Elliot Wave 3 Search

[Philby]

Given that an Elliot Wave 3 is known to have the greatest price change, why does the GET predefined search section not have a search for Wave 2 so that you can be set up ready for Wave 3.

When I ran a Wave 3 search all of the equities identified were at the end of Wave 3 ready to go into Wave 4 - is this correct or am I doing something wrong ?

[MR]

I cannot answer for sure why we do not include W2 as a search parameter, but I strongly suspect adding it will only create more opportunity for the trader to fail even more? The AGET approach has always been to focus in on what has greater odds for success.

Type 1 trade setups are the highest probability trades where we basically are trying to trade with the trend,

Type 2 setups are the closest thing we have to trying to pick bottoms and tops. Type 2's are when we track the Wave 5 for the higher probability buy or sells. In a sense you are finding often times the pattern before even a Wave 1 and 2 are labeled.

We don't search for Wave 1 and 2's because they are very low probablity setups. The dynamics of Wave 1 and 2 rapidly changing wave counts can be nasty and very hard to trade. Even the most skilled traders have a harder time anticipating how to handle trade setups. Defining real risk/rewards in the early stages of a new major sequence is extremely tricky to trade and time.

If you want to identify stocks at the earlier stages of a Wave 3, try adding other variables to your search that help define breakout type parameters as well, such as an XTL, MA breakout, things like that could help you improve your search results. The XTL is a tool that was primarily designed to help us better anticipate and even help time the early stages of a Wave 3 early in progress. Just keep experimenting with different settings, other variables until you gaint results more to your liking.

[Philby]

Marc,

Thanks for the response, I have been setting up searches for wave four patterns and watching them unfold - I suppose I was a little impatient to skip the watching period and get to the end of a wave 2 ready for the stronger uptake in wave 3.

Silly me - what was I thinking - homework first.

One other question - was I right in assuming that the predefined searches in GET ie: Wave 4, will find the end of a wave 4 pattern ?

Most of the searches I have done seem to turn up wave 4's which are substantially over or at least near their predicted target wave 4 price.