Elliott wave

gharghur2 · Dec 21, 2005

Hi Q,

A wave 4, true.

Would like to see a momentum positive divergence, or a convincing push through NDX 1671

Good trading
tony

quintrix · Dec 21, 2005

Quote from gharghur2:

Hi Q,

A wave 4, true.

Would like to see a momentum positive divergence, or a convincing push through NDX 1671

Good trading
tony

Thanks Tony,

quote from my blog:

"I think that today's price action could be the end of c of a minor a-b-c up, as part of the wave four
If I am right, the downside movement will continue, over the next days marking new lows"....

http://elliottwaver.blogspot.com/

Best

Q.

gnome · Dec 21, 2005

Elliott Wave, High Probability..... If it EVER was valid it no longer is. When R. N. Elliott did his work, the market was dominated by individuals who traded their own money... who not only wanted to make profit, but were afraid of losing capital.

Today, the market is dominated by "agencies", whose prime motivation is keeping up with peers.

Basically, reliance on E-Wave = No Hope. The best thing that could happen to most traders is to forget they ever heard of E-Wave.

quintrix · Dec 21, 2005

Quote from gnome:

Elliott Wave, High Probability..... If it EVER was valid it no longer is. When R. N. Elliott did his work, the market was dominated by individuals who traded their own money... who not only wanted to make profit, but were afraid of losing capital.

Today, the market is dominated by "agencies", whose prime motivation is keeping up with peers.

Basically, reliance on E-Wave = No Hope. The best thing that could happen to most traders is to forget they ever heard of E-Wave.

Obviously you don't know anything about EW

Stay ignorant...and happy

E-wavers don't love blind minds

EW is all...it is the world around you,... but you have never noticed it

Q.

gharghur2 · Dec 21, 2005

Quote from quintrix:

Thanks Tony,

quote from my blog:

"I think that today's price action could be the end of c of a minor a-b-c up, as part of the wave four
If I am right, the downside movement will continue, over the next days marking new lows"....

http://elliottwaver.blogspot.com/

Best

Q.

Surely plausible!

I'm just watching the action, fully invested of course, as the NDX deals with the pivots at hand: 1639 1658 1671 1690, etc.
We held 1658 perfectly yesterday. Then mustered a 25 point, oversold rally, and closed after the afternoon selling right at 1671. We're close to an important bottom.

tony

cnms2 · Dec 21, 2005

It's interesting to watch this discussion unfolding: two different EW readings. It seems that one difference is that gharghur2's more longer term oriented, while quintrix's is shorter term focused.

Quote from gharghur2:

Surely plausible!

I'm just watching the action, fully invested of course, as the NDX deals with the pivots at hand: 1639 1658 1671 1690, etc.
We held 1658 perfectly yesterday. Then mustered a 25 point, oversold rally, and closed after the afternoon selling right at 1671. We're close to an important bottom.

tony

gharghur2 · Dec 21, 2005

Quote from cnms2:

It's interesting to watch this discussion unfolding: two different EW readings. It seems that one difference is that gharghur2's more longer term oriented, while quintrix's is shorter term focused.

Good observation!
I'm definitely intermediate term oriented

Can't speak for Q...

gnome · Dec 21, 2005

Quote from quintrix:

Obviously you don't know anything about EW

Stay ignorant...and happy

E-wavers don't love blind minds

EW is all...it is the world around you,... but you have never noticed it

Q.

Oh yeah, I've noticed plenty. I had E-Wave software probably before you started trading. One thing I never noticed, however, was the E-Wavers' YACHTS!

E-Wave is like the Siren's Song.... sounds beautiful and looks attractive but is destined to leave you crashed upon the rocks. (Actually, more like a gigantic waste of time.)

cnms2 · Dec 21, 2005

When I read this kind of posts I always wonder: why did this person take his time to write it? Is he doing this from his heart goodness: he wants to help those other misguided guys to see the light, or he's just an obnoxious prick who doesn't know better? Firstly I give everybody the benefit of the doubt, but in the overwhelming number of cases I conclude he doesn't deserve it, and end up by ignoring him. If you're the well intended kind explain yourself, and soften your language.

Quote from gnome:

Oh yeah, I've noticed plenty. I had E-Wave software probably before you started trading. One thing I never noticed, however, was the E-Wavers' YACHTS!

E-Wave is like the Siren's Song.... sounds beautiful and looks attractive but is destined to leave you crashed upon the rocks. (Actually, more like a gigantic waste of time.)

gnome · Dec 21, 2005

Quote from cnms2:

When I read this kind of posts I always wonder: why did this person take his time to write it? Is he doing this from his heart goodness: he wants to help those other misguided guys to see the light, or he's just an obnoxious prick who doesn't know better? Firstly I give everybody the benefit of the doubt, but in the overwhelming number of cases I conclude he doesn't deserve it, and end up by ignoring him. If you're the well intended kind explain yourself, and soften your language.

You're correct... out of the goodness of my heart. (I should know better.... traders hold to their TA perceptions like a religion.)

I've known about E-Wave for 20 years... subscribed to Prechter's newsletter... had some E-Wave software... and eventually concluded that it's not reliable.

Just trying to save someone some grief... no skin off my nose either way.