Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: e2thex who wrote (150)	4/30/2020 10:21:15 AM
From: Qone0	5 Recommendations Recommended By ajtj99 bull_dozer e2thex kimberley toccodolce Respond to of 97958

The difference between Elliot wave and harmonics is that Elliot wave is built on a 8 wave pattern. 5 with trend and 3 against. In harmonics there are only 3 waves AB=CD and the various CD extensions fibs. thunderbolt pattern. It's the foundation of harmonics, there is a AB=CD in the right side of every 5 point harmonic pattern. People who practice Elliot wave usually count a wave that doesn't fib at least .382 to come up with 5 waves. It's highly subjective, where harmonics draws a line at a fib that's not subjective. It either works or it doesn't. Even Prechter has observed that 3 wave dominate the market. 1.6 The New Elliott Wave Principle – What is Changing in Today’s Market The biggest change in today’s market compared to the one in 1930s is in the definition of a trend and counter-trend move. We have four major classes of market: Stock market, forex, commodities, and bonds. The Elliott Wave Theory was originally derived from the observation of the stock market (i.e. Dow Theory), but certain markets such as forex exhibit more of a ranging market. In today’s market, 5 waves move still happen in the market, but our years of observation suggest that a 3 waves move happens more frequently in the market than a 5 waves move. In addition, market can keep moving in a corrective structure in the same direction. In other words, the market can trend in a corrective structure; it keeps moving in the sequence of 3 waves, getting a pullback, then continue the same direction again in a 3 waves corrective move. Thus, we believe in today’s market, trends do not have to be in 5 waves and trends can unfold in 3 waves. It’s therefore important not to force everything in 5 waves when trying to find the trend and label the chart. elliottwave-forecast.com