POLL: Elliott Wave vs Support & Resistance (which is better?)
- Thread starter schizo
- Start date
I could just be clairvoyant but the waves jump out at me, or I just don't trade it.
Impulse waves taught me about HSR because it is the only way you can tell them apart from corrective waves.
Next comes the concept of the pivot, which your diagram shows below as support below a mild corrective wave.
Next came the insight that wave 3 is usually the one that breaks the pivot, and volume is the clue on the way out. Before this, volume is unusually dry, as no one is getting their limit orderz filled any more on the support, so they start raising them. That causes the "hook" at the end, right before blastoff......
Impulse waves taught me about HSR because it is the only way you can tell them apart from corrective waves.
Next comes the concept of the pivot, which your diagram shows below as support below a mild corrective wave.
Next came the insight that wave 3 is usually the one that breaks the pivot, and volume is the clue on the way out. Before this, volume is unusually dry, as no one is getting their limit orderz filled any more on the support, so they start raising them. That causes the "hook" at the end, right before blastoff......
Attachments
That's always a plus.
Yup, everything looks crystal clear when all is said and done.
The warning sign before collapse is similar to how animals run to higher ground after detecting the low rumble of an off-shore earthquake: the Chop before the Drop
Livermore called it the "warning sign"
Basically everything is fine and a huge sell order hits the tape. Things float back up for awhile and it happens again.
This same event is chronicled over and over in the book (one of the few I still read, related to markets): Manias, Panics and Crashes. Big profits get booked, and then the end comes.
Livermore called it the "warning sign"
Basically everything is fine and a huge sell order hits the tape. Things float back up for awhile and it happens again.
This same event is chronicled over and over in the book (one of the few I still read, related to markets): Manias, Panics and Crashes. Big profits get booked, and then the end comes.
You are correct. It is just PHYSICS if you know what to look for.
Talk to me when you can forecast price over a year in advance like I did with BTC. That can only be done with EW and fibonacci.
(nice drawings though...did you put those up on the fridge?)
Here is the proof.
https://community.swingcharts.com/c/8-category/8
No need to forecast when you can react in real time. Using EW or Fib #'s is as consistently accurate to forecast future price action as a weather person is on any given day forecasting the weeks weather. "Sometimes" doesn't constitute a career path.
Actually they are pretty accurate with the weather forecast nowadays
Anyway your realtime reactions could all be put together in one swing trade.
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