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Truncated 5th?
06-22-2017, 04:57 AM (This post was last modified: 06-22-2017 05:33 AM by Will29.)
Post: #1
Information Truncated 5th?
Hello again Tom,
I stumble uppon this complete wave strcuture and notice 5th did not reached new high. The wich only managed to go above RTB B wave closed candle but not higher then highest wick.

So I have only two questions on this matter.

#1
It she highest spot in a marked wave is considered a candle close within a body or a wich. For what I think it is a wich because even though price did not closed at that high/low point id does not mean price was not there. There for the wich should be considered a highest/lowest point in candle. Agree or disagree, comment would be great!

#2
It this is a truncated 5th? It's hard to believe sense it is so rare to see it occure only 1 in 50 times. (See images bollow) I was so up to higher high I puted an order and tracked the wave, but it did finished quick and sense I know that 5th wave have RTB 4 I would excpect it go higher, and current finished wave would be only a first out of five. But that was not the case sense now lower low crossed bellow c 4 which would only mean that It is finished and these will be no way to go higher. So question is how is it with 5th wave, how it can behave. What can happen and how offten you can see that happen?
That's USD/JPY on today 2017/06/22

http://@imgur.com/a/RJ5x8

http://@imgur.com/PPFbk8y

(BTW your images seem don't work when I put the the way they should show up with [img] and t.t. so I left links sense this is the only way I can show amalysis.
just delete @ part Smile).



Thank you.
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06-22-2017, 05:07 PM
Post: #2
RE: Truncated 5th?
(06-22-2017 04:57 AM)Will29 Wrote:  Hello again Tom,
I stumble uppon this complete wave strcuture and notice 5th did not reached new high. The wich only managed to go above RTB B wave closed candle but not higher then highest wick.

So I have only two questions on this matter.

#1
It she highest spot in a marked wave is considered a candle close within a body or a wich. For what I think it is a wich because even though price did not closed at that high/low point id does not mean price was not there. There for the wich should be considered a highest/lowest point in candle. Agree or disagree, comment would be great!

#2
It this is a truncated 5th? It's hard to believe sense it is so rare to see it occure only 1 in 50 times. (See images bollow) I was so up to higher high I puted an order and tracked the wave, but it did finished quick and sense I know that 5th wave have RTB 4 I would excpect it go higher, and current finished wave would be only a first out of five. But that was not the case sense now lower low crossed bellow c 4 which would only mean that It is finished and these will be no way to go higher. So question is how is it with 5th wave, how it can behave. What can happen and how offten you can see that happen?
That's USD/JPY on today 2017/06/22

http://@imgur.com/a/RJ5x8

http://@imgur.com/PPFbk8y

(BTW your images seem don't work when I put the the way they should show up with [img] and t.t. so I left links sense this is the only way I can show amalysis.
just delete @ part Smile).



Thank you.

Hi Will,

You are correct about the wick. True market exists as tick data plot and artificial
structures like candles are irrelevant.

The count you show for the overview on H1 could not be correct based upon legal
travel of particular waves. I consider truncation rather rare as well but it exists. (I
discuss and define it some in this post).

However even if it were compliant with truncation requirement, it is not having a
correct larger degree count which makes it difficult for you to see what is going on there.

Difficulties in getting the correct counts even while implementing NEWR arise for
reasons found in the EW technician, not the waves. Consistent with all human
undertakings, common faults and failings can and do sneak in. I detail these
in this post and I highly advise that one start THAT discussion with full
knowledge that one is already tending toward skimming and skipping seemingly trivial clues.

As for the legal travel this post may help. Consider especially the warning in
the post mentioned in the previous paragraph regarding tracking fully the nesting
of the 4th of C subwaves which make them travel both trend directions, often
extensively, while still maintaining the legal travel restrictions.

This full detail cannot be stressed enough. I suggest this wave has foiled your
attempt and thrown you off track. Expect more up imho.

To your H1 count, I see it follow a common tendency to call a 1-2-3 by glance at
scale without a true count. Because of that I think your M30 count was doomed
from the beginning.

Often the beginning of a 5th or C is unnoticed at a much smaller scale than thought
and before you know it the 1-2-3-A has been put in quickly, frequently with that A
being the first sharp you see. Then very very often the first breaking of a trendline
is the B of b of 4 of (5th or C) and is missed and included as just a subwave of
what is thought to be the "3" but has already gone by. Following this the C of B is
miscounted due to not even looking for it and the frequent speed and scale
changes which are just natural legal unfolding.

I hope you notice I am advocating real detailed work at an extreme of looking at
proof by several degrees of wave requirements or expect to be thrown off.

Smile

TS Hennessy
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06-26-2017, 04:23 PM
Post: #3
RE: Truncated 5th?
Well, you were right.

And I can only thank you for pointing important things first. For myself, I don't see a failure but a lesson. Fatal failure is only when you stop and give up, so as just now or a 100 times before I faced my mistakes and learn from them. Even if it takes years to master, I know within myself that it will be worth every single time.
Even I am young and am lucky enough to have everything left here by such a great minds, it is even harder to find anything that would be worthwhile learning. So many signals, teachers that are alongside amateurs without any real significant results. Never the less I see myself now just on a upcoming learning curve. It is in nature, so there is no other way around it.

I can only thank you Tomas for bringing this for people to find.
I was wondering around forums and I thought that you might be able to share some of your ways not get caught by natural human mind to skip things true and see this in more rational way. Could you share how do you determinate that what you looking at is not what it seems. Any tricks that work for you, fibo levels anything would be very valuable in deed.

As I'm only you could say first grade junior in technical analysis world I appreciate any knowledge it is shared and I never forget people who do.

Regards
Will
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06-26-2017, 08:02 PM
Post: #4
RE: Truncated 5th?
(06-26-2017 04:23 PM)Will29 Wrote:  Well, you were right.

And I can only thank you for pointing important things first. For myself, I don't see a failure but a lesson. Fatal failure is only when you stop and give up, so as just now or a 100 times before I faced my mistakes and learn from them. Even if it takes years to master, I know within myself that it will be worth every single time.
Even I am young and am lucky enough to have everything left here by such a great minds, it is even harder to find anything that would be worthwhile learning. So many signals, teachers that are alongside amateurs without any real significant results. Never the less I see myself now just on a upcoming learning curve. It is in nature, so there is no other way around it.

I can only thank you Tomas for bringing this for people to find.
I was wondering around forums and I thought that you might be able to share some of your ways not get caught by natural human mind to skip things true and see this in more rational way. Could you share how do you determinate that what you looking at is not what it seems. Any tricks that work for you, fibo levels anything would be very valuable in deed.

As I'm only you could say first grade junior in technical analysis world I appreciate any knowledge it is shared and I never forget people who do.

Regards
Will

Oh Absolutely! You have no failure there, just feedback.

For advice please thoroughly implement all tiny details of what my previous post layed out.

Fibo levels will not satisfy consistently enough unless you thoroughly understand
speed changes and degree of scale changes. The degree changes are part of the
mandated structure of the waves but speed changes are just part of variability
within the structure. Even when you know these the Fibo levels may easily be
violated by the variability.

For Forex and commodities and futures available on MT4 I have a tool that does
Fibo differently and is excellent for targets and reversals whether you use EW or
not but this too takes a bit of observation time.

You may check it out here:
http://supertradesystem.com/en/basetuned_newrf.htm

Since you asked however I would also suggest that after you have taken great
care to get 3 degrees carefully proven you now begin to observe the speed
changes which occur inside the nested RTB subwaves. I find that frequently the
third nested 4th breaks out in a burst.

Enjoy the journey.
Smile

TS Hennessy
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06-27-2017, 08:17 AM
Post: #5
RE: Truncated 5th?
I got to say I am interested in your STAR program. Read some reviews and most are positive, and other are people complain how difficult it is to learn to use it. Even so if you found out new EWR I’m sure you will amaze me again.

I had seen few screenshots of your program and I wonder if I could program an EA based on this. It does not seem to complex now, but who knows I don't even know how it really works yet.

I also have in mind building EA based on your book and Elliot wave principles. But this one is much harder to make because only knowing it is fractal based. I do not have that much computer knowledge to build it jet, but I always find ways if I need to.

Can you describe difficulty of STAR and BT DSR system, is it like candle cross overs on MA's or something similar to that. Then when I'll have good understanding in concept maybe I'll be able to know difficulty to build EA based on it.

Also would it be possible to share some real life trades made in around this month or this year. Or anything close to that.
Do you use it yourself and have system got any updates improving system?
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06-27-2017, 02:16 PM
Post: #6
RE: Truncated 5th?
(06-27-2017 08:17 AM)Will29 Wrote:  I got to say I am interested in your STAR program. Read some reviews and most are positive, and other are people complain how difficult it is to learn to use it. Even so if you found out new EWR I’m sure you will amaze me again.

I had seen few screenshots of your program and I wonder if I could program an EA based on this. It does not seem to complex now, but who knows I don't even know how it really works yet.

I also have in mind building EA based on your book and Elliot wave principles. But this one is much harder to make because only knowing it is fractal based. I do not have that much computer knowledge to build it jet, but I always find ways if I need to.

Can you describe difficulty of STAR and BT DSR system, is it like candle cross overs on MA's or something similar to that. Then when I'll have good understanding in concept maybe I'll be able to know difficulty to build EA based on it.

Also would it be possible to share some real life trades made in around this month or this year. Or anything close to that.
Do you use it yourself and have system got any updates improving system?

It's most likely that a STAR EA is possible with the latest format which had its last
update in 2014. This will not be on the front burner for me just now but later on.

There is no doubt in my mind that you would be amazed as that is a common
reaction from those who respect the complexities of markets. I did not in my early
trading career and busted several accounts and this even eventually cost me my
home. I will never forget loading all our belongings and my wife and two young
children into an old van to begin a brutal climb back out and up just to get on
pavement level financially.

Although I learned too late, nevertheless I knew through some intriguing
discoveries within the coolness of Fibonacci that I had to keep on learning. And I
am today SO grateful to be able to shine a little light for others on what I've found.

At one point I had some of these things packaged up and on offer for $10000 and
had some interested parties but I broke it up and removed it so I could give the
NEWR to the trading world. No money would justify me taking that secret to the
grave and heh we never know when.

In a blog post I specifically address both sides of the learning of STAR and trading
career failure. Not very coincidentally in that article I allow one to dip their toes in
the water of the STAR process on an actual trade from the hunt to the setup and
finally the signal.

The process is always the same so you know what you'd be involved in doing. The
things not discussed in the article are what you'll learn in the video tutorials and
criteria document. These tell you how to apply the system process with the done
for you tools as you step through that process with the criteria.

STAR is definitely not overly complex and has all mechanical objective criteria
using common technicals like MA crosses & orientation, histogram colors and price
hitting MAs or extending beyond a previous level.

This is so you can match our criteria with the localized market speed using existing
market features. It is digitally accurate to 3 places (with MT4's 8 digit depth in the
internal calculations) and identical for anyone who uses it.

The process is just not a red light green light slap it on and follow the bouncing ball
(I'm sure you've seen those that look nice until you actually see where the trades
would come in).

You can view the article here: http://supertradesystem.com/en/shortcuts_newrf.htm

As for BT DSR it has no rules or criteria but provides the biggest jaw drop as you
clearly see the market using it for all reversals.

The usage is more of an interactive thing. You see what the market has used by
loading the done for you templates of Fib Ratios and Fib Timeframes (like M233)
and then anticipate where the next reversal will come in and get multiple
convergences using other ratios / t/f's and plan your trade ahead.

The BT DSR page has a current example set of pics in a carousel. I'm waiting to
add the last leg but it has been impressive. It never stops and is awe inspiring to
observe the market's precision. The video was from 2013 and has this exact same
dance on display as seen in the current example pics.

That page is here: http://supertradesystem.com/en/basetuned_newrf.htm

Here's a recent STAR trade (yes I use both and they still and will always work the same):


[Image: STAR-Long-NFS-06-14-17-17_00-GBPJPYH1.png]

June has been slow for me since I've been on vacation the last half.

Member trades triggered in June on our watchlist are currently totaling 768 positive pips and 27 pips lost on 2 stopouts.

Smile

TS Hennessy
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