Tomi's friendly market journal

[arjanbg]

In the elliot waves there is a principle of alternation that when W2 is simple, then W4 will be complex. Usually we will see a zizag shape in W2 with a deep retracement (relative to W4) and a triangle or flat with the W4. W4 if flat and most of the time goes sideways, will retrace not that much sometimes just 23,8 fibo level. When a triangle shape is made it most of the time will be between 38 or 50 fibo level. I like reading your journal it is really clear and a great elliot wave count

[Tomi]

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[arjanbg]

The trouble of elliot waves is indeed that everyone can agree after the price has moved, for us as traders that is too late. Your absolutly correct that I should be more focused on the rules instead of the count.

Your absolutly correct that I asked about the W1 and W2 formation. Thanks for taking the time to respond to my question. To look for a peak high peak on AO (3 count on the SNORM ewave) and then look for retracement levels is a better way of doing things. I found a file of Bill Williams which says to following. Unfortunally i wasn t yet able to spot the 1-2 formation. Ur tip would definitly help.

[Tomi]

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[Tomi]

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[immy]

welcome back Tomi... i was missing your updates... hope you had a good xmas and happy new year buddy... lets do it a gain... meanwhile have a good weekend

[Tomi]

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[Tomi]

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[immy]

No matter how spot on analysis can be, there are losses and break-evens. Today break-even even though every bar told their own unique story and I was listening. Good experience still!

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If you were to apply all this cumulative chart experience to a bunch of D1 or H4 charts, you'll make a lot more lovely and more profitable trades. Your accuracy will be extremely high and you will remember this message with a smile... (in time/space)

cheers [lovely trading as always]

[Tomi]

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