|
PureBytes Links
Trading Reference Links
|
Notice how shallow the pullbacks are, which can be indicative of short
covering (same was true last night also after the low was put in)?
There is also that unfilled gap up at 841.50 which needs to be filled (oops
has been filled, now).
This is where things get interesting since we do have a clear ABC off the
lows. Is this wave a:4 in a larger pattern or is this it? Time wise not
enough has elapsed for a minor wave 4 (or even m.4:3) to normally be
complete (16 hours for the minor 4 and 11 hours for the 4:3 from yesterdays
low).
Might be a good one to apply some of the rules suggested in earlier posts on
the subject?
don ewers
----- Original Message -----
From: "tradewynne" <tradewynne@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, September 25, 2002 1:01 PM
Subject: [RT] Re: Elliott Wave question
> > 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,
> > >
> > >
> > > __________________________________________________
> > > Do you Yahoo!?
> > > New DSL Internet Access from SBC & Yahoo!
> > > http://sbc.yahoo.com
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >
> > >
> >
> >
> > --------------------------------------------------------------------
> --------
> > ----
> >
> >
> >
> >
> >
> >
> > --------------------------------------------------------------------
> --------
> > ----
>
>
>
> 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/
>
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Plan to Sell a Home?
http://us.click.yahoo.com/J2SnNA/y.lEAA/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/
|