Dow and FTSE P&F Charts

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mags_g

Member
Dow and Ftse P&F Charts

Decision time soon for the Dow / Ftse in relation to their respective point and figure charts. I personally feel they will break up to start the 'C' wave of this large correction. Whichever way it goes, we must follow and not lead.
 

LoneWolf

Newbie
Are there any sites that graph point & figure charts for free?

Don't mind if it's indexes, US shares or UK shares.

Ta

Wolfie
 

mags_g

Member
I should imagine there are some sites offering P&F charts free or on some sort of trial basis but like anything concerned with the internet, it is too easy to become over loaded with information. (Especially in this game). Paralysis by analysis is a phrase I like as it reminds me to keep it simple. Which is basically what the P&F chart is. A simple system of charting the trend.

The following address gives a good search engine for what you seek: -

http://www.citybull.com/cgi-bin/tseek/tsearch.cgi
 

mags_g

Member
Looks like the 'C' wave has started on the FTSE. I've stuck a toe in the water looking for 100 pts at 3950.
 

mags_g

Member
Stuck a toe in as well on the Dow. Looking for 200 pts at 8500.
 

mags_g

Member
Looking good. There is more scope on the Dow. Perhaps 400 pts to be had. (Stop loss engaged for both Dow and Ftse).
 

mags_g

Member
3900 & 8500 targets met this morning. A nice few 'K' banked. Still feel there is more left in the tank but it will soon become 'frothy'. As always, got to be as clinical as ever and take the money. Now for the wait until the froth as settled. The old methods are always the best - and lesss stressful. Bit of sun bathing today I reckon, nice and warm here in Essex.
 

ivorm

Well-known member
mags_g said:
Looks like the 'C' wave has started on the FTSE. I've stuck a toe in the water looking for 100 pts at 3950.

I'm currently looking into this 'wave' stuff and trying to make sense of it. Is there any chance you could post a chart showing the waves on the FTSE so that I can see what you mean ?

TIA

Regards,
 

Lempicka

Junior member
TIA,

Here's an e wave analysis fromm a few weeks ago, the only thing that will invalidate it is a move above the december high of 4200

It shows a long term forecast magnified with a short term forecast

http://disc.server.com/discussion.cgi?id=168801;article=1374

I'm not saying it will be correct although it has been to now, if the situation changes it simply means the labelling is incorrect.
Most peeps fail to understand ewaves because analysis can be incorrect incorrect, when in fact ewave theory is never incorrect (only the students interpretation is incorrect). It is often possible to label the market position in a number of different ways at the same time, it is the tech indicators that help with choosing the correct high probability labelling.

Ewaves is all about probability not definites

Tammy
 

Bigbusiness

Experienced member
"...when in fact ewave theory is never incorrect (only the students interpretation is incorrect). "

Reminds me of Eric Morcambe, playing all the right notes, but not necessarily in the right order.
 
With due respect I think our friend Lempicka here has just highlighted the reason why 90% of traders don't, nor ever will, use Elliott Wave analysis. He has just given us a prediction and spent the next 10 lines covering his back about it's not always right, and it might be wrong and if it is wrong it's my fault and not the omnipotent waves. C'mon, stick your neck out.
How can one trade with if's, but's and maybe's. I put my head on the block last week, check the other threads, I said the index would DEFINITELY rise from 7962, no if's, but's, it was a DEFINITE. And inevitably it did.
You see this is what I tell my students. Elliot waves are 100% correct 20-30% of the time. When it is not you must use and learn 'other techniques', which are more relevant for that trading environment.
That's the problem with people like Lempicka who rely solely on EW wave analysis - they are in limbo 80% of the time.

PS - If your pigs ain't flying yet your feeding them the wrong stuff.
Pigs can fly you just don't know how to make em do it. See what I mean?
 

Lempicka

Junior member
Well if u r foolish enough to believe in market certainties then i am unable to help u. I go with probabilities but i'm intelligent enough to realise there can be 99.9% certainty but never 100% certainty in the market, i have learnt to develop a healthy respect for it. Definites is complacent and foolish in trading

We can all point score (the diagram highlighted the market would fall to 3570 and rise to 4000) but it was not definite it was just the likely scenario, the high probability count.

And i still fail to understand how with the market on a piece of string for u over the last two weeks u r still underwater in the competition, as i said it takes a special kind of inability

I guess you must have missed

", it is the tech indicators that help with choosing the correct high probability labelling." and the H&S in the diagram

if u think anyone using ewaves uses them without a good understanding of chart patterns, technical indicators, candle theory, channelling theory etc then u really do have no or little understanding of wave theory.

The whole basis of it demands it only works consistently in conjunction with other analysis of whatever kind.

Tammy
 
Firstly, I have already explained to you that I did not get the fair prices on my 2 longs and short cover as has been confirmed by the share comp. administrator. This is the second time I have told you this. Shall I recall the post where he said he would amend this??? If it is corrected you will find I am 3,000 squids up and would be about 15th in the comp. I also explained that I have only ever taken part in 2 other comps both finishing higher than your good self, so refering to the comp. does you no favours. One is really in trouble when one has to revert to inaccuracies.

Your quote 'Well if u r foolish enough to believe in market certainties' really made me laugh. This is what I refer to when I talk about sheep. For you there are never certainties. For me there are rare certainties. You cannot see these certainties because you do not understand how the shepherd works.

And as for your understanding of EW waves, well my friend you are simply WRONG. Re-read your bible and you will see that EW believers are meant to believe that the world is governed by a natural law, reflected in the markets. Hence, Ew beleivers are fatalists, believers in destiny which is controlled by this natural law. Just as I am now. Hence, Sept 11th was destined to be, even on Sept 11th 1845. The markets were destined to fall to 8,200 ABSOLUTELY, UNEVIQUIVACLLY 1000%, Sept 11th just took it there quicker. Re-read Chapter 4 my friend.

In conclusion, I am absolutely aware that E-waves need the added use of other tech indicators. What I was saying was that 70% of the time ONE MUST USE OTHER TECHNIQUES WHICH ARE MORE RELEVANT TO THE TRADING ENVIRONMENT. Ones which I am convinced you are now aware of.
The ones you highlighted cannot be used solely to make decisions, maybe apart from channelling which is a schoolboy approach to trading. It also shows Lempicka that you are indeed one of the herd. Every Tom, Dick and Harry uses the same ol' pieces of tech analysis, not realising 90% of the time they do not work.

Those that feel comfortable in a crowd often get their pockets picked.
 

mags_g

Member
Eventful day I see. Glad I closed my position's this morning & spent the day outside. Dow 8500 this morning, now 8300. Ftse 3900 this morning, now 3850. I'm not always that good with my timing. Such a lovely day too. Looking at the present situation, it appears the Dow is in wave 4 of 5 in the terminal 'C' wave of this correction. If true, then we will get one more up wave to complete the 'C' wave terminal correction. But as I said earlier, its starting to get 'frothy'. The Nazdaq 100 is holding while the Dow falls. I still expect the Dow to bounce back for the final 5th wave up to clear 8500 but I'm not in for the ride. I'll wait till the 'froth' dies down and the next direction to start. Which I believe will be down. Whichever way it goes, we must follow and not lead.
 

mags_g

Member
ivorm..........I would post my ftse chart on here, but if I do, it will only lead to lots of unnecessary hassle. I'm not into explaining my view as that is all it is......my view. Sometimes right, sometimes wrong, but hopefully more right than wrong.

(Plus I do not know how to post my graph paper on to the PC, I use the old method of paper, pencil & ruler !).
 
''In conclusion, I am absolutely aware that E-waves need the added use of other tech indicators. What I was saying was that 70% of the time ONE MUST USE OTHER TECHNIQUES WHICH ARE MORE RELEVANT TO THE TRADING ENVIRONMENT. Ones which I am convinced you are now aware of.''

Bit of a typo on my last post. Should read 'Ones which I am convinced you are NOT aware of.'

Small, but very important.

Toodle pip.
 

mags_g

Member
Hmmm, is this the start of the final 5th wave up, within the 'C' wave of the correction since the start of the war on the Dow ? Could well be. If I was to predict where it would go I would say to clear 8500, as I said earlier. But also, as I said earlier, I'm not in for the ride. To those of you who are, good luck & happy easter to all.

Bo Peep (ShepHARDess) Ha ha ha !
 
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