New Elliott Wave Rule Forums

(11-01-2010 05:58 AM)finster869 Wrote: [ -> ]I'm not following this concept: "3) Draw a line from wave 1 start through the terminus of the B of RTB-4 of C of 4th. The end of the 5th wave will be near here - just above or just below
and often in a spike. This can help quite a bit since just as in this
example the 5th was not easy to count."

Can someone post a few more examples?

I did write the description rather compactly, sorry. Perhaps if I start
from where you would be on the chart when you are first able to do it,
it may help. Other examples probably would not because one example
is just as good as any other.

So we may look at it this way:
(For clarity when referring to 5th or C it is the larger degree wave which
we want to find a trading pivot for and "last wave" will be the next
lower degree 5th of that 5 or C)

We begin when you are in the 4th subwave of a 5th or C. Specifically,
the B subwave of the C of that 4th has just finished.

From that terminal point draw a line segment back to the start of the
5th or C wave.

Now after the C of the 4th is done and the last wave is underway
extend your line segment to the right creating a ray out of the line
segment. This is now a moving target along the time and price grid.

This will become your target area for the completion of that last wave.
It is an "AREA" not an exact target so do not expect this to hit and
bounce off. It will be as close to a time and price grid crossing as you
will find I think, using anything mechanical such as this.

At the least it is a reality check. Often I was watching for more
development when instead the development of nested RTB's was early
in the last wave and I had not correctly marked it off.

That meant little remained except the blowoff where detail is often
hidden. I got better but this trick still helps me. Of course, this does
rely upon correct location of the RTB 4th wave's B of C.

I think that is the best way I can explain it and I hope that clears it up.

Ok, now I understand! Was looking at the RTB of the full 5 wave move, rather than the B of C of the 4th which heads in the opposite direction. Now I see it. Do you think it makes sense to mark the "B" that you are drawing the line through on your example so that everyone can see it more easily?

Assuming my count was correct, is this how you would draw the line?

[attachment=351]

(11-01-2010 03:52 PM)finster869 Wrote: [ -> ]Assuming my count was correct, is this how you would draw the line?

Well let's rather try this on a historical known count so there is better
confidence.

A good place to start is just like I used in the book, where the highs
and lows PROVE that it must be a 5th or C wave.

(11-01-2010 01:09 PM)TS Hennessy Wrote: [ -> ]

(11-01-2010 05:58 AM)finster869 Wrote: [ -> ]I'm not following this concept: "3) Draw a line from wave 1 start through the terminus of the B of RTB-4 of C of 4th. The end of the 5th wave will be near here - just above or just below
and often in a spike. This can help quite a bit since just as in this
example the 5th was not easy to count."

Can someone post a few more examples?

I did write the description rather compactly, sorry. Perhaps if I start
from where you would be on the chart when you are first able to do it,
it may help. Other examples probably would not because one example
is just as good as any other.

So we may look at it this way:
(For clarity when referring to 5th or C it is the larger degree wave which
we want to find a trading pivot for and "last wave" will be the next
lower degree 5th of that 5 or C)

We begin when you are in the 4th subwave of a 5th or C. Specifically,
the B subwave of the C of that 4th has just finished.

From that terminal point draw a line segment back to the start of the
5th or C wave.

Now after the C of the 4th is done and the last wave is underway
extend your line segment to the right creating a ray out of the line
segment. This is now a moving target along the time and price grid.

This will become your target area for the completion of that last wave.
It is an "AREA" not an exact target so do not expect this to hit and
bounce off. It will be as close to a time and price grid crossing as you
will find I think, using anything mechanical such as this.

At the least it is a reality check. Often I was watching for more
development when instead the development of nested RTB's was early
in the last wave and I had not correctly marked it off.

That meant little remained except the blowoff where detail is often
hidden. I got better but this trick still helps me. Of course, this does
rely upon correct location of the RTB 4th wave's B of C.

I think that is the best way I can explain it and I hope that clears it up.

Thanks for the explanation Tom, That's really helpful. If I may add a little observation I have seen on the FTSE; - The bottom line of a rising support channel seems to be a good target for wave C of rtb 4th waves, which may also be an aid to orientation. So what are we left with? QE2, Ben to the rescue then sell the news?

(11-03-2010 04:13 AM)Steely Dan Wrote: [ -> ]Thanks for the explanation Tom, That's really helpful. If I may add a little observation I have seen on the FTSE; - The bottom line of a rising support channel seems to be a good target for wave C of rtb 4th waves, which may also be an aid to orientation. So what are we left with? QE2, Ben to the rescue then sell the news?

Agreed, Dan, Thanks. And not only news selling but there is all the
political spin and angst. Perhaps the biggest story is the 1200 mark
which looms large for testing. A good spot for a C to develop.

Hi Guys

If its not to much trouble Im hoping Tom could shed some light on this question for me here?

I have this little voice in the back of my mind that keeps questioning that c4 at 1171.70 which in turn brings the placement of b at 1193.17 into question as well. Its most probably my lack of understanding with regards to some of the elements pertaining to the proportions of newr. I would have expected the termination of c4 at 1171.70 to at least close below "c "4 at 1171.17 and head into the territory of 3 or even just above it. It just doesnt look proportionally correct and this is whats bugging me. So my question here Tom, if you dont mind, is it possible for c4 at 1171.70 to be so shallow ? .

Perhaps you have already addressed the above issue with Dan in your previous post Im not sure. You suggested the 1200 mark which looms large for testing could be a good place for C to develope, did you mean .C ? Im still trying to get these degree lables down and just cant seem to figure out how a C can develope there without changing the .A and .B at the beggining of the construction of our b wave.

Im sure Ill get all this sooner or later, thank you for your paitents all and take care.

Can somebody post an updated chart based upon TS's count?

(11-04-2010 05:24 AM)spike1 Wrote: [ -> ]Hi Guys

If its not to much trouble Im hoping Tom could shed some light on this question for me here?

I have this little voice in the back of my mind that keeps questioning that c4 at 1171.70 which in turn brings the placement of b at 1193.17 into question as well. Its most probably my lack of understanding with regards to some of the elements pertaining to the proportions of newr. I would have expected the termination of c4 at 1171.70 to at least close below "c "4 at 1171.17 and head into the territory of 3 or even just above it. It just doesnt look proportionally correct and this is whats bugging me. So my question here Tom, if you dont mind, is it possible for c4 at 1171.70 to be so shallow ? .

Perhaps you have already addressed the above issue with Dan in your previous post Im not sure. You suggested the 1200 mark which looms large for testing could be a good place for C to develope, did you mean .C ? Im still trying to get these degree lables down and just cant seem to figure out how a C can develope there without changing the .A and .B at the beggining of the construction of our b wave.

Im sure Ill get all this sooner or later, thank you for your paitents all and take care.

First let me put my statement to Dan in my previous post into
perspective as well as properly describe it as I should have.
When saying this would be a place for C to devlop I was referring to the
starting point of the finishing wave Cycle [c] for the Supercycle [4].

Now to address your general technical question, a C4 has no limitation
on travel other than it is bound to have 5 waves and have an RTB 4th
subwave in the structure. This means it may end its travel shallow or
go deep.

The C4 may not however extend beyond the start of wave 1 of the next
higher degree ( the same degree as the 4 of which it is a part ).

Please refer to this chart for the overall view:
Bird's Eye View of the Count

Therefore specifically the C4 you expected to reach 1117 could not do
so because the larger degree wave .v begins above that point. The
Sub-Micro .v wave is concluding the Micro .C which concludes the
Subminuette b.

Now to your proportions which have gotten you perplexed, firstly, join
the club!

We have many times discussed the spikes and hidden details. These
very things which have been observed countless times are caused by
speed changes which occur with each new wave.

A wave which has a fast speed covers more price territory relative to
time than does a slow one ( I have a remarkable grasp for the obvious,
don't I? - ...but I want you to picture it... ).

So it stands to reason that the only way for you to observe a spike is
for the wave to exhibit a shallower C4 subwave.

OK - now here is the big BUT...

When you are building a Minute (v) spanning Weeks to Quarters, what
will appear eventually as a blowoff fifth wave on a Yearly chart later on,
you see now on your 15 minute charts as detail. This is what may ruin
your perspective.

This is not as steep as some spikes but it is not deviating, having
already gotten the severe correction out of the way during the summer
months.

(11-04-2010 09:38 AM)finster869 Wrote: [ -> ]Can somebody post an updated chart based upon TS's count?

First we should look at this latest C of 4 which concluded much more
shallow than I expected and illustrates my previous discussion about
shallow C waves in a spike.

[attachment=353]

Now on to the completion of Minuette 5 ( and with it Minute (v) and
Minor (5) ) which will all complete another wave C4 on a higher
degree - that being the Intermediate {circle-c} which of course
finishes the Primary {circle-4}.

I hope that is not too confusing. For a chart of this even larger view
you can visit the first post of this thread here:
Jetliner View of the Count

I'll let someone else post counts into the current wave for now.