EW learning/counting topic - page 2.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: sandiman on June 16, 2016, 08:10:38 AM

So here is what I got from the ATH :

I really have no clue if it's accurate or not. One question came to my mind about the non-overlaping rule. Does it account for the whole candlestick, or only for the body?? I am facing this issue in the count following the screenshot provided in this post.

at no point should wave 1 and 4 overlap. Always use price extremes. Now, sometimes margin markets (BFX) will break rules from time to time because more coins can be bought/sold than users normally could on a standard market like Bitstamp. So it does make sense to cross reference with Stamp or okc spot to see if an invalidation occurred or not.

Edit:
the comment about margin markets... This applies more to lower time frames than longer tf's Daily and weekly charts should still adhere to the 3 core rules

sandiman

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Merit: 501

So here is what I got from the ATH :

I really have no clue if it's accurate or not. One question came to my mind about the non-overlaping rule. Does it account for the whole candlestick, or only for the body?? I am facing this issue in the count following the screenshot provided in this post.

sandiman

hero member

Activity: 560

Merit: 501

Quote from: RyNinDaCleM on June 16, 2016, 06:03:22 AM

Good to see some counts coming out!
What you should do is get a bearing on the big picture. Start with daily or even weekly. Then, when something looks good and holds the rules, then move to 4hr. Make sure it still looks good and everything still counts. Move to smaller time frames as you confirm everything continues to hold. If you find that an impulse you labeled on a higher time frame doesn't count out on lower tf's, you need to make adjustments.

What I already saw in your first post was a good start, right up until the e that makes a lower low. Triangles always have converging trend lines and only the top can decline, and only the bottom can rise. If both decline or rise, it is a diagonal and should be labeled with numbers. Diagonals are triangles, but happen in impulsive locations (1, 5, A and C) but are not corrective themselves so should be numbered.

BTW, you really should have made this self moderated.
Keep practicing and I'll definitely try to offer help anywhere I can.

Thank you a lot for all the advice, they are greatly appreciated (and probably from now on my biggest source to improve in counting).

I know I should have made it self moderated as you suggested, but I could not be bothered to moderate a topic, so i'll just ignore trolls as usual Grin

Cheers again!!

chessnut

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Quote from: RyNinDaCleM on June 16, 2016, 06:03:22 AM

Good to see some counts coming out!
What you should do is get a bearing on the big picture. Start with daily or even weekly. Then, when something looks good and holds the rules, then move to 4hr. Make sure it still looks good and everything still counts. Move to smaller time frames as you confirm everything continues to hold. If you find that an impulse you labeled on a higher time frame doesn't count out on lower tf's, you need to make adjustments.

What I already saw in your first post was a good start, right up until the e that makes a lower low. Triangles always have converging trend lines and only the top can decline, and only the bottom can rise. If both decline or rise, it is a diagonal and should be labeled with numbers. Diagonals are triangles, but happen in impulsive locations (1, 5, A and C) but are not corrective themselves so should be numbered.

BTW, you really should have made this self moderated.
Keep practicing and I'll definitely try to offer help anywhere I can.

THIS.

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Good to see some counts coming out!
What you should do is get a bearing on the big picture. Start with daily or even weekly. Then, when something looks good and holds the rules, then move to 4hr. Make sure it still looks good and everything still counts. Move to smaller time frames as you confirm everything continues to hold. If you find that an impulse you labeled on a higher time frame doesn't count out on lower tf's, you need to make adjustments.

What I already saw in your first post was a good start, right up until the e that makes a lower low. Triangles always have converging trend lines and only the top can decline, and only the bottom can rise. If both decline or rise, it is a diagonal and should be labeled with numbers. Diagonals are triangles, but happen in impulsive locations (1, 5, A and C) but are not corrective themselves so should be numbered.

BTW, you really should have made this self moderated.
Keep practicing and I'll definitely try to offer help anywhere I can.

sandiman

hero member

Activity: 560

Merit: 501

Quote from: chessnut on June 16, 2016, 12:58:12 AM

A painfully good start to an EW discussion Cheesy

You don't say, I did not even enjoy the luck of the beginner Tongue

So here is another count (helping me with your count btw chessnut) :

If this reveals to be correct, and that 3rd wave was the one extended, target is at the cross between upper channel and Fibo multiples (around 5050).

How do you guys do when counting on both USD chart and CNY chart, since the wave are the same (at least in the close picture)??

chessnut

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A painfully good start to an EW discussion Cheesy

sandiman

hero member

Activity: 560

Merit: 501

Hi all forum member,

This topic will be dedicated to post your EW counts that will be open to be criticized by any other forum member (while respecting each other, I mean here constructive criticism), thus allowing us to forecast the market as accurate as possible keeping in mind only wave count that have been validated or at least not unvalidated.

So here I go, as a total newbie :

As you can see I have two target with e and c that are between a 0.50 and 0.618 retracement of the previous wave (I have not a clue of what it is, but let's call it (1)). As you can see, two choice, wether a=c and e=c0,618 is the good target and we go at a retracement of around 0,5 of the (1) wave, weither we go for C around the 0.618 retracement point. if my waves counting is not false, we should also consider the 4th waves of one lesser degree giving more credit the the 0,5 retracement option. Finally, I could be totally wrong and this chart meaningless (this option has the biggest probability to happen!!!)

Topic: EW learning/counting topic - page 2. (Read 1637 times)