Principle Five (P5) The 5 Wave Correction

[snorm]

Wow. When would that be available?

I really hope before the end of this decade; possibly before the end of the year

[mosah]

Hi Friends,
I want to buy the eWave indicator at the discounted price but I can't find the the password.
Please help
Regards
momo

[immy]

its right under the Elliott Wave section under advanced strategies

http://www.itradeaims.net/forum/viewforum.php?f=61

[arjanbg]

I was looking on internet for elliot waves count for a better understanding of the P5 principle. I came up the following picture. So this P5 is basically a big divergence. And is the subcount of a significant lower timeframe W1-W5 count within the W4 and the A-B-C for the W5.

I was thinking that with fibo timezones (W1-W3 = W4 timewise) the you can determine the end of W5. Is this useful for P5. Because we can just set this automatic on the Ewaves indicator.

Also was wondering if there are any updates for the Ewave indicator of SNORM with the divergence.

[snorm]

Yes, basically arjangbg ... but how to make a simple thing look complicated: show Elliott Wave Minute/Minuette/Subminuette counts ?
The C of the ABC diverging with A is a typical P5; a simple W2 or W4

You can use the Timezone function but it's not something that I use - I've not found it to be particularly useful and it's too much info on the charts for my liking.

And ... yes, there is a new version of eWaves, currently as a Beta version with a limited release.

:-B

[arjanbg]

Yes, basically arjangbg ... but how to make a simple thing look complicated: show Elliott Wave Minute/Minuette/Subminuette counts ?
The C of the ABC diverging with A is a typical P5; a simple W2 or W4

You can use the Timezone function but it's not something that I use - I've not found it to be particularly useful and it's too much info on the charts for my liking.

And ... yes, there is a new version of eWaves, currently as a Beta version with a limited release.

:-B

Thanks for the comment. Your eWaves and Fractal Fib Multi v2 indicator are already legendary . It is good to know that there are already upgraded versions.

I am still in the process of trying to make things simpeler for myself. It is a great simple idea with P5 to just with a trendline to avoid W4 and at the start of W5. I just wanted to know if I grasped the idea WHY P5 works. It is good for my belief and to know that I can go a timeframe lower and confirm if P5 can be applied. It is also great to spot on the time frame itself C is diverging with A for a typical P5.

Ps I came to the same conclusion about the timezones

[immy]

I was looking on internet for elliot waves count for a better understanding of the P5 principle. I came up the following picture. So this P5 is basically a big divergence. And is the subcount of a significant lower timeframe W1-W5 count within the W4 and the A-B-C for the W5.

I was thinking that with fibo timezones (W1-W3 = W4 timewise) the you can determine the end of W5. Is this useful for P5. Because we can just set this automatic on the Ewaves indicator.

Also was wondering if there are any updates for the Ewave indicator of SNORM with the divergence.

You lost me there in the second line mate...
here is my interpretation of Elliott wave

Peak then cross of ZL and Peak again with divergence = Elliott Wave

[arjanbg]

You lost me there in the second line mate...
here is my interpretation of Elliott wave

Peak then cross of ZL and Peak again with divergence = Elliott Wave[/quote]

Thanks for your simple spot on answer \m/

[arjanbg]

I noticed later yesterday I couldn t let go. Of sharing my way on thinking on the previous post. This doesnt make me right, but can only be concluded that I pay too much attention on Elliot waves count instead of the 3 rules of AIMS. Therefore I miss the W1-W2 setups.

Significant timeframe lower, than you want to trade:
(Grounded) Peak then cross of ZL and Peak again with divergence = Elliott Wave
(Ungrounded) W1-W5 occurs, this will be time to see ABC.

Timeframe you want to
(Grounded) Peak then cross of ZL, now momentum is near the ZL of AO
(Ungrounded) W1-W4 occurs, setup for W5. For P5 we can draw a trendline and this will show divergence between the price and AO. The setup for P5 is there if price breaks the tendline.

So my thinking was that what is the elliot wave count. ABC on a significant lower timeframe will create the W5 on a higher timeframe.

[immy]

I noticed later yesterday I couldn t let go. Of sharing my way on thinking on the previous post. This doesnt make me right, but can only be concluded that I pay too much attention on Elliot waves count instead of the 3 rules of AIMS. Therefore I miss the W1-W2 setups.

Significant timeframe lower, than you want to trade:
(Grounded) Peak then cross of ZL and Peak again with divergence = Elliott Wave
(Ungrounded) W1-W5 occurs, this will be time to see ABC.

Timeframe you want to
(Grounded) Peak then cross of ZL, now momentum is near the ZL of AO
(Ungrounded) W1-W4 occurs, setup for W5. For P5 we can draw a trendline and this will show divergence between the price and AO. The setup for P5 is there if price breaks the tendline.

So my thinking was that what is the elliot wave count. ABC on a significant lower timeframe will create the W5 on a higher timeframe.

With due respect, I'd like to state that ...
its still a bit too confusing for me. I just stick to simple flow chart analysis.
That's why I suggested you watch those 2 or 3 videos and that is my recommendation to anyone. Is there a dot, is gator sleeping, is purple correct, is the box size ok, are there are levels to the left. etc etc... make it simple objective and then after you've created setup 1 or 2 you cannot apply further things to it. Once it says take the trade, you take the trade. thats it.