hi fti,
Thanks, I revisited "The Wave Principle" (1938) to get in sync. In respect to below paragraphs, I reviewed 3 different tf chart of a stock (1hr, 4hrs, 1day). The bid/ask spread is $0.001.
"Using elliot wave count on multiple time frame increments, you will visually find the sd mean.
If you get lots bc waves, means you are charting inactivity time frames. Static zones.
If you charting static zones you are wasting you time.
Is like tracking how many times you sneeze in a minute."
Thanks, I revisited "The Wave Principle" (1938) to get in sync. In respect to below paragraphs, I reviewed 3 different tf chart of a stock (1hr, 4hrs, 1day). The bid/ask spread is $0.001.
"Using elliot wave count on multiple time frame increments, you will visually find the sd mean.
If you get lots bc waves, means you are charting inactivity time frames. Static zones.
If you charting static zones you are wasting you time.
Is like tracking how many times you sneeze in a minute."
- Chart A (1hr): On wave 2, appears to have too much bc waves.
- Wave 2 is in static zone. Also, it is consolidating in rectangle with range ard ~$0.005.
- Wave 1 impulse has much more juicy range at ~$0.02.
- Chart B(4hrs): Less bc waves on wave 2. Wave 3 impulse has very juicy range at $0.03
- Chart C (daily): 1 set of abc waves. Activity picking up recently.
- Static zones prior to February.
I think your concept is,
- We want to capture the "sneeze" / impulse.
- If the sneeze usually occurs on average, twice a day, then plotting it a 1 or 5 minutes time chart is meaningless and non-productive. The chart will show a lot blank space most of the time.
- It may be more productive to plot on say, a 4 hrs/6hrs time frame.
- Thus, select the chart tf which able shows the sneezes with little blank space in between.
- Strategise the MM on the info obtained i.e the avg leg range, the avg retracement time, etc.
- In the 3 charts posted, the best will be the daily to trade at the moment as activities has picked up.
Is the above reasoning & chart in ball park?
By "sd mean", does it refer to the average range of impulse leg?
thank you
THE ALL is MIND; The Universe is Mental