[mailto:dbewers@xxxxxxxxxxxxx]Sent: Wednesday, October 03, 2001
12:36 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
SPC 120minLee,I picked up on it from a Bill
Williams book called "Trading Chaos" in theChapter 7 section for EW counts
page 102 & page 124 (in the chapter he doesgive Tom Joseph of AGET
credit for the 5/35, but Williams actually uses a5/34 MACD
oscillator). He discusses the need to look at time frames whereyou
have at least 100 to 140 bars for the oscillator to work right
(actuallypages 102 to 166 should be read and thoroughly
understood).The statement made is: "Our research indicates that,
for the most accuratemeasurement, the wave under consideration should
occupy from 100 to 140bars. If we are looking at a wave sequence of fewer
than 100 bars, the MACDwill be measuring the Elliott wave of a larger
degree. If the wave sequenceoccupies more than 140 bars, the MACD
will be measuriung an Elliot wave of asmaller degree".What it did
for me is help indentify whether the chart I was looking at wasof the
right 'time" frame if I planned on using the 5/35 to find wave 4. Healso
makes the comment that using the technique (p126) will help most
peoplethat use EW counts from making the most commen mistake, namely
counting wave3 inside of wave 3 as the end of wave 3 and then counting
wave 5 of wave 3as a larger degree wave 5. This would be similar to the
question you posedto me on your OEX post, namely is this wave 4 or just
minor 4 of wave 3. Tofigure the answer out correctly the right time frame
chart has to be lookedat.I see the 1065.92 Cash S&P high was
just hit, hmmm that is pretty close tothe 1066.38 50% retracement W2 to W3
on the 60min chart.Can you take the TJ web off the 120min chart and
put fib retracements (.382,.50,.618, .786) from the wave 2 to the w3? and
ellipse (short normal, long)on also w2 to w3.don ewers-----
Original Message -----From: "Lee Morris" <LMorris@xxxxxxxxxx>To:
<realtraders@xxxxxxxxxxxxxxx>Sent: Wednesday, October 03, 2001 10:27
AMSubject: RE: [RT] SPC 120min> the use of the # of bars is
interesting can you expand on the thoughts of> how the # of bars needed
is determined and what "triggers you to move from> one chart to another
based on bar count. here is the 120 min on the snp w/a> pti of
30> -----Original Message-----> From:
Don Ewers [mailto:dbewers@xxxxxxxxxxxxx]> Sent: Wednesday,
October 03, 2001 10:56 AM> To: Real
Traders> Subject: [RT] SPC
120min>>> Lee,> My AGET is
EOD and as such limited to 60min, daily, weekly and
monthly.>> Can you post a 120min chart of the SP
cash with a 5/35 oscillator w/1.4> and> 10/70
oscillator w/1.4. Use whatever count the oscillator tell you? I
am> interested in the PTI?> don
ewers>>>
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Attachment:
Description: "10-3snp180.GIF"
Attachment:
Description: "10-3snp120b.GIF"
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