PDF Title | : | Timing Solutions for Swing Traders |
Author | : | Robert M. Lee & Peter Tryde |
Language | : | English |
Publisher | : | Wiley.com |
Format | : | |
Total Page | : | 239 Pages |
PDF Size | : | 5.26 MB |
PDF Link | : | Read and Download |
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“The Elliott Wave Principle enables traders to formulate a suitable trading strategy as the market progresses. It provides a tool to effectively monitor the position of the market relative to the trend and the probable target of the market’s movements.
The wave principle works better if it is applied to market averages and blue-chip stocks that are supported by active turnover. Generally, it is not practical to apply wave analysis to thinly traded stocks or penny stocks if such stocks have no transactions or supporting volume.
When turnover starts to dwindle to practically zero and prices stay dormant for weeks, there is no possible way to do any counting because no transactions are being done and there will only be a horizontal line.
It is not practical to get bogged down in detailing every small wave or in pinpointing each of the corrective counts. It is a common mistake to try to count every move, which not only overcomplicates the matter, but may lead to deep confusion.”
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