i connect the b and d waves to draw the trend line elliott wave style.......... because the extreme ends do count. that's where the wave ends
- #3,162
- Apr 20, 2014 2:05pm Apr 20, 2014 2:05pm
{image} {image} {image} {image} HelloI hope you see some sort logic here..
- #3,165
- Apr 20, 2014 2:52pm Apr 20, 2014 2:52pm
{quote} LL please make sure wave 1 is the longest wave in your first chart if you are looking at it as a diagonal. that's what i read in the guide
As of your note about including or not the extreme in a trend line, you are right, they are very important when you speculate on a price, less when you are looking for a general direction.
Either way, nothing is utterly wrong as long as you always do it the same way
- #3,167
- Apr 20, 2014 3:34pm Apr 20, 2014 3:34pm
venzen, did you have to tell the whole world about the july date 
. it's supposed to be our secret
! nice article (didn't read it all yet.. slow reader! and slow comprehender)...
venzen, you forgot to give us credit! LL & emptymind
give credit where credit is due! thank you sir!
. it's supposed to be our secret! nice article (didn't read it all yet.. slow reader! and slow comprehender)...venzen, you forgot to give us credit! LL & emptymind
give credit where credit is due! thank you sir!
- #3,168
- Edited 4:03pm Apr 20, 2014 3:52pm | Edited 4:03pm
hello LL, i don't know which guide/book you are reading but my internet guide says: "Wave 1 is the longest wave and wave 5 the shortest." anyway, great work on your charts....... i didn't realise your wave 5 drop below 3 (on your 3rd chart)... btc-e is totally different than bitstamp!.. i may have to change my labels. your chart is very helpful .keep up the good work
You too We all doing some pretty good job here atm I don't have my book anymore, so it's all by memory. Which I sometime refresh through diverse web sources. I guess i could probably get a pdf version.
For now I checked here : http://elliottwavepredictions.com/wave-notes/ and other internet resources like bukowski, ew.net and stuff and I can't say I found anything,
note : the link i quote is pretty good, they actually mention that in history their was one case of expanding diagonal
also the "wave personality" part is a great read.
@Addional, welcome here, feel free to post your firsts charts it's the best way to practice
- #3,169
- Apr 20, 2014 4:02pm Apr 20, 2014 4:02pm
{quote} Thanks
. i've seen his work and it is precision work. this is where i got the idea on how to spot wave 3 using macd. i think he is the best elliotician in the world
- #3,171
- Edited 4:53pm Apr 20, 2014 4:18pm | Edited 4:53pm
{quote} i know of elliottwavepredictions. he is very excellent elliotician. i mostly try to think like him but often fail
I was thinking, have you ever thought of using the momentum indicator to confirm first and A waves ?
- #3,172
- Apr 20, 2014 4:23pm Apr 20, 2014 4:23pm
{quote} Yay, me too
)
- #3,176
- Apr 20, 2014 5:05pm Apr 20, 2014 5:05pm
{quote} the more opinions the better so we can try to understand what the market is doing. if you could show how market is going to 388 that would be great. i just can't picture it in my head or with labels.... i don't understand how venzen and others? can't see my downtrend line breakout. i see the recent breakout and a successful retest of this line (support now!)... so i don't know maybe the software is different. i just use ..wisdom. not standalone app.
- #3,178
- Apr 21, 2014 12:56am Apr 21, 2014 12:56am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} the more opinions the better so we can try to understand what the market is doing. if you could show how market is going to 388 that would be great. i just can't picture it in my head or with labels.... i don't understand how venzen and others? can't see my downtrend line breakout. i see the recent breakout and a successful retest of this line (support now!)... so i don't know maybe the software is different. i just use ..wisdom. not standalone app.
for me it's not cut-and-dry that we're in an impulse and going up. Don't feel bad me not agreeing at this stage - i have to trade according to my own analysis because if i trade your's and it goes wrong then I suffer the loss and you can just change your count! So, i take responsibility for my own risk and reward.
Look at my chart: There is no breakout evident (white pointing finger) and secondly, the two structures indicated by the yellow arrows are virtually identical. How could I expect that the current structure will somehow continue upward when 3 other structures before it (and similar to it) continued the downtrend?
Until the upper trendline is broken, there is no rational reason for me to assume that trend has changed. That's all. If it does change to the upside - all the better and we start looking for targets north. But until then I prefer to adopt a neutral stance and not to invest capital according to hope or emotion i might have for either direction.
cryptocurrency everytime
- #3,179
- Apr 21, 2014 2:18am Apr 21, 2014 2:18am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #3,180
- Apr 21, 2014 3:15am Apr 21, 2014 3:15am
i guess i have to teach everyone how to draw a line (joking!)
in a triangle locate where the b wave and d wave are.......... join them together and extend line downwards... look for anything popping out of this line (breakout)
i drew this line in microsoft paint & bitcoinwisdom line tool... both show breakout so i don't know what you people are thinking!
in a triangle locate where the b wave and d wave are.......... join them together and extend line downwards... look for anything popping out of this line (breakout)
i drew this line in microsoft paint & bitcoinwisdom line tool... both show breakout so i don't know what you people are thinking!