Ewj: elliott wave

Quote from elovemer:

..on 1 min
... i have 5 waves over two days...
... as part of a wave 3
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Elovemer, Thanks for the labeling.

I believe SPX chart is also useful for eMini S&P analysis. I will try to do EW on SPX chart as well.
 
Quote from mu200411:

blnbr,
Two simple rules to be a long term EWers.
1.The Market is always right :) .
2.Don't hesitate to change your counts :D .
mu.
Edit:
blnbr,
Your count was right until the third (3) wave became the shortest wave. At that moment you should immediately re-label your count.
To label a 1-minute chart you should review at least one month data, which will help you determine whether the segment is in a trend or a counter-trend.
A counter-trend is more difficult to label.
mu.
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Hi mu200411: Thanks for the practical advice, I learned from it.

I’ll try to follow the price movements in educated way, and hopefully to do certain predictions occasionally. :)

I have studied and practiced conventional TA for quite many years. I wondered if Elliott Wave followers still use conventional TA (e.g. trend lines, moving averages, patterns, volume, etc) together with Elliott wave analysis?
 
Quote from blnbr:

Are U implying these guys refused to help you before? :p
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not at all,this is one of the best sites on et,and you would be learning from the best
 
Hi blnbr

Its a little quieter on the thread at the moment as a few of us are on vacation :) )) but we always try and help people get to grips with the basics....
 
SPX failed to cross the red line :( .
We may be in Wave 4)b.a:5 which should make a lower low and a Bear Trap :eek: .

Edit:
blnbr,
Elliott used most of them himself.
I don't remember how Elliott said about moving averages.
mu.
Quote from blnbr:12-23-08 11:08 PM
I have studied and practiced conventional TA for quite many years. I wondered if Elliott Wave followers still use conventional TA (e.g. trend lines, moving averages, patterns, volume, etc) together with Elliott wave analysis?
More...
 

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Hi guys!

Merry Christmas to you and your loved ones!

The SPX weekly still seems to be time-wasting somewhere in wave (4)....

Great excuse for me to drink and be merry..... :D :D (Cheers to Landis' Guinness and Mup's Mount Gay Special Reserve....):)

Hi Blnbr,

Welcome....

Personally, I find starting with the longer term (eg weekly) counts much easier than to start with the short-term 1-min charts. I find short terms charts too noisy sometimes. :)

If I may quote from Prechter.... "Generally speaking, you need short term charts to analyze subdivisions in fast moving markets and long term charts for slowly moving markets." :)

And Mu's advice is VERY important.... :)

SPX weekly
 

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Quote from ed:

Hi guys!

Merry Christmas to you and your loved ones!

The SPX weekly still seems to be time-wasting somewhere in wave (4)....

Personally, I find starting with the longer term (eg weekly) counts much easier than to start with the short-term 1-min charts. I find short terms charts too noisy sometimes. :)

If I may quote from Prechter.... "Generally speaking, you need short term charts to analyze subdivisions in fast moving markets and long term charts for slowly moving markets." :)

And Mu's advice is VERY important.... :)
More...

Great advice all the way around.
Thanks Ed!
:)
 
blnbr,
I think Elliott used TA before he discovered the Wave Principle (although he didn't name it) .
TA is the basis for most of EW rules and patterns.
Trendline and trend channel => Wave equality,
Head and Shoulders => 3-4-5-a-b-c,
Reverse Head and Shoulders => a-b-c-1-2-3,
Double tops and bottoms => wave five failure,
Wedges => diagonal triangles,
Flag => triangles,
Volume highest in Wave 3,
Wave 5 volume > Wave 3 volume => irregular correction, etc.
mu.
 
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