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Clyde,
I have the definitive answer for you if you truly wish to discover which
Pivots to use. Here's your answer:
ALWAYS USE THE PATTERN TERMINATION POINT.
How do we find the pattern termination point?
BUY GLEN NEELY's "MASTERING ELLIOTT WAVE" and spend a few years
practising
And codifying what you can. Of course I doubt anyone on the planet
could do
It successfully, but people love challenges.
Adrian
> -----Original Message-----
> From: Clyde Lee [mailto:clydelee@xxxxxxxxxx]
> Sent: Thursday, 18 July 2002 1:58 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Why Fibonacci Numbers work and Number crunching
> - change directions
>
>
> Understand, this is not about FIBS, this is about PIVOTS.
>
> You have contended over and over that because the pivots that
> are picked by a stringent mathematical definition do not fit
> what you see as pivots that the study is faulty.
>
> You (and I guess most of the readers on this and several other
> lists) know that I am dedicated to the pivot determination
> METHOD that I have developed. I am not tied to any
> particular length for the pivot but at the present time when
> an analysis is done then the number of bars used to evaluate
> when a pivot occurs is fixed. It may be that that condition
> needs to be tied some way to market activity, I just do not know.
>
> What I want you to do is define for me the characteristics
> that you use in defining what constitutes a pivot that you would use.
>
> I don't care how complicated or simple these characteristics
> are, whatever they are I would like to program them in a
> pivot finding algorithm that could be of value to the entire
> trading community.
>
> In attempting something of this order I can assure you that
> the initial statement of the method will not contain all the
> elements that you use and that it will take a number of
> iterations to achieve the equivalent of what you establish
> for pivots by looking at a chart.
>
> On all of these studies that we have disagreed over you
> have had the benefit of hindsight in selecting the pivots
> that you thought were appropriate for measurement where the
> evaluation covered more than one pivot.
>
> My pivot selection method has NO insight into what may
> happen forward of the day/bar on which an evaluation is
> performed and consequently cannot identify a pivot until some
> period of time (variable) following the actual event that is
> the pivot.
>
> We all know that we must have some information forward
> of the pivot to be able to identify that pivot. I know that
> is a matter of fact and accept the "lag" inherent in the
> determination of pivots.
>
> I'm willing to put whatever time is needed into such a
> project since I think it will give me and many others a
> better understanding of why a "simple" method of picking
> pivots is invalid.
>
> Clyde
>
> - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> Clyde Lee Chairman/CEO (Home of SwingMachine)
> SYTECH Corporation email: clydelee@xxxxxxxxxxxx
> 7910 Westglen, Suite 105 Office: (713) 783-9540
> Houston, TX 77063 Fax: (713) 783-1092
> Details at: www.theswingmachine.com
> - - - - - - - - - - - - - - - - - - - - - - - - - - - -
>
> ----- Original Message -----
> From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, July 17, 2002 9:54 AM
> Subject: Re: [RT] Why Fibonacci Numbers work and Number
> crunching doesn't
>
>
> > Clyde,
> > Yes your use of a 21-bar, has mirrored the pivots off the top I that
> showed
> > in my gif, however in looking at your pivot selection going
> backwards
> > from there some questions arrise that I believe causes your
> "study" of
> > fib's in this case, to be flawed.
>
>
>
>
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