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Objective or Subjective?
02-08-2015, 02:37 PM
Post: #1
Objective or Subjective?
In Every 5th Wave and in Every C Wave, the 4th Wave WILL have a B Wave
which will set New Trend Price Territory.

Seems to me according to the ebook this rule should make things clear

however according to posts it still appears to be very subjective

as people still cant seem to figure out wave count.

Why not post something Simple like the pic I have attached?

If it isn't simple and clear to the majority who study it, it is worthless!


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02-12-2015, 05:01 AM
Post: #2
RE: Objective or Subjective?
Why didn't I think of that? Smile

Of course it (the stating of NEWR) is not in the least subjective and just as you said when every C and 5th will always have an RTB in its sub-4th that is as clear as it can be.

It's not the rule, it's in the way the market fools us. NEWR reveals the great variability that the market legally has while keeping true to the rules it follows.

Because of this the stating of the rule must be accompanied by the extra things like the legal travel for the affected sub-waves. I only included what was needed and as you gain a clearer understanding of NEWR you will see that it has been very simply stated.

Whether this extra variability adds more flavors is debatable but I believe it is our mental shortcuts which cause most issues. If you can avoid the pitfalls then with NEWR you would be good to go. What we all fall prey to from time to time is in the implementation. This is true of standard EW as well as the NEWR but with NEWR there are no "possible" extensions to HELP us get lost.

As to your drawing it does not actually show a valid EW or NEWR section in move 4-5. Your depiction and labels have c failing which it cannot do. It also shows wave labels which are not part of the NEWR. Simplicity indeed there is when only 1 thru 5 and ABC exist (which, in fact, is all there is).

It is never about how we draw it or label it but about what rules the market follows. It is very precise and never breaks from them. If you wish to use a unique labeling like adding in an R wave well you may. Labeling with others however is not going to work so well.

When you have followed the waves in fine sub-part detail and first have your higher degree position nailed with factual proof under NEWR you will see that there will only be 5 waves for motive and 3 for corrective in all cases, whatever you wish to call them. NEWR is about adopting the practices of the waves.

Smile

TS Hennessy
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10-19-2015, 04:12 PM (This post was last modified: 10-19-2015 04:45 PM by transistor.)
Post: #3
RE: Objective or Subjective?
See next post
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10-19-2015, 04:21 PM (This post was last modified: 10-19-2015 04:27 PM by transistor.)
Post: #4
RE: Objective or Subjective?
Hi,

Of late I have simply been counting to 5 and just seeing ABCD waves when the market
appears to move longer than expected. Adding the ABCD waves still gives me the 5 waves
up and the ABC wave down. I have found the what I call the ABCD waves can happen in any of the 5 waves up but most commonly occurs from wave 3 down to wave 4.

Im attempting to read your NEWR Ebook again as I still am
having trouble understanding it as I am not an elliotwave technician nor do I want to over complicate
things as my simple counting to 5 and ABCD waves seems to be working very well. However I know if I can understand what you have written properly it will increase the profitability of my trading.
I see the Wave Structure above in the Chart I posted happen over and over again in all time frames.
As a result I have learned to count the waves with a much more lose interpretation. That is, I allow the market to tell me when it's done with the wave count instead of relying on some hardened old school EW Rules. Not relating your discovery that comment. Just would like to understand it better.
Perhaps there are some clear examples on the forum you could direct me to.

Thanks
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10-20-2015, 10:18 PM
Post: #5
RE: Objective or Subjective?
There is only one way to understand and apply NEWR.

NEWR simply matches the actual form and rules that the market uses at all times without fail. Because the waves follow a strict yet simple 5 - 3 standard, NEWR is also the simplest model in all of EW.

There is no variable in which some waves behave differently. Elsewhere here as well as in the book I make clear that the variation in which a certain sub-wave has a different characteristic of how the 4th behaves is not to be confused with deviations in the rules. The retrending B (RTB) of the 4th of a 5th or C is a sub-wave, not a Wave variation. It is still part of a three wave formation, completing a corrective wave of the next higher degree. NEWR shows that the waves are extremely tight and consistently and strictly of a 5 - 3 construction. This means that ALWAYS they will unfold in 1-2-3-4-5 followed by a-b-c followed ad infinitum by the exact same alternation.

The ONLY thing that would cause one not to follow that is miscues in the count (providing that the NEWR is taken into consideration for the behavior in the sub 4ths of certain larger degree waves of which they are part). Proper application may not be "easy" but this has been true of standard EW since Mr. Elliott gave us his discovery.

Implementing NEWR:

Correctly and carefully count (meticulously account for sub-waves in all their glory!) with the knowledge that every formation begins (clearly moves away from former trend) with a motive wave of some degree.

This will mean that you always get to wave 3 of the next lower degree and then you will encounter an A wave (another 5 wave).

When the next wave is a B wave (a three) that breaks new trend ground beyond wave 3 you have encountered a retrending B (RTB).

This must then mean that your wave 3 was either a 3 of 5 or a 3 of c. This will help in identifying your next larger degree correctly. You then have your next qualifier at that degree meaning that to validate the work you've done the next movements will prove the case or expose the mistake. This has always been the case in standard EW. The difference is that there will be absolutely no crutch of a "phantom" extension that threw off the count nor the invention of double threes, extra letters above C and such apparitions.

Traps Identified:

1) Casual Counts.

2) Forgetting the legal travel of the 4th's sub-waves in an RTB.

3) Forgetting the implication created by that travel so as to fail in tracking sub-waves of sub-waves which creates nested 4ths prior to the final terminus of the RTB. (Depending on the granularity of the data you will often easily spot 5 or 6 degrees of this phenomenon.)

4) Being fooled by speed changes. Just because you see a really strong move does not mean the wave count changed but the speed may have and usually does.

Whether others get this right is not something which changes what the waves do. I publish this because it must be published once revealed, simple as that. I advise that one dispense with the notion that these rules are flexible because they are not. R.N. Elliott agreed with that, my friend.

If you have a simpler labeling with which you are comfortable then by all means label on. Time will prove it all out.

Smile

TS Hennessy
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