If you plan on taking part in the CADJPY idea...be careful. I always want to look for clues that things are not playing out as thought and the latest USDJPY decline looks corrective to me. In other words, a larger C wave advance would push through 113.37 before a turn. In other words, we could be in a larger correction from 112.06 than previously thought.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=9202&stc=1&d=1194554033
I actually expected this big rally at the end of today. Look at where the bounce came from (roughly)...where the two legs are equal.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=9203&stc=1&d=1194557053
Hey guys,
As we wait for the Yen pairs to show us whats going on, heres an update on the Aud/Nzd which is going according to plan at a turtle's pace. Wave b has been breech which is the initial signal that the correction should be over. We should be in the early stages of wave iii of C down.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=9208&stc=1&d=1194575343
To be fair Jamie, so did I, I was short the S&P500 (with options) since the Tuesday close and got out today about 5 points from the low.
Are you suggesting you think the tumble is over ("where the 2 legs are equal"), or just that you thought this was some sort of support level? I'm thinking Dow and S&P may be in wave C of an expanded flat that started in July. This scenario would mean the August lows wouldn't hold, though not necessarily by much. This could be the other shoe some of us have been waiting for since the low in August. There are obviously some more bullish alternates, but this is my preferred count at this time. Either way I see the end of day rally as all or part of a 4 of larger 3.
I see Nasdaq in a much more bullish position though.
I say "miracle" in reference to the deep pockets (i.e. the working group, a.k.a PPT) which make these kinds of drops more orderly. If they hadn't been around the drop from the top 3 weeks ago might have been much more vertical.
p.s.
Just to be clear, what they are doing is legislated and legal, and I don't really have any issue with them, I just find it useful to remember they are there, so I don't want to be too gready on the downside, and I generally try to get out before the low because I don't want to get caught by these massive short covering rallies.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=9209&stc=1&d=1194575367
This is what I'm seeing, in which case wave iii of 5 has started and should take us to a new low under 111.59 maybe today.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=9211&stc=1&d=1194589101
Our Offices Are Located In Beautiful San Diego, CaliforniaThe Trading Roomhttp://www.traderscoach.com/images/p_01.jpg
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About me
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My name isBryce Gilmore
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I have been in the trading business in excess of 35 years andI know the difference between good advice and the typical "snake oil" that is peddled around this industry. Anything I am prepared to tell you is well worth listening to. I would go as far as to say that if I can't teach you to be a successful trader then no one else can. That's a promise.
Now I am semi retired I have had time to assemble some simple rules for new entrants to the trading business to follow for success. Although I use the S&P market for all my examples the method/approach is applicable to all markets.
In 2007 I published my work on day trading principle under the title PRICE ACTION. The trading set ups I describe in the PA book are the "nuts and bolts" for anyone who wants to become a professional trader. The PA book contains an approach to follow with the desire to make regular short term trades with a high probability of success. The criteria I recommend is to only take trades with a low exposure to risk - all the set ups I recommend are explained in the PA book. In fact the bottom line approach is explained with an abundance of classic examples. The real test for a successful trader is being able to follow rules; with the 10+ set ups I describe in the PRICE ACTION book there is one for just about every possible market occasion.
Your road to success lies in accepting the need to only trade when reasonable PROBABILITIES exist and accept that if they are not working to exitand move on until the next one arrives. If you can develop an attitude where you will wait for the right set ups to appear then you can contain your risk and just execute what you have learnt to believe will work. You will have some losing days, but they should be small ones unless you become reckless. You need to develop a mindset for discipline to only take trades that show promise from what I can teach you. There is no other way to win.
I have other earlier books I have written which would help your understanding of why the markets continue to follow a behavior that is predictable but for beginners I recommend my PRICE ACTION manual.
There are plenty of other books available on the internet that offer insites into trading success but most of them are just scratching around the surface, maybe as an assist to my method I would recommend reading Mark Douglas (Trading in the Zone) at least his book confronts the issue of developing a winning attitude and I know that can help you.
It is in your interest to examine this web site if you don't want to waste years of your time finding a way to WIN.
The PRICE ACTION METHOD:
The basis of my method is to use technical analysis primarially to establish where the daily levels of SUPPORT & RESISTANCE lie. These can be identified in time frames which range from SMALLER DEGREE and up to LARGER DEGREE which gives us about 5 potential levels to work with. I have formulated rules to determine where the various levels of SUPPORT & RESISTANCE lie. From thereon it is just a matter of following the market price action and buying into support levels or selling into resistance levels. If a particular day is a strong trending day you can add to an upward trend by buying into breakouts above resistance levels or if it is a downward trending day you can sell into breakouts at levels of support as they are broken.
On a day to day basis the market always provides clues for you to use to determine your best course of action. There is no need to forecast what the market will do tomorrow or next week as the RULES will guide you each day to determine the logical SUPPORT & RESISTANCE levels. If SUPPORTS are breaking then you should be selling, when RESISTANCE is breaking you should be buying. When the market is in a definedrange you can execute trades by buying at implied SUPPORT and selling at implied RESISTANCE. If the market breaks out of your defined range you can STOP and REVERSE quickly and go with the new market flow.
Our WaveTrader software has been designed to automatically provide all the information you will need to execute trades at the correct levels. You can workout most of the levels in advance or you can wait until the WaveTrader highlights them for you as the market moves along. Lots of things will jump up that you probably didn't consider beforehand so the software is your eyes and ears for avoiding situations where your emotion has taken over.
The trader with the ability to use both the long and the short side of the market on a day to day basis can outperform the so called Guru's a 100 times over and with my method of day trading where you go flat each night you don't wake up to any surprizes the next day. Each day is a new day with new opportunities and a repetition of the same old things I teach. The only difference is the swings may expand or contract and the market may change direction. Nevertheless my rules cover these situations.
A TYPICAL TRADING DAY in the S&P500;
Most days economic reports are released at 8:30am and 10:00am. The market day RTH is from 9:30am to 4:00pm EST.
Within that time we have 6.5 hours or 390 minutes of trading where the volume of trades in the ES eMini can top 5mil but generally 2 mill is an average.Floor traders are active all day swing trading, technical trend traders take positions early in the day, follow their systems and exit towards the end of the day. Big hitters sit on the sidelines and exploit pattern set ups they are familiar with.
The days progress can be progressively up or it can be down or it can be sideways. 2 out of 5 daysthe market will close somewhere close to its previous days close. The other 3 it will it will makes gains up or either retreat backwards. Along the way it has to hold support or break resistance to move along. 1 day in 5 the market will trend up or down basically all day with small corrections from the open until the close. Traders exploit these habits as they unfold, it is as simple as that.
My method is to evaluate the market mood of the day based on it's technical position at the start of the day, its opening price and the direction it is taking based on the known technical support & resistance levels. Trade opportunities may come at the beginning of the day or they may take time to evolve. There could be a GAP opening from the previous day that requires consideration. Generally my method will give you up to 5 solid entry points during the day to execute short term, low risk entries, based on the technical position at the time. When everything is in your favor you take the trade, when it is not you stand aside, just like a good poker player.
Another influence markets suffer on a day to day basis is sudden news reports that can effect buying or selling action in market sectors, these are things that are easy to monitor as all you need is a cable connection to the CNN or Bloomberg news.
I am not in the forecasting business and I am not a financial advisor, I am an opportunist using a process of pattern, trend and geometry I know that other "smart" traders will act upon to execute buy and sell orders in tandem with each other. When the majority of smart traders can identify the opportunity they will throw their money in and the market will either accellerate or reverse direction based on the signal we all see at the time. When the party is over we all start afresh.
The more traders who can identify the opportunities as they arise the better my method works.
If you take the time to investigate the difference between the winners and the losers in this business you will find that my solutions to trading are the best in the business. Our position is a clear and concise approach based purely on the desire to win.
Also we are the only ones providing the software and support to make it possible for the individual trader to beat the market on a day to day basis. You can try all the others if you wish to waste your time and your money but if you survive them your only choice will be to return here.
To win you need to make a commitment to the winning process and follow a path that is a commitment to winning. If not then you are bound to lose.
Now the statistics in the industry are simply this: 90 to 95% of new traders lose money and most of them never return.
So if you want to beat those odds you have to find a way to do it. I KNOW our way is the best and I welcome you to try it. Once you have read our PRICE ACTION manual I invite you to purchase our WaveTrader software and join our LIVE INTERNET discussions group on Hot Comm to participate and learn the finer points involved in trading to win.
BBG
Links to important information are below.
See my office set up
See our Hot Comm room offer:
See our PRICE ACTION manual offer:
See our WAVETRADER SOFTWARE offer:
See our WT ASSISTANT SOFTWARE offer:
SUPPORT & RESISTANCE
Support and Resistance levels traders use to buy and sell from can be seen on your charts if you know what to look for.
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IMPLIED SUPPORT & RESISTANCE
Then there is what I call IMPLIED S&R, these are levels where strict geometric sequences form between market swings highs and lows made along the way. An implied S&R could be at a RETRACEMENT level or a combination of swings that geometrically relate to prior swings and terminate on a retracement level or an expansion of significant consequence.
Implied S&R can be defined in time frames from 1 minute and up to monthly; to keep track of the various swing degrees requires work or a dedicated software to ensure you do not overlook anything. This is where the WAVETRADER software excells if you want to trade my method.
The PRICE ACTION manual outlines the conditions and the sequences of geometric swings that provide the best opportunity to make low risk entries with a high probability of success.
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Say for instance you plot your charts S&R in a higher time frame such as 60 minutes you could see signals to buy and sell along these lines.
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I rest my case:
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My method is a far step from the ROCKET SCIENCE approaches used by the forecasters who cannot even get close to performing anywhere near the market averages. In fact the PA method gives you the opportuniy to out perform the market averages 10 to 100 times over.
Those people who only trade EOD (end of day) data are a mystery to my thinking, you only have to look at a daily chart to realise the 100's of trading opportunities they never see. My method is never focused on the wrong technical direction for more than 1 day and even then that day can be a profitable one.
Wave Trader - HOME PAGE LINKS - www.wavetrader2004.com
[ 本帖最后由 hefeiddd 于 2008-4-26 07:42 编辑 ]
My eSignal Layout
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Most novices fail to realize that trading tools separate the men from the boys and the winners from the losers. I don't know how many times I have heard in the past from "would be traders" - "Oh, when I make some money from the market I will set myself up properly", Well it never happens in that order. Your trading information and equipment has to be your 1st priority in this business before you even risk a penny on a trade. Once you have the right equipment you should practice with it until it becomes part of yourself and you understand everything it can do for you. If you are serious about trading futures contracts as an occupation you should review this free advice for what it is worth.
For S&P trading purposes you will need to monitor the ES futures as the trading vehicle and also the $OEX, $INDU & $SPX. The OEX is the top 100 S&P500 stocks and dominates the market. The S&P500 will not go far for very long if the OEX is standing still. The $INDU also helps to differentiate the market directional potential on any given trading day.
Recommended: PC Computer, 1 Gig ram - Pentium 4. 3.2.ghz - 4 Screens, (2 Gig ram would even be an advantage but it is not mandatory).
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My office number is: +61 7 5573 5510
It is important to remain informed on the general market mood so I have a cable connection in my office and run the Bloomberg service. It has nothing to do with any trades I would take but Bloomberg do have a continuous update with interviews to the S&P pit and you find that this information during the day continually provides important insights into the market action that can easily be overlooked.
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The WaveTrader III can run in numerous eSignal applications and keeps track of all the patterns and geometry on all time frames as the day progresses.
http://www.wavetrader2004.com/Symb075c00b700f080000000.pngWith the WT-ES assistant MkIII we can keep track of all the stock indices OEX, DJIA, SPX, & ES in time frames from 1 minute and more up to daily, weekly and monthly.
http://www.wavetrader2004.com/Symb075c00b700f080000000.pngThe state of the OEX and the OEX position helps you to filter trading opportunity as the ES choices arrive.
http://www.wavetrader2004.com/Symb075c00b700f080000000.pngThe WT III Trend Waves of the momentum in force tell me whether they have a good chance of working.
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You should think about having a separate computer dedicated to your execution platform but it is not necessary to have the extra computer if you have a 4 screen workstation.
My eSignal pages:
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The TIME FRAMES in each of my WT-ES chart windows can be changed at will and even the TICKER can be changed to & from ES #F=2 or ES #F if I wish. I can also change TICKERS to any data I subscribe from eSignal. The main reason I only run the single eSignal page these days is because I have 32 other charts of the OEX, DJIA, SPX and either ES day or 24 hour available at a mouse click. Each time I close eSignal for a reboot the page comes back up loading the same as I left it. This way I save a lot of time in setting up each day and have everything at my finger tips.
If you desire to run more than 1 or 2 eSignal PAGES at the same timeyou can do that easily but you will need to extend your Windows HEAP size to accomodate the space required to run multiple applications without any hitches. I have my windows HEAP size set to 10 meg on all my computers.
HEAP SIZE HINTS:
The standard Windows HEAP size is 3 meg and this heap size restricts the storage of links associated with multple programs loaded in your wimdows environment. You can expand the HEAP size so that it is possible to run a lot more applications in the windows environment at the same time.
Setting up your computers to run multiple eSignal applications on 4 Screens:
The ideal way to set up your eSignal for trading is with a layout on 4 separate windows where you can have multiple screens or set your eSignal up so you can switch from one page to the other in a second.
You may have a problem running 4 separate windows of eSignal until you increase your WINDOWS HEAP size. This can be done through the REGEDIT editor. Heap size needs to be increased from 3072 to 10240.
See microsoft for information. http://support.microsoft.com/default.aspx?scid=kb;en-us;184802
HKEY_LOCAL_MACHINE\System\CurrentControlSet\Control\Session Manager\SubSystems\Windows
The default data for this registry value will look something like the following (all on one line):
%SystemRoot%\system32\csrss.exe ObjectDirectory=\Windows
SharedSection=1024,3072,512 Windows=On SubSystemType=Windows
ServerDll=basesrv,1 ServerDll=winsrv:UserServerDllInitialization,3
ServerDll=winsrv:ConServerDllInitialization,2 ProfileControl=Off
MaxRequestThreads=16
Summary
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
WaveTrader Mk III - features
IMPORTANT WT III and eSignal SETTING UP ESSENTIALS:
1. Trading Hours
2. Tick Value
3. Time Template
4. eSignal settings
The WaveTrader III software for eSignal contains some very powerful tools to track the inner workings of any market.
The WT routines can be utilized in any time frame you can load in your eSignal platform. All routines are implemented with a mouse click in the designated boxes or buttons. Mostly using left clicks but in many cases both left and right clicks do different things. This is the most sophisticated piece of software you are ever likely to come across in the futures trading arena.
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1. Swing Value buttons - allow you to change the swing value being used on your charts so you can tailor your swing sizes to the most desirable value.
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2. X-ABCD Tables - tabulates the geometric ratios present in various configurations.
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3. 1:1 routine - When ON (left click turns BLUE) it will automatically display all 1:1 levels coming into range.
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The 1:1 Boxes on your chart show the 1:1 TARGET PRICE, they could be for in SEQUENCE 1:1 Corrections or 1:1 Double Drives in SEQUENCE. They could incorporate single swings in the series or combine a series of swings to make their TARGET CALCULATIONS based on the relative swing degree the routine is interogating. Even when they are not switched on they will come on automatically should the price come within 2 ticks of the target price; this is to alert you to the situation at hand should you be asleep at the time.
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See the link above [ 1:1 ] for a more examples.
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4. 3850 62 Buttons - Left click each button to turn ON.
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The reason I have introduced this routine is because in the past unless you were particular enough to do your medium degree swings and larger degree swings on higher time frame charts a lot of times the market would hit and bounce from a greater degree 38 - 50 - or 62 and you would not be aware of it.
This routine can be run on shorter time frames and the ranges that the 38 50 and 62 refers to may not be visible, nevertheless the WT III will monitor them for you. It is important to be aware of the larger degree levels as the market moves forward.
THE WAY SWINGS ARE PRIORITIZED INTOKEY LEVELS:
A series of swings for the purposes of the routine is determinedby the size of the corrections within the series. For instance.....
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When swing corrections in the series are overbalanced the Auto Retrace for that range will be dropped from the tables.
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5. Floor Trader Pivot Levels (left click FTP button for ON/OFF) - (right click to remove a target box)
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There are some very interesting market reversals that occur intraday due to the following of these FTP levels so it is important that they be monitored especially when they coincide with EW levels or Globex highs and lows that reversed the pre day session activity. Nevertheless they generally act as a market trend indicator. Basically the P-FLT is fair value and S!, S2 are viewed as support levels whereas R1 and R2 are viewed as resistance. Mostly the days trading range will be confined between the S1 and R1 but should they break it is evidence the market could move much lower or higher as the day unfolds.
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6-7 The PRINT LINES for OPEN and ES Globex HIGH and LOW and GAPS.
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GAPS - If there is a GAP opening on any trading day it will be displayed as a similar line on your chart. The GAP line works in conjunction with the OPEN button ON.
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Lines can be erased by left clicking on them.
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8. BALANCE POINT LEVELSBPL
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9. TIME & PRICE MENUS - this button off the main menu takes you to a submenu where you can compare swings for instances of geometric relationships in Time & Price.Swings are compared using a CD/AB algorithm - these AB & CD markers are independent of the ones in your XABCD tables.Although when you activate the routine it will default to the last two alternate swings on your chart. The lower table allows you to move your markers to any swing point with the magnet on or if you want to select a chart bar high or low switch the magnet off with a mouse click and select which marker to relocate A, B, C or D and then left click on the high or low you want to interrogate. There are a number of ways you can move the markers around, if you follow the key pad arrows you will see what it can do.
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There is a far more extensive description of this routine on the TIME & PRICE link.
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Time and Price TABLES
Time frames of less than daily bars will be restricted to the calculations in the next window
If you apply the routine on a DAILY or WEEKLY chart you will get the extended table which works everything in time to Calendar and Solar days.
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10. WAVE TRADER TREND WAVES - TWS (Slow),TWM (Medium),TWF (Fast).
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This indicator measures the price action in terms ofMOMENTUM - VELOCITY and ACCELLERATION. The TW overlays a line on your chart and indicates the direction you should be focusing your future trades in. The line will be going UP or DOWN in a strong fashion or it will be diverging with the price action at times. After a strong directional move the indicator can diverge with price so I use the OBV to filter the signals. Usually in the middle stages of a swing series the TWS will hold direction throughout any corrections.
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11. TEST NEW "D" LEVEL - This routine is probably more useful on larger time frame charts when you want to investigate a level that you think the market may go to in the future.
You can use the routine to replicate what the XABCD tables will reflect at the level you have in mind.
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Any levels you test outside of normal range parameters are basically of no value to you and could lead you to a forecast that never eventuates.
The way to use this routine effectively is to wait until the market is close to a significant target level such as a 1:1 DD, a 38.2, 50 or 61.8 of higher swing degree and then input the level via the TEST NEW "D" and see if there is other significant geometry emerging at that level. It can help immensely in your preparation for logical MOB's before the trading day begins.
WaveTrader ES Assistant
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This is the ES (eMini) traders unfair advantage we have developed during the past 4 years.
It comprises a DASHBOARD PANEL you load into your sSignal Advanced Chart which runs in your indicators window. Pattern, Trend and Geometry in the indices effect the flow of trading in the eMini. From the dashboard window up to the minute Chart displays in 1, 3, 5, 10, 15, 30, 60 and daily time frames are available for the ES, OEX, DJIA and SPX. All it takes is a mouse click to change each ASSISTANT display instantly without having to alter your eSignal setup.
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Features:
THE DASHBOARD PANEL updates in real time while the CHARTS allow you to do more refined analysis on the TICKERS.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngOEX participation index (calculates % directional movement attibuted to OEX stocks).
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngColor coded gauges to track the Gann swing condition of the 5 minute bars for the OEX, DJIA, SPX.Fast / Medium or Slow
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngColor coded buttons for ES TREND WAVE INDICATORS (Choices of S, M, F) in different time frames.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngES/SPX Premium Indicator with Arbitrage BUY/SELL Alerts.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngSpike Volume alerts.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngOEX 25 TICK directional momentum indicator above volume bars.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngCOMBO OEX-DJIA-SPX charts 5 and 15 minutes.
http://www.wavetrader2004.com/Symb075c00b700f0ff000000.pngPlus continuous data steaming High Low Last or Range - Pts change or % change.
This tool has been specifically designed to assist traders trading the CME S&P500 futures (namely the ES e-mini) the largest traded contract in the world today.
To explain why, you need to understand the definitive relationships that exist between the actions of the Blue Chip stocks and the S&P500 futures.
The S&P500 stocks are the major stocks in the US system traded on the NYSE in Wall Street. These stocks can be simplified into two groups. The top group is the S&P100 otherwise known as the OEX (ticker $OEX) these make up a content of approximately 60% of the S&P500 capitalization. The remaining 400 in the 500 make up about 40%. The DJIA (Dow Industrials 30 stocks) account for about 30% of the cash S&P500 index. The point is any strong directional movement in the "Blue Chips" tell you to expect an active S&P500 and ES futures contract.
The way we can use the OEX and the DJIA is to confirm trading signals. For instance if the S&P500 is going up and meets a resistance level you may think it has a good chance to reverse direction, yet if you check the OEX and the DJIA at the time you might find that they are running free and have no such hinderence to their progress. This also works in reverse. The real point is if you use the Blue Chips as filters to your trading actions you will find that a greater number of your trades turn into winners.
THE BASIC MECHANICS of the WT-ES ASSISTANT:
WT-ES will provide you with a mechanism from ONE SCREEN to monitor the OEX, DJIA, SPX, ES day session or ES Globex in 8 individual time frames such as 1 minute, 3 minute, 5 minute, 10 minute, 15 minute, 30 minute, 60 minute and daily when required. The WT-ES ASSISTANT is installed below an eSignal Advanced chart and by clicking on the buttons it will display individual CHART GEOMETRY & TREND reports which can be user controlled in an instant. It basically reduces the need for 32 extra screens into 1 screen. The system is perfect for operators using a laptop with an additional screen.
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Our latest WT-ES Assistant Mk III comprises 9 efs modules which integrate into 1 panel below your trading chart in eSignal, it can be run on a single screen computer but is far better using 2 screens, where the reports are flashed into the 2nd screen in the system.
REPORTS HAVE MENU DRIVEN ROUTINES for all CHART time frames, the WT-ES tools allow you to draw in potential support or resistance levels for individual time frames, these will act as a memo board for you and can be viewed in seconds just by the click of a mouse. We have all of our PRICE ACTIONRoutines programmed into the WT-ES ASSISTANT, so there is no need to reload chart after chart in the eSignal as all the data required is stored in your data manager when you have WT-ES running on one eSignal chart.
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A TYPICAL WT-ES Assistant REPORT LOOKS LIKE THIS ONE when it is set up correctly.This is a 1 minute REPORT PAGE and you can see how the market structure is defined with the visual tools available. Just immagine how much information you can access quickly when you have the ability to review al 1, 3, 5, 10, 15, 30, 60 and daily time frames for SPX, OEX, DJIA and ES in a matter of minutes.
Hardly ever does a market turning point go by that you could not have identfied at the time using the WT-ES Assistant.
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Before the trading day begins you can prepare all of your cash indices and your Globex ES charts with the important levels you will be monitoring throughout the trading day. When the ES is approaching a level that would require some trading action by yourself you can quickly review the other charts for confirmation or non confirmation. You will be surprised how many times the S&P market reaches a level of support or resistance that is confirmed by two or three charts in other stock indices.
The WT Assistant gives you instant access to 8 charts each ofvarying time frames for SPX, OEX, DJIA and ES futures.
To be without this tool trading ES futures is a huge mistake. Clearly it will pay for itself over and over again if you understand how to take advantage of its capabilities.
Plotting the ES GLOBEX Report Charts:
One of the other advantages of the WT-ES Assistant is the ability to track the E-Mini Globex data flow. There are many times when the GLOBEX chart will have made highs and lows outside of the day session times and these may indicate the market has reached a resistance or support level that implies a strong geometric influence to the future market direction. It is easy to keep track of these events in future without running eSignal charts under the eSignal method.
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To display 1 minute reports Right Click the box.
To display 3 minute reports Right Click the box.
To display 30 minute reports Right Click the box.
Normally I run the ES day session time frames in my eSignal Advanced Charts and use the WT-ES Assistant to keep track of the continuous 24 hour ES using the reports in WT-ES.. This is very handy both at the beginning of the day and sometimes throughout the day when you have recent varying high or low swing pivots on the day session and the Globex charts. It is even more important when you have Sunday trading into Monday morning and the day session is opening with a gap to the Friday day session trading.
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There are many occasions before or during the day session when the overnite Globex high or low acts as a resistance or support if it had tied in with some significant chart geometry. These are the things we need to know in a hurry without having to chase around loading and reloading charts of other TICKERS in a hurry.
The Globex session often sets the tone for the morning day session trading.Gap openings on the day session are commonplace. If you are not aware of the present Globex geometry you leave a lot of flaws in your trading plan.
BBG
Using WT-ES Reports
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.
http://www.wavetrader2004.com/1x1.gifSWING SIZE SETTINGS
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MOVE XABCD backwards / forwards for TABLES DISPLAY:
For this you can use the ARROW KEYS left or right or the shift left or shift right MENU SELECTION above the Smart UP selection.
http://www.wavetrader2004.com/1x1.gifInserting 1:1 target zones:
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http://www.wavetrader2004.com/1x1.gifAUTO RETRACE LEVELS
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http://www.wavetrader2004.com/1x1.gifRETRACEMENTS38.2/ 50 / 61.8:
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or select the Ret's Button
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Left click on button and draw RED line from high to low for the range required
http://www.wavetrader2004.com/1x1.gifDRAWING TOOLS: draw Trend lines & support resistance lines, retracement levels, etc:
http://www.wavetrader2004.com/Symb075c00b700f000000000.png1. Select the correct Button for the drawing tool you wish to use.
http://www.wavetrader2004.com/Symb075c00b700f000000000.png2. Place Cursor on the starting point and hold down LEFT CLICK and drag cursor to where you want it and release.
http://www.wavetrader2004.com/Symb075c00b700f000000000.png3. You can move lines with the "hand Option" by selecting the line and hold LEFT CLICK and DRAG. A double left click with the "hand option" displayed will remove that line tool.
http://www.wavetrader2004.com/Symb075c00b700f000000000.png4. You can remove all drawing tools from the display by keying the fast key "L" or select "clear all lines" from the RIGHT CLICK MENU OPTIONS.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngThe Drawing tools will be retained on your individual REPORTS until you remove them yourself. Yet they maybe displaced if you change the X/Y axis on your report display. The Reports can be manipulated to display up to 500 data bars using the [ or ] keys.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngThe SWING VALUES can be adjusted up or down quickly in waves of similar degree using the SMART KEYS - PgUP or PgDn.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngXABCD Pivots can be highlighted quickly on or off with the Keys X-A-B-C-D on the keyboard.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngGeometry from the XABCD table calculations can be highlighted by left clicking the appropriate box in the tables.
http://www.wavetrader2004.com/Symb075c00b700f000000000.png1:1 table calculations can be displayed by left clicking the appropriate box.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngRetracement tables can be displayed by left clicking the appropriate box.
http://www.wavetrader2004.com/Symb075c00b700f000000000.png2 and 3 day SWING levels can be displayed by left clicking the table boxes.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngTREND WAVES can be displayed by left clicking the FAST, MEDIUM or SLOW boxes.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngGann swing overlays can be selected by left clicking the appropriate boxes.
http://www.wavetrader2004.com/Symb075c00b700f000000000.pngRSI, STOCHASTIC or DMI displays can be selected by left clicking on the tables for them.
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http://www.wavetrader2004.com/1x1.gifPIVOT POINT LINES (Magenta lines) - Toggle Keys X, A, B, C, D to switch ON/OFF:
These are standard support & resistance levels to monitor.
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http://www.wavetrader2004.com/1x1.gifGANN 2-9 DAY SWING TABLES & CHART LEVELS:
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Settings are available for each column between 2 and 9 days
The swing will either be UP or DOWN.
If the SWING is UP the LOW will be the swing REVERSAL POINT.
If the SWING is DOWN the high will be the swing REVERSAL POINT.
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To remove the lines drawn simply click the appropriate box a second time.
http://www.wavetrader2004.com/1x1.gifTREND TOOLS USING PRICE:
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Assistant Mk III Gann Swings are now set to 3-5-8 periods.
http://www.wavetrader2004.com/1x1.gifPRICE TABLE:
High - Low - Last - Change - Range
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http://www.wavetrader2004.com/1x1.gifLatest WT Assistant MK III features:
Additional time frame reports to allow 1 minute, 3 minute, 5 minute, 10 minute, 15 minute, 30 minute, 60 minute and daily reports at the click of your mouse. Hourly time markers have been added to the lesser time frames up to 15 minute.
Easier to use selection buttons for drawing Rays, Retracements, Arrows and activating the cursor to read high/low, date and time for individual chart bars.
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Automatic display of KEY 1:1 geometry on reports when swing size displayed is not consistant with these 1:1's. (This feature will ensure that you don't miss events that youhave not previously considered).
Automatic display of KEY 38.2, 50 and 61.8 retracement levels when swing size is not consistant with the table geometry being displayed. (These will range from smaller to larger degree irrespective of the swing degree you are monitoring.)
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Time Cycle displays on all report charts including Time by Degree on the daily report charts, (these are based on the swing degree you are monitoring).
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Loading EFS Procedure
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The WT-ES Assistant Mk III is a 3rd party application for use in the eSignal advanced charts environment.
The WT-ES Assistant Mk III runs a DASH BOARD in your eSignal environment and publishes external charts and reports to another auxillary screen in multiple screen computer set ups.
Installing your WT-ES Assistant Mk III DASH BOARD to your eSignal charts layout:
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Steps 1 & 2:WaveTrader ES Assistant.efs & WT ES 1.efsmodules when 1st loaded:
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Step 3. Drag panel with WT ES 1 over the top of Wavetrader ES Assistant panel.
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Steps 4:Loading the next efs -WT ES 2.efs in order, after this is complete follow the same steps with loading the other efs module WT ES - 3 to 7.
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Step 5 : (For V10 eSignal) When you have loaded the WT ES 8.efs instead of dragging it over the top of all the other combined efs files DRAG the COMBINED WINDOW of files over the top of the window containing the WT ES 8 - this way the volume bars will be hidden behind the ASSISTANT TABLES if they overlap.
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Once you have it to this stage - click the PLEASE CLICK here and all the tables will appear.
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The DASH BOARD is loaded, you can now move on to the settings menu.
SUMMARY:
Moving all the panels into ONE indicator pane:
1. Left click in the panel to be moved and hold the left click ON whilst at the same time pressing and holding down the SHIFT KEY on the keyboard and drag the panel over the one it is going to reside in.
2. When the panel arrives where you intend it to go (Wavetrader ES Assistant panel) eSignal will display a square border on the frame - release the cursor and the SHIFT KEY.
3. Now it is set except you will need to set up a 500 bar TIME TEMPLATE similar to what we use in the WTIII - details can be found on this link on our web site.... TREND WAVE
4. When you complete the process you will need to save the page as a set up Advanced Chart pages so you can load it at anytime in the future without going through this whole loading process.
5. I have given mine a name of WT-ES
6. To save the page select PAGE from the eSignal selection list and select Save page as (see instruction below).
7. After you have finished Right Click on your chart and select STACK STUDIES.
8.You can also add additional eSignal studies to the same page if you wish and stack them to be available from a selection bar below the lower window pane.
When you are finished: Select Page from the eSignal menu and use:-
1. Save Page As...... (give it a name eg., WT-ES)
This layout is now saved and can be reloaded from PAGE each time you reload eSignal.
2. If you also have a WT III loaded as you would normally do and then select SavePage from PAGE.
3. WT-ES - SETTINGS
http://www.wavetrader2004.com/1x1.gifeSignal Page with WT-ES and Wavetrader III loaded:
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SETTINGS MENU for WT-ES Assistant Mk III
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All these WaveTrader ES Assistant settings can be altered to USER PREFERENCES.
If you change any settings it will be necessary to choose the SAVE option and then RELOAD your eSignal page before they can take effect.
Additional efs programs can be added to the this WT-ES page layout if you wish and saved to this PAGE so they load each time you display this page layout.
Now if you are of reasonable intelligence you should be able to do all this OK - if you are not, then what can I say, perhaps you shouldn't be in this business at all.You can always get some help from an IT person or our WAVETRADER2007 Hot Comm room.
WT-ES Dashboard
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Mk III DASHBOARD
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http://www.wavetrader2004.com/1x1.gifWT-ES ASSISTANT Mk III
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TICKER BOXES on the DASHBOARD will be GREEN or RED indicating the 3 day Gann swing direction.
Green for up and Red for down.
http://www.wavetrader2004.com/1x1.gifReport pages are available for tickers - OEX - DJIA - SPX & ES in 5, 10, 15, 1, 3, 30 and 60 minute as well as Daily.
For a two screen system you can DRAG the report window to your auxillary screen and once you have it there key the RED X off and next time when you access a WT-ES report it will go automatically to your selected screen.
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http://www.wavetrader2004.com/1x1.gifUSING the OEX PPT feature:
This feature will read between 1 and 99% either Green or Red - readings of 20-90% are meaningful. Basically it is a mood indicator calculated from the prior days close and monitoring the activity in the blue chip stocks since the market opening.
If the SPX is moving in a positive day session and the OEX is also, the indicator will be GREEN and the reading will tell you the strength of the OEX participation as either Strong (above 70%), Normal (60%) less than full participation (under 60%). If the SPX is on a negative day session the Indicator will be RED. Readings will be more convincing if the SPX change from the previous day is greater than 2 SPX points.
There are 2 very importantstrategic situations in which to use this indicator.
1. Market trend is up in SPX from the previous day close and OEX is dominating higher prices.
A GREEN PPT of over 70% - http://www.wavetrader2004.com/7657f140.png Trend UP is strong and breakouts should succeed, also 1:1 corrections will be good buying levels.
2. Market trend is down in SPX from the previous day close and OEX is dominating lower prices.
A RED PPT of over 70% - http://www.wavetrader2004.com/76683150.png Trend DOWN is strong and breakouts should succeed, also 1:1 corrections will be good selling levels.
Other situations:
RANGE TRADING SITUATIONS are more likely when OEX PPT is at or below 50% readings.
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At the ES double top OEX is making lower high on a PPT reading of 50%, prior to the double top the PPT was fluctuating between 45-50% indicating weakness in the rally. TWS was also indicating a distribution. The sell at the ES double top was a good bet at the time so long as the OEX did not break above the prior high.
http://www.wavetrader2004.com/1x1.gifGAUGES - OEX, DJ and SPX:
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The GAUGES strictly use the 5 minute data for the OEX, DJ and the SPX price flow. This data is updated by eSignal approximately every 25 seconds. On a normal trading day there could be up to 10 swing changes. Swing changes require the price to either exceed the high or low of the prior 3,5 or 8 bars depending on the current swing direction and speed setting. The GANN SWING is predominately a PRICE MOMENTUM indicator nevertheless if swings are making higher highs and higher lows the trend is up. If the swings are making lower highs and lower lows the trend is down.
Only the prior number of bars is taken into consideration: if the swing is going UP the gauge will remain GREEN whilst the trading price remains above the 50% level of the prior bars being taken into account; if the price moves below the 50% level of those bars the gauge color will change to YELLOW. In the case of a downswing the color will remain RED and change to FUSIA if the reverse is the case. The color changes are only an alert and not a guarantee that the swing will reverse.
Corrections in an existing trend can cause the swing to reverse so it is necessary to watch your PRICE and GEOMETRY for 1:1,50% and double top or bottom retrace levels that would perhaps put an end to the correction.
http://www.wavetrader2004.com/1x1.gifTREND WAVE BUTTONS:
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These compute the ES futures TREND WAVE direction in the intraday time frames designated.
The more GREENS or REDS you have then the more likely the trend is stronger in that DIRECTION.
http://www.wavetrader2004.com/1x1.gifDASHBOARD SETTINGS:
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Any of the parameters in the window can be changed to user preferences. These are my preferences.
Swing Degree
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SWING DEGREE
The swing recording routine in WAVETRADER III is the nuts and bolts of the whole geometric approach to market support and resistance.
Market swing degree can be defined on a scale of Smaller to Larger swings. Geometric relationships will be seen to form in all swing degree levels. When you have important combinations forming in two separate swing degrees at the same level a reversal of some description will be most likely. If a reversal does not eventuate all it does is signal a continuation. If you are aware of the important set ups we teach then you are sitting in the drivers seat.
1. SMALLER swing degree movements
2. SMALL swing degree movements
3. MEDIUM swing degree movements
4. LARGE swing degree movements
5. LARGER swing degree movements
If you use ELLIOTT WAVE as a guide then each higher degree swing movement will contain 3 to 5 swings of lesser degree. For instance a LARGE DEGREE SWING will most likely contain 3 or 5 MEDIUM degree swings.
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You can see the scales I am talking about if you set up eSignal pages to track the market on several different time frames.
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For day trading purposes you need to track time frames between 3-5 minutes and up to 60 minutes. The real point is that most intraday trading opportunities will come from the Small and Medium degree swing changes and on an ongoing basis the LARGE or LARGER degree geometry will come into play.
You need to track the progress of the market in all SWING DEGREE to know when the higher degree is in a position to over ride the lesser degree swing geometry.
The WT Mk III and the WT-ES ASSISTANT Mk III has some proprietory routines to track the unfolding geometry even when it is not visible to you on a smaller time frame chart.
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Here is an example of a 3 way swing degree level.
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Then of course the picture can be clearer in the right time frame.
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If you want to know why it is the way it is.
The main reason for the WT-ES Assistant is to give you a very instant way to confirm any geometric signals you encounter that may relate to the higher degree swing geometry.
I think this example should give you reason to think that our software is the best in the business.
X-ABCD Tables
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
The WaveTrader X-ABCD system
IN REAL TIME AUTOMATICALLY tracks all the possible combinations of wave geometry in Elliott Wave terms. Retracements, Larger degree retracements, Alternate Waves, Reverse Cross, Double Cross and W5 ratios. Important ratios are highlighted as they come within 2 ticks or the next applicable geometric target will be listed. Previous swing pivots are also monitored for natural support and resistance. You can click on the Next Target boxes to see a visual on your eSignal chart.
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At times the RATIO STRUCTURE of these combinations will ALERT you to important levels that traders using ELLIOTT WAVE will recognize as REVERSAL LEVELS in the unfolding patterns. The XABCD combinations that WT III highlights are dependent on the SWING degree for which you are monitoring. Small swing combinations will alert you to the MEDIUM degree, Medium degree swing combinations will alert you to the LARGE degree when it is important.
Retrace 1
BcD
These
Alternate Wave
cD to aB
are
Reverse Cross
aD to bC
the
Double Cross
bD to xC
configurations
Retrace 2
cD to xA or cD to xC
WT III monitors
Alt 2
X to cD in expansions
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The wave configurations for the XABCD are fully explained in the PRICE ACTION MANUAL.Some are more important than others if they come together a certain way.
INTRA-DAY CHARTS
Each and every day the market stops and starts as it hits technical support and resistance in the smaller, small, medium, large and larger degree: you have to realize that there are so many operators using ratio and geometry to place buy and sell orders. To ignore the opportunity to compete with them is a huge mistake.
We have explained in the PRICE ACTION MANUAL over 30 reliable XABCD ratio events that the market seems to respect in terms of people acting on them. Nevertheless there are probably only between 5 and 10 that repeat over and over that you need to recognize and act upon should other indicators assume they are favorable.
You should always remember that the XABCD pivots on perfect geometry are POSSIBILITIES for a reversal, yet unless they are re-entry geometry they should not be taken as gospel until you have some confirmation they are working. Often the market will react on them and then when the side taking the chance of a reversal is exhausted the market will move on and break those levels. Knowing all of this they still create trading opportunities that lead to future trading opportunities.
This is why it is important to monitor swings as they unfold in relative degree. When the MEDIUM, LARGE or LARGER XABCD's hit on the HIGH PRORITY geometry the market will turn 80% of the time and move significantly in the new direction for a good distance and a profitable trade.
TIME TEMPLATES
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WT III requires the following eSignal TIME TEMPLATE to gather the correct data for some GANN Routines and
the TREND WAVE Indicator - TWS, TWM and TWF cannot work correctly without it.
WT-ES ASSISTANT MkIII - This TIME TEMPLATE is essential if you are to access the ES GLOBEX reports when the day session only is displayed above your WT-ES ASSISTANT.
Follow these instructions to create a 500 bar TIME TEMPLARE:
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Now on the chart right click and select "Time Templates" and select the name that you saved it as (WT III 500 bars)
and save the PAGE.
After this each time you load an intraday chart in this PAGE layout it will load 500 data records into memory. If you
have other pages set up you can apply the same time template and you will know if it is loaded by checking the
TICKER HEADER at the top of your chart.
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1:1
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
Automatically Display 1:1 Combination Targets:
The 1:1 alternate wave combination is one of the most powerful geometric tools in Elliott Wave for determining support and resistance that will potentially signal a market reversal PIVOT POINT.
There are 2 types of 1:1 combinations:
The 1:1 consecutive correction combination.
The 1:1 double drive combination.
The WT III automatically monitors the price data for combinations of these conditions. 1:1's can form in smaller swings as well as larger degree combinations of swings. Keeping track of the potential possibilities is a lot of work and many can go unrecognized without the WT III software doing the work for you.
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Targets can be viewed in advance:
Left click on 1:1 target boxes to DRAW specific calculation and aspects on your chart:
Right click on 1:1 boxes to UNDRAW:
Or they will be automatically displayed on your chart as they come withing the tolerance applicable to their price amplitude.
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The tolerance filter can be set from the tables menu.
EVERYTHING YOU NEED TO KNOW ABOUT 1:1 THEORY is explained in full detail in the PRICE ACTION MANUAL.
Test New D=?
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
The TEST NEW D=?
Look ahead and examine the potential geometric obstacles that will influence other technical traders using Elliott Wave analysis.
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USING THE ROUTINE:
1.Select Test New D?
2.Arrows will appear around the existing price of D in the table display.
3.Left click on the arrows for up or down and the price will move 1 TICK.
4.Right click on the arrows and the price will move to a value the WaveTrader determines will match the next important geometric level.
5. The small boxes that appear next to the BcD, Alt and XaD or XcD targets allow you to increment those ratios to a next target possibility and it will readjust all the tables to that new price.
5.Geometric relationships will be displayed in the XABCD tables for the "What if D=" value.
6. If you have the swings set so that the current swing has not turned in the new direction you want to investigate use the MOVE XABCD and ALL>> first to start it off and then select the "Test New D".
The latest Test New D=? has the advantage to manipulate some of the table ratios such as BcD, Alt, XcD or XaD to configurations that would normally be important.
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Move XABCD
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
MOVE XABCD markers backwards and forwards for backtesting:
This routine allows you to review past XABCD swing readouts or test a current swing that is inside your swing value parameters:
Move XABCD markers for XABCD table readouts:
Various manipulations are allowed on a temporary basis to either look ahead or look backwards on established chart swing points. There will be occasions where the standard swing value approach does not allow you to see the wave configurations as you would like to.
BACK TESTING ABILITY:
RELOCATE XABCD markers to analyse different swing formations:
Advance the "D" marker when the current swing value has not been achieved:
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Gann Menu
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The WaveTrader III GANN button opens a new set of tables.
The features available are very varied and some are not exactly strict GANN procedures but they all fit with the GANN style.
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Also special Gann events such as full moon, new moon, equinox, solstice, perigee and so forth will be flagged in this box when they fall due.
Each day before you do anything else it is advisable to inspect the Econoday reports schedule.
For more infomation click here
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The OPEN button also controls the GAP drawing tool if there is a GAP opening on your chart.
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Gann daily swing chart levels - (settings can be changed to between 2 and 9 days for each table) draws the levels High - BP - low. The Days button needs to be checked to access these.
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If you click on it it will draw in the previous days close with the boundaries up and down so you can have a perspective of the possible trading range area for the current trading day.
During session hours another box containing Daily Range will appear below the Average Range box and if you click on it it will insert a horizontal line from the opening print and +/- average daily range similar to the one showing from the close.
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1. GS-OFF/ON = GANN SWINGS-Orange swing lines.
2. L-on/off - this will insert reversal level lines when GS-ON is applied.
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Days - Table displays last 10 days trading ranges used for the Average 10 day Range.
Bars - Table displays the last 10 bars trading range- subject to the time frame chart you are displaying.
Swings - Table displays the last 10 swings on your GS-on/off setting with ratio related to current swing in progress.
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FEATURES:
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The average daily range we use is the average of the last 10 days.
You can remove the BPL's and any other boxed levels by clicking the mouse on them. You can remove the GAP line the same way but if you do and want it back you will need to reload the page.
OBP tool:
The open balance point is for sideways markets and tells you the equal distance above or below the open where any reciprocal move would reach its balance point.
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FTP's Pivots
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FLOOR TRADER'S DAILY PIVOTS
For anyone not familiar with these levels let me just say that they can have a profound effect on the INTRADAY PRICE support and resistance. I recommend that you display them on your 5 minute ES chart each day.
It's not that these daily levels have any particular geometric significance, it is just that FLOOR TRADERS are following the levels each day and they can have a self fulfilling effect on short term price reversals some days.
The FTP's are calculated from the prior days high-low-close and the main levels are R2, R1, P-FLT, S1, S2. Where P-FLT is the new days balance point, R1 and R2 are higher levels for resistance and S1 and S2 are lower levels for support.
Primarily these levels are a guide to intraday trend. i.e., if the market is rising and breaking up through P-FLT, R1 and R2 it is in a strong movement. Conversely if it is breaking down through S1 and S2 it is in a weak position.
Some days the R1, R2 or S1, S2 will fall on dynamic geometric levels as the market unfolds, when this happens they become extremely useful in attracting extra buying or selling pressure should the market want to reverse or break through them.
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Time & Price
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Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
Time / Price Buttons for the AB/CD checker readouts
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To understand the methodologies behind TIME analysis the way I apply it you will need my Dynamic Time & Price Analysis manual 2002.use time analysis over longer term periods rather than the short term. For the shorter term I can rely on price, pattern and trend to make a trading decision. The long term does not lie but the short term has too so many signals and TIME is more likely to be a better tool over longer time frames.
Nevertheless if you really want to fine tune your knowledge and understandingof Elliott Wave the TIME relationships are very important and when you understand their implications in the big picture your understanding of the markets will increase two fold.
It's a long study to really understand and you probably don't need to know it if you are going to trade intra-day but I always felt it helped me understand why trends reversed when they did and the TIME was always the dominant reason.
INTRADAY this routine it acts as a calculator:
Use this routine in real time to check wave relationships:
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To move the A B C D marker positions left click on the lower keypad for options. It won't take long for you to become familiar with it if you are a thinker.
WEEKLY CHARTS:
In the normal course of events weekly swing pivots will be dated for the end of the week but you can get the WaveTrader to extract the exact date of a high or low. To do this make sure before you load a weekly chart you load the daily chart first. Then you CRAM as much daily data to the screen as possible back as far as the time cycles you are likely to want to analyse.This will ensure that the daily data in the computer memory can be interrogated by the time cycle routines when the weekly chart is in use.
TIME BY DEGREES:
Time by degrees is a function of the Earth's position in its orbit around the Sun of 360 degrees.The Earth's orbit accellerates and decellerates in terms of degrees travelled versus calendar days and is not a contant formula. For instance at certain periods of the orbit 180 degrees could equal 179 days and at another it could equal 183 days.WaveTrader 2004 has a planetary calculator to measure the differences accurately to the second decimal point.
DYNAMIC VIBRATION:
Vibration is a 3rd dimension geometric calculation of the average points moved per day or degree over the period of the swing. Dynamic geometry between the Vibration of two swings is just as important as is the Price or the Time when it comes to analysing important relationships in Elliott Wave theory.
Retr.-ON
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WT simple RETRACE FEATURE
This feature allows you to keep track of ratio levels related to the swing size you select to run on your live charts. Nevertheless it can also be manipulated with the MOVE XABCD routine.
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The Button controls the ratio selection tables for the RETRACE ROUTINES and the Alt and Rx levels to display.
To exit these tables back to the Main Menu display you use the T-OFF button.
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The same principles apply to the ALT-ON and the RX-ON routines.
Warning: This program contains manyoriginal concepts andis protectedby copywrite. Do not copy or imitate these procedures without our permission.
Alternate wave levels - Reverse Cross levels
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The Alt-ON/OF button with a left click of the mouse enables the alternate wave targets to display on your chart.
The T-ON/OFF button enables the ratio selection table.
Selection is Alt
Ratio Selection can be programmed to any of the ratios on the table and will be highlighted in RED if ON or GREY if OFF
Left Clicks or Right Clicks rotate the values on to off.
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http://www.wavetrader2004.com/1x1.gifRX-ON
The Rx-ON/OFF button with a left click enables the Reverse Cross wave targets to display on your chart.
The T-ON button enables the ratio selection table.
Selection is Rx
Ratio Selection can be programmed to any of the ratios on the table and will the table boxes will be highlighted in BLUEif ON or GREY if OFF
Left Clicks or Right Clicks rotate the values on to off.
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The RX (Reverse Cross) ratio relationship is something you want to watch for a confirmation when a 3 swing series reaches RETRACEMENT LEVELS of 38.2, 50 or 61.8 or when a 1:1 Alternate wave DOUBLE DRIVE connects.
SQ9
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The SQ9 display is in the TIME & PRICE routine.
The Sq9 is a price measuring tool developed by W.D GANN. He claimed price encountered support or resistance when it moved through the degrees of the circle. A circle contains 360 degrees and he claimed price would reach support or resistance at the 90 degreemovements from the starting price.For a market price to move 360 degrees from a level of 576 (root of 576 is 24 and this was Gann's death number) it would have to move 2 Squares - so 24+2= 26 (676)or 24-2= 22 (484) and that would be 360 degrees. Gann's system adjusts as price levels increase or decrease on a logrithmic basis. I have observed this technique for measuring price moves in markets over many years and it has instances were it looks like it is working and so many times where it is of no use.
Nevertheless I know there are more than enough believers out there who will be calculating price support or resistance in advance using Gann's method. Therefore it is useful to know the method and at least monitor it from a technical viewpoint.
To activate the Sq9 tool in WaveTrader2004 you must activate the TIME & PRICE Window.
SQ9 levels can be inserted from the marker level in the Time & Price tables.To activate the display you just Click on the SQ9 button.To run Sq9 levels from any high or low just position the C marker and activate SQ9.
To move the marker just click on the C in the table and it will highlight in bright BLUE, then move your cursor to a swing point on your chart and click again. If you want to move C to a point that does not coincide with a swing level you will have to switch off the Magnet button first then follow the same procedure and click on the high or low of any chart bar. Once the C marker has taken its new location the blue background on the C button will extinguish.
I have a couple of examples to show you from the Gold market where there are a lot of Gann oriented traders.
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The Sq9 tool is probably more useful in the gold and grain markets but moves of 90 & 180 degrees in all markets over shorter time periods will attract attention from the Gann oriented fraternity.
I have another example below from the S&P of a 3x360 instance.
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Personally I wouldn't trade off Sq9 signals unless they tied in with some logical market geometry at the same time. Nevertheless Sq9 is an interesting concept and it does have a dedicated group of followers.
I have explained all of Gann's methodologies in my Dynamic Time & Price Manual 2002 - some are very good and others are fairly average when it comes to reliability.
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