Intraday Waves/cycles

[TA03]

Hello,

I am new to the board and hope that the more experienced traders can help me with my question.

I have come across Elliot wave and found it very intimidating but I am sure that if I can understand what the definition oa single wave is I should understand it better so;

"What is a single wave or cycle, what are the charectristics, how do you recognise the biginning/end or high/low of one?".

I should be grateful if anybody could give me some examples as well.

Thank you very much.

 

[Skimbleshanks]

The only Elliott Wave stuff I use is the 5 wave.

Wave 1 up, wave 2 pullback, wave 3 up, wave 4 pullback, wave 5 up. And the same for going down. Wave 4 is usually longer, deeper and messier than wave 2.

A three wave correction (ABC) is good to know about too, and these can be traded as a measured move, whereby the length of wave A from top to bottom is often equal to wave C from top to bottom.

That's all I concern myself with when it comes to Elliott Waves - keeping it simple is the way I work. I'll try and post a few examples after the market closes today, if I remember!

And welcome to T2W by the way.

 

[fudgestain]

TAO3? Trading At the Open every 3rd day .. just being silly really.

However, TAO3, if I may so suggest, start studying the ranges and size of gyrations of the market you propose trading (ie Dow). You may then catch the excitement of what can be done.

I leave the 'bicycles and sea waves' to others .. but your choice entirely.

Enjoy T2W!