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Perfect Wave - 2011-Q4
- Thread starter snowrider
- Start date
Quote from ammo:
snow would you do this monthly ,i havent attempted to learn ew,but if this were wave 5,whats the longer /shorter than prev wave rule,or measured move,thanks and merry xmas
ammo - Thanks. Elliott Wave Principle is a very powerful tool. You'd better start learning that if you believe in Natural law. To answer your question, "if this were wave 5", my convention would label it as abcde instead of 12345 because the wave from the low of 2009-03 did not show an healthy impulsive movement. So, say, if we call it abcde, then your question is how high the final segment could go, right? OK, you see the second up leg from 2010-07 1011 to 2011-05 1371 has time span of 10 months and price span of 360. You can make a guess that the max target of the final up leg won't exceed the time A and the price B before a big correction because a rule says that the 3rd wave won't be the shortest. The answer can be measured from the correction of the second up leg, and it will be:
A = 10 months + 2011-10 = 2012-08
B = 360 + 1075 = 1435
This thread is closed. Please visit the new one:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=233839
http://www.elitetrader.com/vb/showthread.php?s=&threadid=233839