Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Ending Diagonals
02-28-2010, 06:51 AM
Post: #1
Ending Diagonals
As per old rules an ending diagonal has the sub-wave format 3,3,3,3,3. In New R I suppose you could explain away the overlapping nature of the waves as overlapping 4th waves, however I suppose it is also possible that the final 3 within the 'diagonal' is actually an RTB 4th and the 5 waves against the trend which follow are indeed a C of 4, is that possible?

I mention the above in the context that some wave counters are counting the January high for the Dow as an ending diagonal, is it possible the top in January may have been an RTB?
Find all posts by this user
Quote this message in a reply
02-28-2010, 08:30 AM
Post: #2
RE: Ending Diagonals
Do I smell fear that the top may not be in after all? :-)
Find all posts by this user
Quote this message in a reply
02-28-2010, 08:46 AM
Post: #3
RE: Ending Diagonals
(02-28-2010 08:30 AM)ruby Wrote:  Do I smell fear that the top may not be in after all? :-)

Ruby, I thought us wavers were immune to fear. Smile

Tom gave as a caveat to one of his proposed counts even he can take a wrong step along the way. I'm trying not to have a view either way as a bias is no good for counting, however when things do go wrong there is often a more valuable lesson to be learned than when things go right. I suppose what I'm driving at is does a wrong turn on a very small degree have the potential to make a difference to the count on a far larger degree, a bit like the butterfly effect, or do the majority of counting errors likely to mean you are just one high or low out on the degree you are counting? I can live with either but it does make a difference as to how you plan your trades.
Find all posts by this user
Quote this message in a reply
03-02-2010, 05:18 PM
Post: #4
RE: Ending Diagonals
(02-28-2010 08:46 AM)Steely Dan Wrote:  Ruby, I thought us wavers were immune to fear. Smile

Tom gave as a caveat to one of his proposed counts even he can take a wrong step along the way. I'm trying not to have a view either way as a bias is no good for counting, however when things do go wrong there is often a more valuable lesson to be learned than when things go right. I suppose what I'm driving at is does a wrong turn on a very small degree have the potential to make a difference to the count on a far larger degree, a bit like the butterfly effect, or do the majority of counting errors likely to mean you are just one high or low out on the degree you are counting? I can live with either but it does make a difference as to how you plan your trades.

Very good way to think about this.

Here is another way to think about Definitive Wave Counts vs Perfection:

Quote:"Anyone who has never made a mistake has never tried anything new." -
Albert Einstein

The objective is to do the best with what we have. I much rather prefer
to have a known set of waves and a known set of rules rather than
a myriad of possible waves and rules with back-door clauses punctuating
every move.

To my delight the waves ARE limited to an exact set and the New Elliott
Wave Rule set has no back-door clauses.

That does not make this easy and...
prepare for mistakes - we will make them!

Smile

TS Hennessy
Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump: