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> Expansions are bitch are'nt they :-) but must be factored into the
trading strategy.
*I* never know exactly what's coming up next. From an EW perspective
it's hard to know in the begining of a move if it's a 1-2-3 (of five)
or an ABC. If it's impulsive it shouldn't overlap (much). So whichever
it is the "B" or the "2" starting points make sense for stops. Often
if you are in early that can be break even or better. In today's move
down off the open overlap of the bottom A or 1 was near 823, while
the top of B or 2 was near 828.50. If your short off the intitial
break that could be a point or so loss or even a small profit.
FWIW though, I suspect most hourly A-D systems are long (mine is
for the first time in while).
--- In realtraders@xxxx, "Don Ewers" <dbewers@xxxx> wrote:
> 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@xxxx>
> To: "realtraders" <realtraders@xxxx>
> 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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> >
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> >
> >
> >
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http://docs.yahoo.com/info/terms/
> >
> >
>
>
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