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Non-Tech : Kirk's Market Thoughts
COHR 138.10+2.9%3:59 PM EDT
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To: Return to Sender who wrote (21457)11/20/2024 12:35:56 PM
From: #Breeze5 Recommendations

Recommended By
berniel
Kirk ©
Return to Sender
sixty2nds
toccodolce

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What is the best book, or educational source, you would recommend on mastering EW?

Elliott Wave Principle. Also search for an EW pdf from Robert Balan. He outlines corrective waves not found in the EWP book. The labeling of corrective waves are the most challenging.

Basics are also described here: elliottwave.com

Is TradingView.com the best site for putting your years of experience to work? I have a StockCharts.com membership but other than an explanation of EW Theory there is no way to chart Elliott Waves on a chart except with some annotations.

Tradingview provides the tools for labeling a wave count, measuring a Fibonacci retracement and Fibonacci price extension. Fibonacci time extension. But it does not provide a EW price pattern. Before Tradingview I used Stcokcharts but I had to use an excel spreadsheet for the work that Tradingview tools provides

How much of the work does TradingView do once you set up charting parameters?

The additional benefit of Tradingview is that you can start with a yearly or quarterly or monthly chart (depending on price history) and label a high level wave count then expand to the next lower duration to fill in the detail wave count. For example if I start with a monthly chart I can label it, then expand to a weekly to label more detail, then expand to a daily and label more detail. As I label the detail I can measure a retracement (ie. if a wave two is it a 61.8% or if a wave four a 38%) and ensure no overlap of a wave four on the high of a wave one of the same degree. Can't do that on Stockcharts)

How much do you pay each month the use TradingView?

Go to Tradingview to view the different plans. Also there is an additional monthly charge for the exchanges that provides that data.

Bottom line: Practice Practice Practice is essential. I would say that 90% of those that try to learn EW give up. Learn the rules and guidelines. To begin with, don't try to wave count commodities and currencies.

You don't have to answer these questions Breeze. Or at least you do not have to rush to answer them.

I would however like to join you in mastering this technique rather than just relying upon you to do all the work.

Thanks as always for your time and expertise.
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