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I would certainly agree on your statement:
"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 even larger ABC?"
Expansions are bitch are'nt they :-) but must be factored into the trading
strategy.
It may take more that one attempt and fading end of the C like you said can
be effective even if it expands (but profits need taken anticipating the
expansion with re-enter if it does not). Try looking for the minor wave 2
of wave C for an entry, fade the target, and look for the minor 2 of the
next move in the opposite direction with stop at the end of C. These tend
to be low risk trades.
don ewers
----- Original Message -----
From: "tradewynne" <tradewynne@xxxxxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, September 25, 2002 10:28 AM
Subject: [RT] Re: Elliott Wave question
> --- 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,
>
>
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