indiTraders - Forum for the Active Indian Trader  

Go Back   indiTraders - Forum for the Active Indian Trader > Technical > Technical Analysis

Technical Analysis The technical arena of indiTraders

DPonline
Reply
 
Bookmark and Share LinkBack (9) Thread Tools Display Modes
  #1 (permalink)  
Old 24-03-2009, 08:22 PM
uasish's Avatar
uasish uasish is offline
Super Moderator
 
Join Date: Mar 2009
Location: Kolkata,India.
Posts: 7,280
Thanks: 8,742
Thanked 14,499 Times in 5,106 Posts
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
Default What are to be taken from EW Method & What are to be Discarded

What are to be taken from EW Method & What are to be Discarded:=

This explains the intent of this Thread.
As i find there are many knowledgable members here who have devoted time to Learn this way of 'Approaching Price',i would like them to enlighten us in an Objective fashion about what are good & bad in this type of Approach.
As a Technician which tools i can use from this 'Tool Box' ,when needed ,plz guide us.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 5 Users Say Thank You to uasish For This Useful Post:
  #2 (permalink)  
Old 24-03-2009, 08:52 PM
Darshiit's Avatar
Darshiit Darshiit is offline
indiTraders VIP
 
Join Date: Mar 2009
Posts: 976
Thanks: 9,152
Thanked 7,239 Times in 1,871 Posts
Darshiit has a reputation beyond reputeDarshiit has a reputation beyond repute
Darshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond reputeDarshiit has a reputation beyond repute
Default

Never Practiced EW so much other then finding WolfWaves. That is I personally consider another form of Elliot Wave only.

But other then Wolf Waves. I know nothing about EW. Interested in knowing when Wave5 will start .

Please seniors Guide us.

Cheers,
Darsh
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 3 Users Say Thank You to Darshiit For This Useful Post:
  #3 (permalink)  
Old 24-03-2009, 09:38 PM
Saurabh's Avatar
Saurabh Saurabh is offline
♫ Unconfined ♫
 
Join Date: Mar 2009
Location: Indiaaah!
Posts: 618
Thanks: 1,200
Thanked 2,051 Times in 549 Posts
Saurabh has disabled reputation
Default

Taken:
1. Fractal nature of all chart patterns
2. Sentiment swings from panic to euphoria
3. Trendiness/congestion implied from the strength of internal retracements
4. Confluence levels

Discarded:
ANALYSIS!
__________________
Asatoma Sat Gamaya...
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 5 Users Say Thank You to Saurabh For This Useful Post:
  #4 (permalink)  
Old 24-03-2009, 10:02 PM
uasish's Avatar
uasish uasish is offline
Super Moderator
 
Join Date: Mar 2009
Location: Kolkata,India.
Posts: 7,280
Thanks: 8,742
Thanked 14,499 Times in 5,106 Posts
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
Default

Saurabh,

It seems you have dealt the subject quite well.Would you plz take the initiative to elaborate a little on all the 4 points ,which you have taken in your Tool Box from EW.
Thks and looking forward to learn from you.

Asish
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 2 Users Say Thank You to uasish For This Useful Post:
  #5 (permalink)  
Old 24-03-2009, 10:08 PM
hari09omkar hari09omkar is offline
indiTraders VIP
 
Join Date: Mar 2009
Posts: 425
Thanks: 917
Thanked 912 Times in 338 Posts
hari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of lighthari09omkar is a glorious beacon of light
Default

My take is almost similar to this:

Quote:
Now if I may be permitted,I will state why I never use them.It is simple - they don't work for me.I can never figure out which wave I am supposed to be in.Is this the fifth wave of a larger third wave,which is nestled in an even larger 1st wave? I don't know and I don't want to know! It beats me how anyone can make sense out of all that.What is the biggest wave ever, and when did it start? This wave that I am seeing now,is it the millionth wave within a wave since all wave started? Where does it all end?

I am sure if I could ever figure out these "Elliot" waves,I could make a lot more money than I do now.Why? Because I wouldn't have to trade anymore.I could make a fotune with a news letter telling everyone else what they mean.Who could ever prove me wrong? In fact,I wouldn't have to even understand "Elliot" waves to make a fortune - I could just pretend to understand them.I am sure no one would ever know the difference.I am not even able to fade wave traders.Why? Beacuse not enough of them agree on which wave they are in to cause any real effect on the markets.

- Joe Ross

Last edited by hari09omkar; 24-03-2009 at 10:15 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 5 Users Say Thank You to hari09omkar For This Useful Post:
  #6 (permalink)  
Old 24-03-2009, 10:10 PM
JJ's Avatar
JJ JJ is offline
.
 
Join Date: Mar 2009
Posts: 6,978
Thanks: 20,044
Thanked 28,186 Times in 6,702 Posts
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
Default

Putting the market into 'modes of behavior' is one useful aspect from EW.
__________________
In a fight between you and the markets, back the markets.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 4 Users Say Thank You to JJ For This Useful Post:
  #7 (permalink)  
Old 24-03-2009, 10:13 PM
Saurabh's Avatar
Saurabh Saurabh is offline
♫ Unconfined ♫
 
Join Date: Mar 2009
Location: Indiaaah!
Posts: 618
Thanks: 1,200
Thanked 2,051 Times in 549 Posts
Saurabh has disabled reputation
Default

I believe there are better guys than me here, particularly expecting CV's comment

Learned EW in my first year of trading, as such it had good influence over approaching price.

1. The first thing noticed was the fractal nature of numbering waves, impulse inside impulse and so on. Deduced that most chart patterns like triangles, double tops, congestion zones etc. are repetitive when we jump from one time frame to another. This had imp influence always in framing strategy... going thru multiple time frames.
2. Read from Ellioticains that euphoria is a very good indication for end of upmove. This again is applicable from weekly to 5 min frame. Intraday squeezes signify just when the public swings to ONE mood they are trapped in losses.

For next two points deferring to CV. Go through his blog, a good setup there

About discarding.. the thing hate most is 'analysis'. Man, was feeling like a journalist after making three posts on a single candlestick the other day
__________________
Asatoma Sat Gamaya...

Last edited by Saurabh; 24-03-2009 at 10:38 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 8 Users Say Thank You to Saurabh For This Useful Post:
  #8 (permalink)  
Old 24-03-2009, 10:24 PM
uasish's Avatar
uasish uasish is offline
Super Moderator
 
Join Date: Mar 2009
Location: Kolkata,India.
Posts: 7,280
Thanks: 8,742
Thanked 14,499 Times in 5,106 Posts
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
uasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond reputeuasish has a reputation beyond repute
Default

Originally Posted by hari09omkar View Post
My take is almost similar to this:



- Joe Ross

World Wide there are many disbeliever of this EW,nothing new.In fact i use few things from EW but never a trade decision was ever made based ONLY on EW.

We all know about a simple mov.avg ,it's unworthy part due to Lag.

Call any old carpenter to a new barren / vacant flat,instruct him about the furnitures to be made,the Wall to Wall cupboard,the dinning table,etc. he will come to our place with a small bag containing only 5-7 tools and after 1 month leave with that bag only after erecting and making all the furnitures fixtures as instucted .For making these things he knows exactly which tools to apply when.

As a Technician i should explore the possibilities of getting any effective tool , IF ANY , in this Methodology.

A SMA can be used as a trailing Stop ,when we cant find any suitable Fib/Supp/Res becoz of it's LAG ONLY.

Last edited by uasish; 24-03-2009 at 10:26 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 4 Users Say Thank You to uasish For This Useful Post:
  #9 (permalink)  
Old 24-03-2009, 10:38 PM
JJ's Avatar
JJ JJ is offline
.
 
Join Date: Mar 2009
Posts: 6,978
Thanks: 20,044
Thanked 28,186 Times in 6,702 Posts
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
Default

Even though I have discarded using EW as a method, studying its varying aspects has helped me to understand the "Vertical Aspect" of the market. Later on after studying MP - which is the 'Horizontal Aspect" has given a well rounded understanding of market behavior.
__________________
In a fight between you and the markets, back the markets.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 8 Users Say Thank You to JJ For This Useful Post:
  #10 (permalink)  
Old 24-03-2009, 10:41 PM
JJ's Avatar
JJ JJ is offline
.
 
Join Date: Mar 2009
Posts: 6,978
Thanks: 20,044
Thanked 28,186 Times in 6,702 Posts
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
JJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond reputeJJ has a reputation beyond repute
Default

Scenario Thinking is another plus point.

__________________
In a fight between you and the markets, back the markets.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following 8 Users Say Thank You to JJ For This Useful Post:
Reply

indiTraders - Forum for the Active Indian Trader > Technical > Technical Analysis


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are On
Refbacks are On


LinkBacks (?)
LinkBack to this Thread: http://www.inditraders.com/technical-analysis/337-what-taken-ew-method-what-discarded.html
Posted By For Type Date
Elliott Wave Rules | The New Elliott Wave Rule This thread Refback 13-02-2012 01:43 PM
2010 October | The New Elliott Wave Rule This thread Refback 23-01-2012 10:02 PM
Elliott Wave Rules Upgrade This thread Refback 20-01-2012 03:02 PM
Elliott Wave | The New Elliott Wave Rule This thread Refback 03-01-2012 01:15 AM
About Me This thread Refback 23-12-2011 08:32 PM
Diagrams This thread Refback 07-12-2011 01:09 AM
Diagrams This thread Refback 07-12-2011 01:09 AM
Elliott Wave Theory Not a Theory This thread Refback 03-12-2011 03:17 PM
The New Elliott Wave Rule | Breakthrough in Elliott Wave Rules This thread Refback 04-11-2011 08:52 AM

DPonline

All times are GMT +5.5. The time now is 10:25 AM.


vBulletin Copyright by vBulletin

Content Relevant URLs by vBSEO 3.3.2