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Looking at the one minute chart you posted, I'm curious as to how you use
the ADX in that time frame, and how you got those two dashed lines to plot
on the chart(or even what they represent?).
John
----- Original Message -----
From: "tradewynne" <tradewynne@xxxxxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, September 25, 2002 8:28 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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