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Hi Steve
GREAT review last night (Wednesday May 13)!
And I appreciate that you move the Elliott Wave reviews to the end of the review.
I don't follow the EWs, and sometimes fall asleep with their reviews.
So, when possible, I would appreciate if you could again, move the EWs reviews to the end of the daily reviews.
thanks
has it's place, why should it be moved to the back/end?....Maybe you could try learning it. Whats that dire straits song..."money for nothing...."
Use these charts as a quick reference or “cheat sheet” to getting started ‘reading’ Elliott Wave analysis.
First, a complete Elliott Wave pattern has 8 waves: 5 during the “impulse” phase and 3 during the “corrective” phase.
Elliott Wave is a fractal concept, so look closely at Wave (1) and Wave (2). The entire 8-wave structure that comprises the first and second wave is exactly the same as the complete 8-wave structure that completes the whole chart, which itself might be a larger Wave 1 and Wave 2 of a higher timeframe. It is important to understand that Elliott Wave is fractal. In an impulse (an uptrend, for simplicity), Waves 1, 3, and 5 will ’subdivide’ into their own smaller 5-wave affairs. Waves 2 and 4, which move against the larger trend, have a 3-wave structure. This is an expansion of “Charles Dow Theory” which states that uptrends (bull markets) move in three phases (accumulation, realization, distribution). Elliott only adds the natural corrective waves into these three phases. Mr. Dow also made note of fractal trends (Primary, Intermediate, Minor). In reality, Elliott Wave principles are just additions or specifications to Charles Dow Theory. Speaking of Corrections, here are the ‘ideal’ corrective phase types: There are actually 13 corrective patterns which are combination of these, but for simplicity, let’s focus on these four types of corrections. The notation in parenthesis refers to the number of smaller waves in the lettered phase (corrections always use letters). With the exception of a Triangle, Wave C will always have 5 waves. Without exception, Wave B will always have 3 waves. With the exception of a Zig-Zag (my favorite correction, which resembles a ‘bear flag’), Wave A will always have 3 waves.
Elliott Wave is a fractal concept, so look closely at Wave (1) and Wave (2). The entire 8-wave structure that comprises the first and second wave is exactly the same as the complete 8-wave structure that completes the whole chart, which itself might be a larger Wave 1 and Wave 2 of a higher timeframe. It is important to understand that Elliott Wave is fractal.
In an impulse (an uptrend, for simplicity), Waves 1, 3, and 5 will ’subdivide’ into their own smaller 5-wave affairs. Waves 2 and 4, which move against the larger trend, have a 3-wave structure. This is an expansion of “Charles Dow Theory” which states that uptrends (bull markets) move in three phases (accumulation, realization, distribution). Elliott only adds the natural corrective waves into these three phases. Mr. Dow also made note of fractal trends (Primary, Intermediate, Minor).
In reality, Elliott Wave principles are just additions or specifications to Charles Dow Theory.
Speaking of Corrections, here are the ‘ideal’ corrective phase types:
There are actually 13 corrective patterns which are combination of these, but for simplicity, let’s focus on these four types of corrections. The notation in parenthesis refers to the number of smaller waves in the lettered phase (corrections always use letters). With the exception of a Triangle, Wave C will always have 5 waves. Without exception, Wave B will always have 3 waves. With the exception of a Zig-Zag (my favorite correction, which resembles a ‘bear flag’), Wave A will always have 3 waves.
There are actually 13 corrective patterns which are combination of these, but for simplicity, let’s focus on these four types of corrections.
The notation in parenthesis refers to the number of smaller waves in the lettered phase (corrections always use letters). With the exception of a Triangle, Wave C will always have 5 waves. Without exception, Wave B will always have 3 waves. With the exception of a Zig-Zag (my favorite correction, which resembles a ‘bear flag’), Wave A will always have 3 waves.
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Move Elliott Waves reviews to end of reviews
Posted by ameritrader on 14th of May 2009 at 09:18 am
Hi Steve
GREAT review last night (Wednesday May 13)!
And I appreciate that you move the Elliott Wave reviews to the end of the review.
I don't follow the EWs, and sometimes fall asleep with their reviews.
So, when possible, I would appreciate if you could again, move the EWs reviews to the end of the daily reviews.
thanks
EW
Posted by ravun on 14th of May 2009 at 09:28 am
has it's place, why should it be moved to the back/end?....Maybe you could try learning it. Whats that dire straits song..."money for nothing...."
I will even point to somewhere u can start
Posted by ravun on 14th of May 2009 at 09:30 am
Use these charts as a quick reference or “cheat sheet” to getting started ‘reading’ Elliott Wave analysis.
First, a complete Elliott Wave pattern has 8 waves: 5 during the “impulse” phase and 3 during the “corrective” phase.
Elliott Wave is a fractal concept, so look closely at Wave (1) and Wave (2). The entire 8-wave structure that comprises the first and second wave is exactly the same as the complete 8-wave structure that completes the whole chart, which itself might be a larger Wave 1 and Wave 2 of a higher timeframe. It is important to understand that Elliott Wave is fractal.
In an impulse (an uptrend, for simplicity), Waves 1, 3, and 5 will ’subdivide’ into their own smaller 5-wave affairs. Waves 2 and 4, which move against the larger trend, have a 3-wave structure. This is an expansion of “Charles Dow Theory” which states that uptrends (bull markets) move in three phases (accumulation, realization, distribution). Elliott only adds the natural corrective waves into these three phases. Mr. Dow also made note of fractal trends (Primary, Intermediate, Minor).
In reality, Elliott Wave principles are just additions or specifications to Charles Dow Theory.
Speaking of Corrections, here are the ‘ideal’ corrective phase types:
There are actually 13 corrective patterns which are combination of these, but for simplicity, let’s focus on these four types of corrections.
The notation in parenthesis refers to the number of smaller waves in the lettered phase (corrections always use letters). With the exception of a Triangle, Wave C will always have 5 waves. Without exception, Wave B will always have 3 waves. With the exception of a Zig-Zag (my favorite correction, which resembles a ‘bear flag’), Wave A will always have 3 waves.