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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (1424)	7/21/2008 7:52:32 PM
From: Moominoid	Read Replies (2) \| Respond to of 3209

Something like that. The only rules are that 3 can't be shortest and IV can't overlap with I. But you really need to start with daily charts and build up from there to see if you can find a count on this monthly chart. One negative against this count as seen on the monthly chart is that II and IV look pretty similar in form. The rule of alternation is that waves 2 and 4 should be different types of corrections. A count isn't invalid though if this rule doesn't hold. It's really a guideline only. In fact alternation means that it is likely that II and IV have quite different durations or amplitudes.

To: patron_anejo_por_favor who wrote (1424)	7/21/2008 9:46:47 PM
From: AllansAlias	Read Replies (1) \| Respond to of 3209

What is this "meat and potatoes" thing? It's about entering a trade with two things on your side: 1) An obvious stop 2) With the forceful part of the move pending Part of this is based on Elliott. There is little difference between the impulsive (a 5-waver) move of a 3 wave and the 5-wave move in a 'c' (corrective) wave. Look at these two moves: This shows things from the short side, but it is the same from the long side. It's all about getting on board before the nice '3' or 'c' move, shown above in dark blue. This is why we often label a chart 'A/1', 'B/2', 'C/3'. Often we do not know for sure whether something is correcting in a 3 wave move (A-B-C) or starting a larger 1-2-3-4-5 move. What we can bet on however, is that there is a "brother leg" coming -- the '3' or the 'C'. If is where both scenarios converge -- they share an forceful 3rd move -- the brother to the initial move. This convergence makes it a high odds trade. It makes no difference for "meat and potatoes". The idea is to get on board for the '3/C'.