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Hi Don,
How would you go about identifying a wave 2 end in AGET ? Have you done
any work in this direction? Do the osciullator studies etc help any or
one has to be absolutely proficient in in EW to be able to recognise wave
2 entry points?
Rakesh
At 01:59 PM 7/11/02 -0500, you wrote:
Nick,
There is some real true to what you are
saying. In one of the "early" AGET trading tapes I have,
Tom Joseph (AGET originator), drew the waves just as you described,
basically he ignored waves 1 and 2 and really analyzed it as a three wave
affair. This may be because the recommended trades at that time
were, Type 1 after a wave 4 was over and Type 2 after a wave 5 was
over.
There is a reason though to pay attention to
wave 2's. From my experience, is that is the single best entry point due
to it's low risk and defineable stop. This is true for all wave
2's, albeit it a minor wave 2 of wave 1, a regular wave 2, minor wave 2's
of wave 3's and minor wave 2 of wave 5's. Basically trading the
pullback.
don ewers
----- Original Message -----
From: Nick Ali
To:
realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, July 11, 2002 12:23 PM
Subject: Re: [RT] Re: forecasting-track record
I have to say EW always seemed to have too many if this then thats. I found it confusing so have never really persued his techniques past basic theory. I recently read a book by Tony Plumber (I think) and it all made loads more sense. In a nutshell he pointed out that markets move in 3 wave cycles. If you join together two 3 wave movements (in the same direction) you get the 'classic' 5 wave with the 1 of the second cycle of waves joining the 3 of the first (its much much easier when drawn). It all becomes much easier when you are using the smallest 'building block' to make up your patterns.
Cheers,
Nick.
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