|
PureBytes Links
Trading Reference Links
|
--- In realtraders@xxxx, "tradewynne" <tradewynne@xxxx> wrote:
> --- 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.
Attached chart shows a 1 minute "abc" off the RTH Open.
> > 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.
You can see the ADX valley near the end of the little "abc."
> > But I am sure there must be a simple way to tell what is going on,
>
> :-) "It's simple, but it ain't easy."
As "simple" as an abc pattern might be you can get into a real can of worms
since Elliott patterns "work" on all degrees of scale. Is this an abc
in a larger ABC? What are the 5, 15, hourly, daily, weekly, yearly,
or "grand super cycle" counts? I like the idea of KISS and not worrying too
much about too many time frames.
> >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.
See 15 minute SPX attached.
>
> >
> > Any ideas?
> >
> > Thanks,
__________________________________________________
Do you Yahoo!?
New DSL Internet Access from SBC & Yahoo!
http://sbc.yahoo.com
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Sell a Home for Top $
http://us.click.yahoo.com/RrPZMC/jTmEAA/MVfIAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
ABCSPX92502.15min.gif
Attachment:
Description: ""
Attachment:
Description: "ABCESZ92502.gif"
|