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Elliott Wave and ES
- Thread starter brad1970
- Start date
Quote from ramora:
Nice chart Plumber, what software are you using to draw it? What Gann software would you recommend?
Thank you, Mike
The charts are drawn with http://www.ensignsoftware.com/
and http://www.gannalyst.com/main.asp
but recommendation? Non of the above and all the above. Hand drawn charts is how I started and time taking transfer of those charts to a realtime screen like Esignal or Ensign. So it comes down to you applying the geometric principals. Like today, if you had done any statistical run through of the data for past Fridays ,I used 45 total days that included 10 Fridays, you would see the chart I saw that a high was probable in the morning and closing close to even. The Dunnigan for a higher high was probable from the prior day with an average of 4 swings.
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I am using Elliot Wave as a secondary method while trading the ES.. I find it particularly useful as another indicator, another green light if u will, that lets me know that i'm probably going to be right on a certain trade.
However, I have found it very difficult to use it accurately in all situations. Perhaps that is just me, but I find that my eye is not quite as sharp in many instances or that i just can't tell what wave we are in.. The best trades for me are when my system gets a signal and the waves fit the classical pattern in a very obvious manner....But i haven't used it for very long, so perhaps over time I will get better at it and be able to discern some of the more subtle patterns..
However, I have found it very difficult to use it accurately in all situations. Perhaps that is just me, but I find that my eye is not quite as sharp in many instances or that i just can't tell what wave we are in.. The best trades for me are when my system gets a signal and the waves fit the classical pattern in a very obvious manner....But i haven't used it for very long, so perhaps over time I will get better at it and be able to discern some of the more subtle patterns..