Ah, but your Wave 1 is not correct... That's an expanded flat Wave b. You need to apply ratios. Your Wave iii is only 161.8%.Only very, very, very rarely do I see a Wave 3 less that 176.4%. 161.8% is always a Wave c projection. Therefore, your Wave i - ii - iii is actually Wave a b c and where you have Wave iii should be Wave 1 - then an expanded flat Wave 2. You would have to go down to the 5 min chart to see the lower fractals in the expanded flat Wave C. However, ALWAYS measure and don't just look at the obvious swing highs/lows only. In your...
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Thank you for your patience. What I really like about HEW is that you can confirm your counts through measurements. Attached is my revised chart to see if I am getting closer to the proper structure/counting.
To clarify when measuring fib extensions:
Wave 3 projection is measured from the start of Wave 1 to the end of Wave 1 then down to Wave 2.
Wave 5 projection is measured from the start of Wave 2 to the end of Wave 3 then down to Wave 4.
Thank you for your patience. What I really like about HEW is that you can confirm your counts through measurements. Attached is my revised chart to see if I am getting closer to the proper structure/counting.
To clarify when measuring fib extensions:
Wave 3 projection is measured from the start of Wave 1 to the end of Wave 1 then PROJECTED FROM THE END OF Wave 2.
Wave 5 projection is measured from the start of Wave 1 to the end of Wave 3 then PROJECTED FROM THE END OF WAVE 4...
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Just clarified projections above...
On your count - that first move was a little mixed but I have it as Wave i and not Wave a... However, that is something to watch out for as we approach the coming targets. Keep it in mind as one of those that if things go against your view that you know where it breaks...
No I haven't got the wave structure wrong! I've corrected it!
On your count - that first move was a little mixed but I have it as Wave i and not Wave a... However, that is something to watch out for as we approach the coming targets. Keep it in mind as one of those that if things go against your view that you know where it breaks...
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One last question if you will. In the attachment, comparing the first circled move to the second you mentioned that in the second you have my Wave a as Wave i. The first circle starts with Wave a and Wave b before Wave 1 and the second circle the symmetry is close yet (which makes me think I'm on the same degree), but you chose to make the first move Wave i. What are the factors that make it a Wave i so quickly instead of Wave a like in the first circled area?
One last question if you will. In the attachment, comparing the first circled move to the second you mentioned that in the second you have my Wave a as Wave i. The first circle starts with Wave a and Wave b before Wave 1 and the second circle the symmetry is close yet (which makes me think I'm on the same degree), but you chose to make the first move Wave i. What are the factors that make it a Wave i so quickly instead of Wave a like in the first circled area?
I just put your book on my Christmas list!
Thanks
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Good questions and these first moves can be the most difficult to decipher. I even go into the 1 minute charts to try and work that out but even then it can be tough. There are three main tools - one is ratios, the second alternation and the third "where is this heading and how deep does Wave a / i have to be for the likely target."
That rally from 1.2661 low was a toughie. I cannot recall at which point I felt confident with that being Wave a but when the next high was a 161.8% projection it became clearer. From 1.2876 we had the residue of a bearish move, declining Price Equilibrium Clouds and I had initially thought we'd have a day of tight range trading (which we did in the Wave ii) However, if you look at the 5-minute chart it's quite obvious and down to ratios and alternation, a very clear 3-wave move.
When analysing a chart from scratch this "hidden" information in the larger time frame charts does provide a problem and you have to try and decipher small one-bar kinks. It makes life a lot more difficult and you have to watch the subsequent development closely to make sure it's developing in line with what should happen, both structurally and in terms of the current and higher wave degree targets.
Enjoy the book!
No I haven't got the wave structure wrong! I've corrected it!
On your count - that first move was a little mixed but I have it as Wave i and not Wave a... However, that is something to watch out for as we approach the coming targets. Keep it in mind as one of those that if things go against your view that you know where it breaks...
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Have you developed any ratios for corrections that are helpful which are different from Elliott Wave?
Have you developed any ratios for corrections that are helpful which are different from Elliott Wave?
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Ah! Corrections! They are the bane of life...
Only Wave (iv) can be judged through alternation.
Wave (b) & Wave (ii) can be anywhere between 14.6% and 100%... (except Wave (b) of Wave (iii) that has a max at 90% although that's quite rare - up to 76.4% in general but in most cases up to 50%-58.6% will normally suffice)
Wave (x) (I don't use Prechter's WXYZ radio station invention) needs to be judged in line with the prior Wave (b) (although that can break marginally from time to time) and other support & resistance techniques and through mapping out in the 5 min chart.
Frankly the corrective ratios are not seen at exact %. I tend more to look at other support & resistance techniques and also my Price Equilibrium Cloud helps in some cases. Otherwise it's mapping the progress in the 5 min chart to try and spot each 5-wave leg...
No I haven't got the wave structure wrong! I've corrected it!
Ah! Corrections! They are the bane of life...
Only Wave (iv) can be judged through alternation.
Wave (b) & Wave (ii) can be anywhere between 14.6% and 100%... (except Wave (b) of Wave (iii) that has a max at 90% although that's quite rare - up to 76.4% in general but in most cases up to 50%-58.6% will normally suffice)
Wave (x) (I don't use Prechter's WXYZ radio station invention) needs to be judged in line with the prior Wave (b) (although that can break marginally from time to time) and other support & resistance techniques and through...
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In one of your videos, you mentioned following standard corrections. Do you still replace the EW 5 waves (e.g. 5-3-5 correction) with your HEW 5-3-5 counting? After a degree cycle do you generally see corrections return to the previous Wave 4 like with EW?
In one of your videos, you mentioned following standard corrections. Do you still replace the EW 5 waves (e.g. 5-3-5 correction) with your HEW 5-3-5 counting? After a degree cycle do you generally see corrections return to the previous Wave 4 like with EW?
Are your indicators available some place?
Your book arrived today from Amazon!
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Yes. The very basis of 5-wave moves is that they only form Wave A or Wave C. These form every wave in both impulsive and corrective waves. The internal construction is always counting the Wave (i), (iii) and (v) in 3-waves.
After the end of a Wave (v) the first move is in line with Elliott's guideline - a move back to the span of the Wave (b) of Wave (v). That is as regular as they come... (except they can fail after a Wave (a) of Wave (iii) and the Wave (b) is very shallow - like 14.6%... hint EURUSD...)
My indicators are tied to WorldWideMarkets as I have an agreement with them. I supply them FOC along with the daily support & resistance (see http://harmonicelliottwave.blogspot....-december.html) but I can also provide deals on the reports through the same process - subsidised and possibly free.
I forgot to add... unfortunately the offer is only for non-U.S. residents...
No I haven't got the wave structure wrong! I've corrected it!
Yes. The very basis of 5-wave moves is that they only form Wave A or Wave C. These form every wave in both impulsive and corrective waves. The internal construction is always counting the Wave (i), (iii) and (v) in 3-waves.
After the end of a Wave (v) the first move is in line with Elliott's guideline - a move back to the span of the Wave (b) of Wave (v). That is as regular as they come... (except they can fail after a Wave (a) of Wave (iii) and the Wave (b) is very shallow - like 14.6%... hint EURUSD...)
My indicators are tied to WorldWideMarkets...
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I'm a U.S. resident...
In my limited time of learning HEW, I have been watching the lesser degree of the larger EURUSD move up and picking my entries and exits with stunning results, and I have found your ratios have been very accurate. What I love about it is that the ratios confirm the count, or tell you that you are on the wrong one. After spending the past few years with Elliott Waves HEW is much better! Great work developing it!
In my limited time of learning HEW, I have been watching the lesser degree of the larger EURUSD move up and picking my entries and exits with stunning results, and I have found your ratios have been very accurate. What I love about it is that the ratios confirm the count, or tell you that you are on the wrong one. After spending the past few years with Elliott Waves HEW is much better! Great work developing it!
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Oh well, that issue with the restrictions placed on brokers offering services to U.S. residents is disappointing. I can understand their view but does restrict things somewhat. I would probably provide the indicators on a 6 or 12 month subscription though...
Yes, your point about the ratios confirming the count is exactly what I like. I do warn that it can backfire from time to time as these ratios seem to pop up in alternative counts also. I had forecast an intermediate high at 1.3126 for a minor pullback. It reached there perfectly but then we had that reversal to 1.2880. However, the point there was that it was a Wave iii I was looking at so once the Wave iv limits had been broken there was a much clearer picture of a breakdown. I then caught the 1.2876 bottom in a combination of a range of Wave v projection / Wave (ii) retracement ratios...
As you work with the structure more you'll recognise the impact of certain areas in the structure where Wave a of Wave iii tend to stall, the first moves after a Wave (v) ending, the way to recognise whether there's more likely an impulsive move or corrective etc... There's a lot more logic in this structure.
No I haven't got the wave structure wrong! I've corrected it!
Hey, stryker
this one hour count is making lot of sense to me, so we should see final C wave down now in 5 waves?
one more question is, in most of your labels I see a and b but c is not there, why?
Hey, stryker
this one hour count is making lot of sense to me, so we should see final C wave down now in 5 waves?
one more question is, in most of your labels I see a and b but c is not there, why?
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I didn't put most of the C's in there out of laziness. Just an old habit from my standard Elliott Wave counting…
I think in the near term a Wave C down will unfold.
My HEW take on the Aussie leg down. Looking bullish in the near term...
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I'm not working right now but I'd check your Wave a of Wave iii... just look at the first leg down and you'll see what looks to be a 3-wave whip and then consider a minimum 176.4% projection...
No I haven't got the wave structure wrong! I've corrected it!
