21 replies to this topic

[da_cheif]

"Obviously this count is bearish Mr.Wolanchuk... while you still think (of course) this is the epicenter of the wave 3"

Albert, back in the summer of '32, when the Chief was a younger man, he issued a "buy" and he has been right ever since. This other stuff is just recreational trading around his core position.

summer of 1732...

[Swiss Trader]

"Obviously this count is bearish Mr.Wolanchuk... while you still think (of course) this is the epicenter of the wave 3"

Albert, back in the summer of '32, when the Chief was a younger man, he issued a "buy" and he has been right ever since. This other stuff is just recreational trading around his core position.

In fact... this is the reason why he thinks that we are in the epicenter of the wave 3

Albert

[da_cheif]

i didnt say "i think"

[Tor]

An impulse is always followed by a correction.... +/- deep

The structure of five waves seems clear to me

The channel is very important... and we are close the top, with the five up

Albert

i thought wave 3 had to be the longest? Rather than wave 5?

Thanks.

Wave 3 must be an Impulse
Wave 3 must be longer than Wave 2 in gross distance by price
Wave 3 cannot be less than 1/3 of Wave 1 by price
Wave 3 cannot be more than 7 times Wave 1 by price
Although there is no minimum time constraint for Wave 3, its absolute maximum time limit is 7 times Wave 1
Wave 3 must never be shorter than both Wave 1 and 5, by either price distance or percentage price movement.

Albert

But wave (3) is shorter than (5) in time an price on your chart, no?

[LeroyB3]

Albert

I would take issue with your Waves (3) and (4). Why don't you think (4) bottomed where you have A?

Best,

LB

[n83]

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Edited by n83, 03 June 2007 - 04:44 PM.

[Swiss Trader]

Albert

I would take issue with your Waves (3) and (4). Why don't you think (4) bottomed where you have A?

Best,

LB

Because it is not followed immediately by an impulse (I can't count 5 waves but 3) as expected, so I prefer that count

(3)-a-b-c-x-a-b-c-A-a-b-c -B-a-b-c-C............................

Edited by Swiss Trader, 04 June 2007 - 01:50 AM.

[LeroyB3]

Did you only check the weekly chart? Not all waves are going to show up on a weekly chart. Best, LB

[Swiss Trader]

Did you only check the weekly chart? Not all waves are going to show up on a weekly chart.

Best,

LB

I agree, but that's not the case

This weekly chart is very clean and the channel helps about the labelling

Albert

[selecto]

I appreciate that there is value in wave analysis, and find this discussion helpful. Albert, here is a (dumb?) question: If a couple of EW geeks where hanging out, and one said, "(3)-a-b-c-x-a-b-c-A-a-b-c -B-a-b-c-C" would the other "know" the implied direction and/or magnitude of the next move, without seeing a chart or knowing the name?