W5 Completion

[Momentum]

I always believed you needed divergence between the top of W5 and the Osc for it to be a true W5.

Am I wrong or is what I am seing a W3?

Tx

[soylent]

True... W5 < W3 for proper setup (type 2)...

Looks like you may get a re-label as wave 3.

The angle on that price looks like blowoff and you'll probably get a 'sympathy' wave / double top that will be like a 4/5. Then you can look for type 2? It's certainly in a precarious position to make an good risk/reward...

[Momentum]

Good call, it became a wave 3 and I caught the 5 :-)

[Momentum]

Good call, it became a wave 3 and I caught the 5 :-)

[ragic]

Momentum

Any chance of a follow-up chart, showing how it progressed. Also, what timebase is the charts.
thx

[Momentum]

ET H4-DT 3 Minute

The miss count turned out to be a real boon as I was looking for the pullback.

[soylent]

Thanks for the chart update!

One of the problems I've found in AGET is 'false breakout's. That chart illustrates it amazingly well...

You would have had 3-4 'stop's hit if you took that trade because it kept breaking the 6/4 and then falling further... (I'm guessing -- from looking at it...)

What triggered your BUY on the wave 5? How did you decide this was the 'real deal'?

Thanks!

-c

[Momentum]

I'm afraid I use some CCI techniques to get in.

[soylent]

CCI: Smart. I should have known looking @ your chart!

I've been working on combining CCI w/ Waves. I haven't decided if it's beneficial or detrimental, yet.

I ran through backtesting all weekend on 3-min NQ's manually setting / buys/sells on CCI breaks and looking for the wave completion. I suppose I could sell the hooks even if the wave says it wants to complete but I was trying to use the CCI to time the entry and leave it long (short).

(Though, I also think NQ is the most evil of indexes in how it knocks you out of trades.)

[Momentum]

Try trading the DAX if you want pain :-)

[minx]

CCI's

What does CCI stand for?
I know what you mean about the DAX, Trying to trade it on 3 mins and never bloody breaks the right way

[soylent]

cci = commodity channel index