i will explain this way, we wonna get our most recent AB boundaries, we wonna get it right, oh ye? but we cant just pick any from the mkt hence we get tje wrong AB boundary, so? we go to the begining of the first wave for the trend on the chart, this can be seen at top crown formation or bottom crown formation of the trend, then u start counting u abcd waves till it meets the current wave condition to know the present AB boundary.
look at this chart http://i39.tinypic.com/2ch85yg.gif
ur abcd counts start from the crown formation down to get the present AB boundary. ABCD is just another type of counting the waves just like the elliot wave counting. but most times, we spot the begining of a wave from the crown formation.
Rob, that crown formation hasnt completed so u cant use that as the start of ABCD counting. zoom out the chart and start from where the wave began.
Hope am not confusing anybody here?
if we can get this, then we move ahead with others
Thanks for taking the time to explain but unfortunately I learn best through pictures so I’ll post where my confusion is.
On your daily, I don’t see why you would put your position A where you did. Why wouldn’t it be where I put that circle for example? I don’t know what the difference in the two position really is according to your rules.
If you can explain that then I think I would get it no problems.
Thanks for taking the time to explain but unfortunately I learn best through pictures so I’ll post where my confusion is.
On your daily, I don’t see why you would put your position A where you did. Why wouldn’t it be where I put that circle for example? I don’t know what the difference in the two position really is according to your rules.
If you can explain that then I think I would get it no problems.
Thanks again.
I will advice u start from the begining of the top of the bearish wave and start counting ur abcd down. then u will see how we arrive at my AB boundary. inside the AB boundary u will have many subswing AB boundaries. plz do me that favor and start from the begining of the wave and if u get something different then i will have to do a video for this purpose.
Ok, thanks again and sorry to hassle you so early in the thread…
So please check my picture and let me know if it is right now.
From what I can understand, I could only use a swing high if it had two consecutive lower highs both sides of it which is why I could not use a swing high previous to the first one I marked. Then price took off and went to almost 161.8 which after a retrace did come down and pass the 161.8 ext. Then we make point C our new point A and the new low which would be D, our new B.
This is what gives you your A and B.
The key here I think I was missing was that until price goes past or close to that 161.8 ext (or whichever one you are aiming at based on the rules from earlier post) then you don’t start another fib with ext. I might need clarifying on this point to be more exact though.
Good work, i can see u got the concept fine. now, u left the smaller swings, from the start of the wave. pick each small swing and redo ur abcd counting.
if u pick the big wave, u might not get the right AB boundary.
If you look at my pic, can you check why my last fib is wrong to start where I have my one started.
I have the previous fib all good with a good retrace high with two lower highs either side. Fib ext/target hit (127) , so why can’t I start that newst fib from that point C???
If you look at my pic, can you check why my last fib is wrong to start where I have my one started.
I have the previous fib all good with a good retrace high with two lower highs either side. Fib ext/target hit (127) , so why can’t I start that newst fib from that point C???
I feel like I’m going a little crazy!!!
Juicty.
Anyone else seeing what I am missing???
I will do a video and u will see it clearly
is that OK?
This one didn’t have many swings but the wave to the left completed from what i can tell to D 138.2. So i started from the bottomg going up from 61.8 and now is at 161.8 but could go higher possibly. Does this look correct to you trendtrader and one more question we allways start from the daily for a completion.correct ? Let’s say for example we start at a crown formation on the daily chart and we have a small retrace to the 38.2 and it completes to D to the upside without any waves do we now start watching for a short move ? Anyway i thnk i’m getting it but a video would be really nice just once anyway to walk us through the process.Appreciate your help trendtrader. Rob
This one didn’t have many swings but the wave to the left completed from what i can tell to D 138.2. So i started from the bottomg going up from 61.8 and now is at 161.8 but could go higher possibly. Does this look correct to you trendtrader and one more question we allways start from the daily for a completion.correct ? Let’s say for example we start at a crown formation on the daily chart and we have a small retrace to the 38.2 and it completes to D to the upside without any waves do we now start watching for a short move ? Anyway i thnk i’m getting it but a video would be really nice just once anyway to walk us through the process.Appreciate your help trendtrader. Rob
The last move did complete to the 161.8 on that pair i just shown you according to my fibs to the left. I know from your instructions from the first you are starting with the daily and moving down time frames.Ok are you just mainly looking for crowns or head and shoulders on the daily then moving down to play it out with lower time frames ? Or do you look for these set ups on lower time frames also ? Are you letting the daily complete play out with the smaller time frames. I pretty much familiar with the abc’s .trendline bounces and candle stick pattern.I’m assuming you just ignore a ranging market. We are just mainly looking for crowns first and foremost then proceed. Anyway i’ll be looking forward to your chart. Thanks,Rob
i really appreaciate the patience exhibits here and the willingness to learn. i am telling you, u will soon see the merit, I just want us to be on the same page before am gonna go ahead with next lesson.
the essence of keeping the AB boundary is to know the direction of the trend and trade along the trade with several confluences like
Candle stick
prior support turning resistance
fib convergence
Trendline bounce
so we must get this before we move ahead.am gonna do camstudio video thiis weekend.
I am really confused now from that last picture so I hope your video does explain and show us how to draw the AB boundaries correctly. It is the A that is confusing to me so i hope you can be very specific on that part.
Thanks for taking the time TrendLine_Trader, it really is appreciated.
Hi trendline trader,I’ll be looking forward to your video this weekend to see how you get your AB boundaries and your fibs drawn…Please be specific from step 1 locating your set up etc and what time frames you start with etc. Then will go from there and see if we catch on.Thanks for your effort. Rob
am not too good with tech, been reading stuffs from camstudio.org on how to do the video, got to learn some few things but how do i upload this when am done with the videos.
Hey Trendline trader. hope your doing well .I’m not much on tech stuff either.Juicy is a young buck so he can probably help us on that part Google Mikogo there maybe something there and it’s free. I know some traders use this to show charts etc as long as we have a meeting id . Rob
Sorry but I don’t really know much about that stuff. I guess you can put them on your blog if you have one, a web site if you have one, or, I’m sure there are some file share sites that would allow you to upload your files on them for us to view.
Google Mikogo there maybe something there and it’s free. I know some traders use this to show charts etc as long as we have a meeting id . Rob