Learn Forex Trading Online with a Forex Pro
A A A
Avatar
Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

Login form protected by Login LockDown.


Lost password?
sp_Feed
Topic Rating: 0 Topic Rating: 0 Topic Rating: 0 Topic Rating: 0 Topic Rating: 0 Topic Rating: 0 (0 votes) 
sp_TopicIcon
Come to the dark side wave.
When is the wave considered to have turned?
Avatar
Pepe le Pip
Advanced
Free Members

VIP Members
Forum Posts: 58
CubePoints $212
Member Since:
January 24, 2014
sp_UserOfflineSmall Offline
1
January 29, 2014 - 03:49
sp_Permalink sp_Print
0

Hello Theo,

On page 33 of the e-book, you write, "Shorter-term waves being used to confirm the turn of Longer-term waves." Is the larger term/scale wave only considered potentially turned until such time as it reaches its relative magnitude objective, ie, the wave has reached a magnitude comparable to other waves of the same scale, or is it considered turned when the market structure (3PT, Trend Continuation Wave, etc.) has played out?

The reason I ask is because the '3PT' and later the 'Trend Continuation Wave' is being played against the previous large scale down wave. When the wave is classified as 'turned', then the trade structures will be considered in sync' with the trend and you could then be justified in shooting for a more ambitious profit objective.

** Register Here for Free Membership to see this image/link **

Pepe.

Without you (price action), I am not worth a [s]cent.

Avatar
Theo Patsios
UK
Admin
Forum Posts: 669
CubePoints $8001983
Member Since:
February 26, 2011
sp_UserOfflineSmall Offline
2
January 29, 2014 - 05:33
sp_Permalink sp_Print
0

Hey Pepe,

The 3PT and the trend continuation patterns make the turn of the longer term wave extremely probable, since you want to trade the longer term wave then waiting for it to move a relative amount would mean being too late. You want to use the price action of the shorter term wave to enable you to predict the turn of the longer term wave before it happens.

So in short; I consider the swing you have marked out as 'most probably turned' on the shorter term 3PT, in this game of tipping probability in your favor it is an amount of evidence that I feel sufficient enough to assume the longer term waves turn.

Theo

Forum Timezone: America/Los_Angeles

Most Users Ever Online: 50

Currently Online:
4 Guest(s)

Currently Browsing this Page:
1 Guest(s)

Members Birthdays
sp_BirthdayIcon
Today: None
Upcoming: None

Top Posters:

koeart: 545

WeeMee: 354

fxstuntelaar: 185

Generaal_Goudvis: 141

juakali: 82

ChrisW: 81

henkknot: 70

Pepe le Pip: 58

Snejanka: 45

Gj8668: 38

Newest Members:

Pfoozy

DutchyFX

ugochinoel

1ez1

vchimereze

Nickachino

COOPER

Michael00000

Rodj

delboy

Forum Stats:

Groups: 5

Forums: 22

Topics: 224

Posts: 2416

 

Member Stats:

Guest Posters: 3

Members: 2364

Moderators: 5

Admins: 1

Administrators: Theo Patsios

Moderators: cesande, glangstaff@shaw.ca, Rob S, theopatsios, sitegroundam

Back to Top
css.php
Access Premium Software and Video Course ...