mastering elliot waves. Rules of Retracements.
After sticking to the rule of proportioning (using 45 degree angle on m1), and rule of observations (labeling past waves m0, m-1, and future waves m2, m3 properly relative to m1), now we want to measure the retracements of these waves.
The author of this book suggests people should use rulers and protractors and all that other caveman stuff. Sometimes technology isn't such a bad thing is it? We can use the Fibonacci retracement tool to make short work of the retracement percentages. Then we can call something "rule 5, condition d" for example, based off these measurements.
From there we go to a list of pre-established logical extensions and ..... that's as far as I got today. Next time, I can hazard a guess, I will be covering the logical extensions for each separate rule/condition pairing. Whatever the author thinks is important to cover is what I will be sharing here as well.
The author of this book suggests people should use rulers and protractors and all that other caveman stuff. Sometimes technology isn't such a bad thing is it? We can use the Fibonacci retracement tool to make short work of the retracement percentages. Then we can call something "rule 5, condition d" for example, based off these measurements.
From there we go to a list of pre-established logical extensions and ..... that's as far as I got today. Next time, I can hazard a guess, I will be covering the logical extensions for each separate rule/condition pairing. Whatever the author thinks is important to cover is what I will be sharing here as well.