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Lee,
No way to tell on the ellipses which one will be the last one, so you should
add the 6/4 ma channels which is one way to "follow" the action.
With such a low PTI though, it as you know, falls outside of the
"recommended trade setups".
With that low of a PTI you may wabt to play a failed 5th should it set up.
My charts continue to say the lows are in, albeit a test should occur (some
sort of retracement).
don ewers
----- Original Message -----
From: "Lee Morris" <LMorris@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, October 25, 2001 12:37 PM
Subject: RE: [RT] SPC 120min
> don, just following thru on the prev discussion, attached is the daily snp
> w/ 106 bars from May high and the normal elip getting close, but the 10/70
> still has not pulled back enough. To me it looks like we still may have
more
> to the upside. I am still not sure how to tell if the advance should stop
at
> the normal or the LT elip. Also note you were right that the PTI has
> continued to drop
> -----Original Message-----
> From: Don Ewers [mailto:dbewers@xxxxxxxxxxxxx]
> Sent: Wednesday, October 03, 2001 1:47 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] SPC 120min
>
>
> 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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