The Elliott Wave Principle

amitt29 · #21 6th April 2007, 10:55 AM

Quote:

Originally Posted by bvpraveen

Hi,

At this time, I find it difficult to understand the mixed complex corrections. The author had said that these mixed complex corrections mostly occurs in small time frame and they don't occur in larger time frames.

Is it so in the real-life markets? Because I've seen some sample charts in the net, where these mixed complex corrections were present in larger time frames.

Praveen.

The modern investor is smart,the waves are even smarter they adapt and change.Mixed complex correction occured in our fall in may too.Look at the line chart from may 2006 fall the total count is 11 waves giving u a 335,count of a flat but structure of a zigzag.Also called Zigzag flat(refer Neely).

Triangles are more frequent occuring then any correction.Because the indices these days most certainly gapup or gap down.

bvpraveen · #22 6th April 2007, 11:28 AM

Quote:

Originally Posted by amitt29

Due to the flexibility of EW principles,extensions can occur anytime and on any time frame(intraday impacted by news etc)if your count is correct u wud be having prior knowledge of extensions and u can get excellent profits.

As far as I know the news items don't affect the wave structure. They don't alter the basic tenet of wave principle - 5-3 pattern. To the maximum extend, they may just alter the amplitude.

Need clarifications:
1. Is it true that, its the waves structure, that ultimately drives the news (as told by the author.)

2. He too tells that, in order to accommodate the sudden news items, the simple correction which was underway may change from simple to more complex correction.

As you can see these two statements are ambiguous(contrary to each other). Can you please clarify it, Amit?

Praveen.

amitt29 · #23 6th April 2007, 11:47 AM

Quote:

Originally Posted by bvpraveen

As far as I know the news items don't affect the wave structure. They don't alter the basic tenet of wave principle - 5-3 pattern. To the maximum extend, they may just alter the amplitude.

Need clarifications:
1. Is it true that, its the waves structure, that ultimately drives the news (as told by the author.)

2. He too tells that, in order to accommodate the sudden news items, the simple correction which was underway may change from simple to more complex correction.

As you can see these two statements are ambiguous(contrary to each other). Can you please clarify it, Amit?

Praveen.

Yes he is right on both counts.
U will know that a correction is going to happen,the nature of the correction may be altered by sudden news item,it may also trigger a relief rally.

As i said b4 extension can happen intraday driven by sudden news happen,because of channeling etc the Elliottician may be in the know of a potential upmove,so he will be ready.

Glenn Neely had forecasted 9/11 2 weeks before it had happened,he had said a catastrophy might hit USA.

Once ppl get adept on EW,the driving forces of the market become too transparent to see.

And now BVP You will do well to assess things on your own, for one man's food is another man's poison.
Cheers.

bvpraveen · #24 6th April 2007, 12:18 PM

Quote:

Originally Posted by amitt29

Yes he is right on both counts.
U will know that a correction is going to happen,the nature of the correction may be altered by sudden news item,it may also trigger a relief rally.

As i said b4 extension can happen intraday driven by sudden news happen,because of channeling etc the Elliottician may be in the know of a potential upmove,so he will be ready.

Glenn Neely had forecasted 9/11 2 weeks before it had happened,he had said a catastrophy might hit USA.

Once ppl get adept on EW,the driving forces of the market become too transparent to see.

And now BVP You will do well to assess things on your own, for one man's food is another man's poison.
Cheers.

Excellent Amit. Thanks once again for clear clarification.

BTW Caldaro isn't coming to Traderji these days? Do you know any good blogs, websites, etc regarding EW. I'm aware of Caldaro's blog and EW International's video and slides tutorial.

Praveen.

bvpraveen · #25 12th April 2007, 10:14 AM

Hello Amit,

Can you post a chart with high and low of each day plotted in the order of their occurrence, as said in Neely?

The chart may not have counts plotted on it, I just want to see how such a chart looks.

I browsed through net, but couldn't find any sample charts.

Praveen.

sbalram · #26 12th April 2007, 10:22 AM

Do Elliot Wave Theory, Technicals, Fundamentals Guide indian Stock Market ???????? No Wave, No Technicals Forecast That The Indicators Point To Sensex 15000 When The Index Was 3500 Not Very Long Ago.

ssprasad · #27 12th April 2007, 03:49 PM

Quote:

Originally Posted by sbalram

Do Elliot Wave Theory, Technicals, Fundamentals Guide indian Stock Market ???????? No Wave, No Technicals Forecast That The Indicators Point To Sensex 15000 When The Index Was 3500 Not Very Long Ago.

I would say that if the company fundamentals are good, and the market price is cheap, just buy it and sleep. No need to worry.

Technical/ EW analysis are not forecasting tools, these are like a stick which a blind man uses to walk through the street.

sbalram · #28 12th April 2007, 04:42 PM

The Eliiot Waves Are Patterns Of Past Records And History Does Not Frequently Repeat Itself. Therefore, To Claim That It Is A Stick For A Blind Man Would Not Be Correct. The Cane Of The Blind Prevents The Blind From The Pitfalls. Is There Any Reliable Tool To Forecast The Movement Of Stock Marketwhich Can Be Very Near Accuracy, Kindly Inform.

amitt29 · #29 12th April 2007, 07:36 PM

http://www.rediff.com/money/2005/sep/26spec.htm

Care to note that Sensex was around 8k at that time.Surely the projection wud have come around 6k.Also separate traders(long term,short term)from investors.
Investor coming at 3k or 13k depends on valuations on which he is comfortable with.EW assists him in making his entry count.

And i wud ask members to not sound sarcastic about any tool as a blind mans stick etc.I know of countless ppl who are stuck with real estate stocks,were caught in may mayhem etc.And these ppl believed the "India Story"(whatever that is.

In essence stock markets are place to make money,and its more than TA and FA that is at work here,u need to look beyond TA and FA to see whats happening and get on a favourable side.

Cheers.

Spiderman · #30 13th April 2007, 08:07 AM

Hi bvpraveen,
I think amit missed your post. you asked about elliottwave blogs and websites on indian stocks.Here are a few:

VIVEK PATIL icicidirect.com ( free service)
ROHIT SIRIVASTAV indiacharts.com ( free service)
VINAY VERMA sensex-nifty.spaces.live.com (free service)
Tony caldaro caldaroew.spaces.live.com (free service)
B.krishan kumar and
D. sathiyaMoorthy waveriders.in ( paid service)

vivek patil is glen neely follower . tony and rohit have a modified style of wave analysis. Vinay verma and B. krishan kumar standard wave analysts.
If you ask me to rate which one is best. I would rate vinay verma and B krishan kumar ( was earlier businessline wave analyst) as best. waveriders.in is a paid service, therefore Vinay verma Standsout as the best elliottician as far as I know. I dont follow neely therefore dont want to comment on vivek patil . Hope this helps you.

spiderman

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