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Scalping the C wave.
12-02-2010, 09:16 AM
Post: #1
Scalping the C wave.
Tom,

I signed up for a free webinar with a company called Elliottician.com. They were claiming to have found a trade set-up with a 90% success rate. My automatic skepticism was reduced ever so slightly when I drew a parallel between what they were describing and the behavior surrounding rtb-b waves occured to me.
The set up is two straight motive waves separated by a sideways consolidation followed by a straight motive wave in the other direction forming a 'v' shape, then a sideways consolidation which has some overlap with the sideways wave left of the 'v'. Now a move to the price origin of the first straight has a 90% chance.
Now the same description in our language;- An rtb-B wave followed by a 123 reversal to overlap with b of B gives a 90% chance the rest of the C wave will reach the price origin of B. (See diagram).

Without commenting on the likelihood of this method working could you give your subjective experience as to how many C waves are greater than or equal in size to the corresponding rtb-B wave?

P.S There are other guidelines such as the symmetry of the V and no internal overlaps within the motive legs of B, but these don't alter the question.


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12-02-2010, 07:43 PM
Post: #2
RE: Scalping the C wave.
Not Tom, but in my experience, more often then not, the c wave is shorter than the rtb and does not retrace all the way back to a's price range. Of course, the rtb 4c is free to all the way back to the start of 1, but I find that more often than not it does not enter a's price level.

Anybody else?
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12-03-2010, 12:07 AM
Post: #3
RE: Scalping the C wave.
I don't know what they are banking 90% on.

In my opinion it would be far from anything close to that where you can
bank a bet on C reaching A's furthest reach in an RTB 4th wave.

The waves have and make use of quite a range of variability.

Smile

TS Hennessy
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