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--- In realtraders@xxxx, "Jbclem" <jbclem@xxxx> wrote:
> Looking at the one minute chart you posted, I'm curious as to how
you use the ADX in that time frame,
It works the same in any time frame: it tends to peak and make higher
highs in strong trends, and lower lows and lower highs in
corrections. As I said before it can be "fooled" by sharp corrective
patterns like "C" waves, but in context that can be a clue too. Like
anything, it takes time to figure out the quirks. There are other
ways to do similar stuff: ATR, volatility, etc.
>and how you got those two dashed lines to plot
> on the chart(or even what they represent?).
TS4 horizontal line tool drawn across the opening range.
>
> John
>
>
>
>
> ----- Original Message -----
> From: "tradewynne" <tradewynne@xxxx>
> To: "realtraders" <realtraders@xxxx>
> 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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> >
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> >
> >
> >
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> >
> >
>
>
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