no..all those are computed from the cycle indicator, basically
what happens: as you know price many times ping pongs between the
support and resistance cycles almost to an uncanny degree - then
price eventually breaks through one of the cycles to signal a
breakdown or breakout wave 3- once you are in that, let's say
that it's an upside wave 3 move, you get a bullish pullback cycle,
then the next resistance cycle is end of bull cycle (wave 4) - it's
the indicator trying to show some sort of potential wave 5 - which
again is sometimes correct and sometimes not the end
here's a couple examples, the first shows a rally off support
cycle - then price breaking through resistance cycle -which as I
stated above the next pullback it labels as bullish pullback (wave
4 basically) then end of bull cycle - but on this one price
just breaks through that one too
the second one shows a downtrend - notice how price just
perfectly ping-pongs between those cycles - I love seeing that
because then when price finally breaks the cycle I know it's a
trending move in this case nice down move after breaking that cycle
support. Then price rallies and it displays bearish rally,
then pulls back and shows end of bear cycle - and price bounces off
it
again the cycle indicator is not perfect by any means, just like
any indicator - but it gives an Elliot Wave like analysis and it's
very useful when you see price perfectly responding to those cycles
because it confirms you are in a consolidation pattern - and once
it breaks the cycle - you know that the consolidation is over and
to expect a trending type of move- nice tool
Matt, your End of Bull
today is Demark 9 on daily QQQ
Posted by junkie on 17th of May 2023 at 09:59 am
Matt, your End of Bull trend indicator on QQQ charts is calculated on a single time frame, isn't it? Is the calculation separate from DeMark waves?
no..all those are computed from
Posted by matt on 17th of May 2023 at 10:10 am
no..all those are computed from the cycle indicator, basically what happens: as you know price many times ping pongs between the support and resistance cycles almost to an uncanny degree - then price eventually breaks through one of the cycles to signal a breakdown or breakout wave 3- once you are in that, let's say that it's an upside wave 3 move, you get a bullish pullback cycle, then the next resistance cycle is end of bull cycle (wave 4) - it's the indicator trying to show some sort of potential wave 5 - which again is sometimes correct and sometimes not the end
here's a couple examples, the first shows a rally off support cycle - then price breaking through resistance cycle -which as I stated above the next pullback it labels as bullish pullback (wave 4 basically) then end of bull cycle - but on this one price just breaks through that one too
the second one shows a downtrend - notice how price just perfectly ping-pongs between those cycles - I love seeing that because then when price finally breaks the cycle I know it's a trending move in this case nice down move after breaking that cycle support. Then price rallies and it displays bearish rally, then pulls back and shows end of bear cycle - and price bounces off it
again the cycle indicator is
Posted by matt on 17th of May 2023 at 10:12 am
again the cycle indicator is not perfect by any means, just like any indicator - but it gives an Elliot Wave like analysis and it's very useful when you see price perfectly responding to those cycles because it confirms you are in a consolidation pattern - and once it breaks the cycle - you know that the consolidation is over and to expect a trending type of move- nice tool
Matt, thank you! I am
Posted by junkie on 17th of May 2023 at 10:20 am
Matt, thank you! I am well familiar with the concept. Mine works on 3 different time frames, while yours is straightforward.