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ztrader you said:
"Or, you might just redraw the EW again? :-) It would also be
interesting to see the stats on how often EW's need to be redrawn in
real time, but that is another issue..."
>>>>>>>>>>>>>>>>>..
I would not disagree and actually it happens a lot (and particulary if you
use progressively lower and lower time frame charts on AGET-RT). For some
that is viewed as a major flaw in EW. I got over that long ago and learned
to "follow the trail" rather than get hung up on the fact that something had
changed :-)
If you think about it the counts literally have to change as you begin any 5
wave movement and as it expands. Wave 1 should have 5 waves, that eventally
flow into larger 5 wave patterns until the end of a move occurs. The key is
identifying the trend and where you are in it that at times, that can give
one an edge. Even if the count changes, you frequently are still on the
right side of the trade, you just need adjust profit targets and or stop
losses to fit the new pattern.
Recently I have begun to notice that there seems to be a fair amount of
similarity to various methods. One example I can think of is the Gartley
222 pattern off of a major top or bottom. If you looked at the early EW
count there, one would likely see a 1-2-3-4 with a very low PTI because the
retracement had gone between .618 and .786 (or more). Well a Gartley 222 is
just a wave 2, and off a top as the pattern makes a subsequent new low below
the prior wave 3 (or new high above the prior wave 3, if up), the count will
relabel to a new 1-2-3 (wave 2 becoming the old wave 4). So the count
changed but a very "understandable change" and repetious to other trading
setups? Ever heard of the ST3 that caused a flurry for a while back with
AGET and another individual, same thing just a different name.
don ewers
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