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RTB Relative wave sizes
01-23-2010, 11:06 PM
Post: #1
RTB Relative wave sizes
Hi Tom,

From discussions here and from your E-book I see that RTB's can extend for quite some relative distance beyond the length of wave 3 and furthermore the subsequent C wave can retrace very deep indeed.

Looking at this from a trading perspective you only know you have a RTB wave when prices return beyond the origin of the 'b' wave of the RTB, in your experience do you ever find C waves so short that wave 5 starts before 'b' of the RTB has been exceeded?

Secondly, the time of greatest risk it would appear to me is just after the RTB has been confirmed as the C wave is so variable, do you have any observations about how to deal with this? Indeed are there any inferences you can draw about the nature of the C wave from the extent an RTB carries beyond the end of wave 3?

P.S I've added a little sketch to show the possibilities as I understand them.


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01-24-2010, 01:12 AM
Post: #2
RE: RTB Relative wave sizes
(01-23-2010 11:06 PM)Steely Dan Wrote:  Hi Tom,

From discussions here and from your E-book I see that RTB's can extend for quite some relative distance beyond the length of wave 3 and furthermore the subsequent C wave can retrace very deep indeed.

Looking at this from a trading perspective you only know you have a RTB wave when prices return beyond the origin of the 'b' wave of the RTB,
Well actually this is not correct. (And as a side note - if it were, I
wouldn't have written the book).

You know where you are in the count by the larger degree, the New
Rule differentiations of waves, and the current degree, as verified with
lower degrees underneath.

Now, once established, you know that you will have an RTB 4th wave
because you are in either a wave 5 or C.

The waves will go where they will and it is by keeping track of the
internal counts that you will know where your opportunities lie.


Quote: in your experience do you ever find C waves so short that wave 5 starts before 'b' of the RTB has been exceeded?
Yes I have seen very shallow and very deep C waves, both RTB and
non-RTB. The C in an RTB can indeed only partially retrace the B.
Quote:Secondly, the time of greatest risk it would appear to me is just after the RTB has been confirmed as the C wave is so variable, do you have any observations about how to deal with this? Indeed are there any inferences you can draw about the nature of the C wave from the extent an RTB carries beyond the end of wave 3?

P.S I've added a little sketch to show the possibilities as I understand them.

The way I see it, the time of greatest risk is when you stop counting.

There is no predictive method to a market for an exact terminal except
Elliott Wave. To give your best means of knowing where the terminal
is over to subjectivity is to assume full risk for the whole of your
position and money management parameters.

It should be remembered what drives Elliott Wave in the first place and
that of course is market sentiment which changes constantly.

There are absolutely no relationships between waves which will repeat
in predictable, reliable ways. There are no time restrictions or
relationships.

There ARE precise wave formations within the rules. I have never seen
them broken. Having had that experience counting is the means to the end.

This pic may have already been seen but if not, the travel possibilities
are depicted at least for RTB 4ths:
http://newelliottwaverule.org/forums/thr...html#pid79

Smile

TS Hennessy
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