....and here is your freaking measured move.... to know when to buy the freaking bullish butterfly..... ..... off by less than a freaking point..... .... tall snooder bones here....
...while waiting on the higher low for the weekly falling wedge.... here is the freaking result of the smaller rising wedge after 5th wave throw over....
possible wolfe waves.... .... smaller one looks good... to go down and hit target..... ....but if the market turns up next week.... then the bigger one could have yet to form point 5 ..... .....and the new target would be connecting point 1 and the as yet unformed point 4
ammo, there's a few examples of Harmonic patterns such as Gartley's , Bats Butterfly's ect on HarmonicTrader if you not come across the site before... http://www.harmonictrader.com/price_patterns.htm Have you been reading Tom Williams elovemer ??
hey Mup, yes i have been reading Tom Williams..... .... the thing is ... the daily bar on tuesday ... was a "no demand" bar..... .....but i have not reached the confidence level yet of trading off of the daily chart..... ..... but still.... after a big rise like that.... a "no demand" is significant enough to make a trade off of it.... .... also i have been reading the book from the Harmonic Trader website as well as a few others..... .... these are great patterns because they give you exact entries with small stops.... .... see you on ewj..... oh... i almost forgot.... Mup do you have this book ? Torque Analysis of Stock Market Cycles by William Garrett 1971 ? thanks Mup
.....ammo if you haven't already... i would recommend that you browse the following website to find great reading material.... http://www.4shared.com
Thats the Key elovemer! Hence thats why I'm a fan of Alts, Measured Moves , 1:1's ect, ect. The Harmonic patterns are another reflection of EW and how the waves relate to each other. To quote Elliott , "All waves of similar degree will relate in geometric formation" Its handy to know these ratio's in tandem with the wave patterns, the individual Harmonic patterns normally form in, like the 3 drives patttern forms in an Ending or Leading Diagonal pattern On Volume spread analysis, I too am far more comfortable using it on the Intraday time frames, rather than the daily. I tend to lean on delta points, which are again linked to EW and fibonacci to help with short term daily direction.