New Elliott Wave Rule Forums

Steely- I agree 1045 is the key price level.

Theory, please don't get married to my counts, your counts, the NEWR, sudden success ( and
certainly not any period of prolonged failed attempts ), or anything else for that matter. It is
just wave action at the beach. There will always be more to come.

Distance yourself from the normal emotional attachments as much as possible and treat these
wave events as little experiments in a lab. Learn something from every one of them and never
expect the experiments to end.

Now I am not aware of the trading scenario which applies here but for instructional use to
anyone reading who may benefit, the one thing which makes a huge difference is taking
trades on low impact percentage. In other words, the risk being kept to a minimal percentage
like 3% means every trade is a Lark. No great harm may come of it with any normal stop loss
and money management applied.

Therefore why not proceed to tempt fate? The goal is not to be perfect. A definitive count
can be wrong once in a while. It still was definitive and that is much better than being
crippled by indecision which comes from too many alternative possibilities.

In other words, Go For It! You'll know where it is advisable and whether you have sufficient
handle on the details.

(05-09-2010 10:07 AM)Steely Dan Wrote: [ -> ]Just one throw-away thought, the spike down was so severe that is it possible for waves to become so compressed time wise that they can't be validated?

Some throw away thought! I suppose given there is no limitation for the travel of an RTB 4th wave (save it can't retrace further than the start of 1) we could conceivably be in wave C of A of 4 whilst circa 1175 holds - then get our RTB-B wave a small C then one more low.

(05-10-2010 11:24 AM)Steely Dan Wrote: [ -> ]

(05-09-2010 10:07 AM)Steely Dan Wrote: [ -> ]Just one throw-away thought, the spike down was so severe that is it possible for waves to become so compressed time wise that they can't be validated?

Some throw away thought! I suppose given there is no limitation for the travel of an RTB 4th wave (save it can't retrace further than the start of 1) we could conceivably be in wave C of A of 4 whilst circa 1175 holds - then get our RTB-B wave a small C then one more low.

This is from the last page of the ebook:

Quote:Watching waves hit the Wave Key on a tick chart
and complete a wave in 3 ticks during an FOMC
interest rate announcement while in the middle of
a 300 point move in 4 or 5 minutes...

That was a required wave and it is burned into my
memory how it occured. A correction to a bull move
created a zigzag 3 wave in 3 ticks and the Marlin
was off and running again.

The detail unfortunately does not need our watching
to exist - so yes it may go unnoticed and cause errors
in fast market action.

Here are my updated charts. This wave up looks like it should be just about finished, and a return to below 1065 imminent.

Anybody else mind posting their chart so we can compare?

Here are my updated charts:

(05-16-2010 06:54 PM)finster869 Wrote: [ -> ]Anybody else mind posting their chart so we can compare?

Here are my updated charts:

Hi Finster869,

I'd like to review your pictures with greater detail but am having problems due to your choice of uploading ".png" instead of ".jpg" format.

Using my preferred Google Chrome browser, I can see everyone's images in the thread but at so-called "thumbnail" size (actually about 4"x6" usually). It's not enough detail unless I click on a picture to see it in full size format.

When I click on a ".jpg" file (e.g. Tom's) it opens a large scale version of it immediately in a new tab. I close the new tab when done. This works pretty well IMO. (There must already be a built-in plugin in Chrome to handle .jpg files because AFAIK I haven't customized it to handle .jpg; nor can I see anything obvious that I can do to help it handle ".png" files. (I suppose find some plugin... ). Instead, a click on ".png" brings up a "Save as" window. This would be multi-click tedious to save it and then open it with some external tool (like IrfanView).

If I switch to Internet Explorer, if I click on either a ".jpg" or a ".png" image, IE brings up a window offering to either "Open" it, or "Save as" some filename. I have installed IrfanView for images which works well enough for most any type of image. My reluctant use of "IE" is more cumbersome for images (because of the need to "Open" it to see it), plus IE is more prone to viruses so I'd like to stick with Chrome... but it doesn't handle ".png" well.

Maybe it's just my problem, or perhaps others have similar difficulties with ".png" ?? If you were to upload ".jpg" images instead, it would be more similar to Tom's posts and others. It would help me to see your pictures, maybe others too... and perhaps you would get more feedback ??

Thanks for considering the possibility of using ".jpg". Of course, it's your choice...

pips4life

Hi Pips. Unfortunatley, stockcharts only lets you download in .png or bitmap format. The bitmap files are too large to post.

If you use IE explorer, click on the picture, then open it using windows picture view/fax stock program. You can then zoom in and out to see whatever detail you want. Let me know if that works for you. Thanks.

So this forum is back to life after the long break after the Dow's new high. That's nice. Remember how back then I posted the Swiss SMI? Well, it was frontrunning then, and look at it now. Wild.
As to your png-files, finster, I downloaded an image viewer that supports png. That's the easy part. The problem is that if I click on one of your charts to enlarge it, before I'm logged in, the forum software asks me to log in (as it does with all other chart formats), but then it doesn't just take me back to where I was before. It forces me to close the forum, open it again and continue from there. Or to close the forum and stay logged in forever. Why is membership required to use the click-and-enlarge feature, anyways? It explains why there are so many more members than posters. But who needs those members?
The wave count would be so much clearer, if we deleted at least part of that fat-finger-thursday candle, maybe the part that was annulled later. That would give us a nice five down and a simple three up. but what REALLY bugs me, is that we've had no single Hindenburg-signal. And a very ugly daily candle on the VIX.

Hi Ruby. Welcome back. Please don't be a stranger (I feel like I am talking to myself half the time!) Do you have an updated Swiss SMI chart? Is it still frontrunning?