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Lee,
I am not sure if the 100 to 140 is from the start of wave 1 to wave 3 or
also into the wave 4 count? I am not sure he is all that clear on that.
I just start with wave 1 and count to the current bars (using the AGET tool
in the lower right corner) and like to see it near or in that 100 -140 bar
range. It is a good tool to use when analyzing internal wave counts of an
impulse wave (finding the minor 4) for yet another Type 2 trade.
Thanks for the charts, yes going to 180 would be correct in my mind.
Damm bought 2500 EMC this am on the open and traded it for a point at 12.72
now at 12.23 . . . ? A little panic buying or short covering?
don ewers
----- Original Message -----
From: "Lee Morris" <LMorris@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 03, 2001 12:23 PM
Subject: RE: [RT] SPC 120min
> 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
>
> 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.
>
> thanks again for your insight
> -----Original Message-----
> From: Don Ewers [mailto:dbewers@xxxxxxxxxxxxx]
> Sent: Wednesday, October 03, 2001 12:36 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] SPC 120min
>
>
> Lee,
> I picked up on it from a Bill Williams book called "Trading Chaos" in
the
> Chapter 7 section for EW counts page 102 & page 124 (in the chapter he
> does
> give Tom Joseph of AGET credit for the 5/35, but Williams actually uses
a
> 5/34 MACD oscillator). He discusses the need to look at time frames
where
> you have at least 100 to 140 bars for the oscillator to work right
> (actually
> pages 102 to 166 should be read and thoroughly understood).
>
> The statement made is: "Our research indicates that, for the most
> accurate
> measurement, the wave under consideration should occupy from 100 to 140
> bars. If we are looking at a wave sequence of fewer than 100 bars, the
> MACD
> will be measuring the Elliott wave of a larger degree. If the wave
> sequence
> occupies more than 140 bars, the MACD will be measuriung an Elliot wave
of
> a
> smaller degree".
>
> What it did for me is help indentify whether the chart I was looking at
> was
> of the right 'time" frame if I planned on using the 5/35 to find wave 4.
> He
> also makes the comment that using the technique (p126) will help most
> people
> that use EW counts from making the most commen mistake, namely counting
> wave
> 3 inside of wave 3 as the end of wave 3 and then counting wave 5 of wave
3
> as a larger degree wave 5. This would be similar to the question you
posed
> to me on your OEX post, namely is this wave 4 or just minor 4 of wave 3.
> To
> figure the answer out correctly the right time frame chart has to be
> looked
> at.
>
> I see the 1065.92 Cash S&P high was just hit, hmmm that is pretty close
to
> the 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 AM
> Subject: 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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