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Is there any way to see if the Elliot wave count is about to be relabeled from a 12345 wave sequence to an ABC wave sequence? Two ABC wave corrections after another is not common I know, I've traded Elliot wave for 5 years now but besides the Elliot oscillator not confirming the wave label patterns and a failed ellipse, is there any other helpful way to see beforehand?
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Re: Wave relabeling
Originally posted by theplumber
Is there any way to see if the Elliot wave count is about to be relabeled from a 12345 wave sequence to an ABC wave sequence? Two ABC wave corrections after another is not common I know, I've traded Elliot wave for 5 years now but besides the Elliot oscillator not confirming the wave label patterns and a failed ellipse, is there any other helpful way to see beforehand?
Hi! Your question really caught my attention. I did not initially try to answer it because it required a great deal of reflection on my part. It turned out to be not so easy to answer.
I spent a good bit of time thinking of ideas to see if they could help you. If you wish to see this information, go to the following link where I posted a detailed reply:
Marc -
I "get" it now
I understand how the software works now. The first two waves are so hard to predict (which I agree) that they are very short and the third wave labeling is the key. The observation therefore is to watch different setting for the waves (mine are too agressive) and ,to me more important, watch the OSC. as it gives a statistical (most of the time 90%) signature to the possibilty of wave three actually being the C wave of a correction.Just takes some getting used to.Comment
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