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--- In realtraders@xxxx, "RB" <rhodes@xxxx> wrote:
> Since we have had a few posts about elliott wave and markets. I
would like to ask a question.
>
> If you have a up move a have a clear 5 waves up then the market
starts down:
>
> 1. How can you tell if the down move is going to be an A,B,C
correction
You don't. There are several corrective patterns. A simple idea might
be to wait until after a corrective pattern unfolds and then fade it.
> or a 1,2,3, of a new 5 wave down trend?
> And how soon can one tell which it is?
> During the A or 1 wave?
> During the B or 2 wave?
> During the C or 3rd wave?
>
> Any indicators that tip the correct waves off?
I like the ADX. It tends to peak on impulses and bottom
on corrections, but sharp "C" waves will whip it up.
> I can see that in trading it may not matter which wave as long as
you are short during the down move.
>
> But I am sure there must be a simple way to tell what is going on,
:-) "It's simple, but it ain't easy."
>so one can be ready for the 4th and 5th waves down or the 1,2,3,4,5
waves up.
Like many things, sometimes it's clear, sometimes it's not. I don't
think the idea is to predict the next little "4th" wave up, but to be
short since a corrective rally, or a big part of one, ended @ SPX 965
and the pattern is still impulsive to the downside. IF there is
a "4th" up, and if the pattern is clear, then maybe that's a place to
sell some more.
>
> Any ideas?
>
> Thanks,
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