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Categories:Elliott Wave Analysis
I have used a combination of Elliott/Frost & Prechter/Neely for many years. Throughout that time I noticed there was something off with that. 3-wave patterns where 5-wave patterns should be, missing 4th and 5th waves, what I thought were 4th waves actually being part of higher degree corrections... Thus a measure of creativity has been necessary to make traditional Elliott theory fit what was happening. I recently studied Harmonic wave theory per Ian Copsey where 1-3-5 of impulse waves are a-b-c instead of 1-2-3-4-5. That seems to be the answer but I am still a work in progress in figuring out if that can be used in real time. So my counts may be a mess until I determine if that is the answer.
The great mistake is to anticipate the outcome of the engagement; you ought not to be thinking of whether it ends in victory or in defeat. Let nature take its course and your tools will strike at the right moment.
Disclaimer: this is all just my opinion and I present these charts in hopes they may help others to learn something. Make your own decisions and never trade anything based on my opinions, interpretations, and biases whatever they may be.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world.
Will the 30-year decline in the dollar continue? If so how might that affect oil, gold and other commodities?
'As with most market cycles, gold?s 8-year cycle is measured bottom-to-bottom. But there is more to it than just that 8-year period between major bottoms. It typically sees a 3-year upward phase, which is where most of the big gains are seen. Then the 5-year downward phase actually has a 3-wave process of going down.'
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