Topics Covered : WaveTrader Module
1. Gann Angles & Vibration
2. Price and Time Projections
3. Price Retracements
4. External Projections
Question> What I'm trying to do is shown in Bryce's book Dynamic Time and Price Analysis of Market Trends on pages 5-2,3,4,5,6,7.
I see what you are trying to do now. I will recreate the Fig 5.05 chart.
angtops.gif is straightforward. Mark out AB and then Alt A and then the ratios of .707 and .333. From the High or even B it doesn't matter which for this exercise.
The Angles are based on the AB range. But if you move the scroll key along to the Low in say Fig 5.05 in the book ie the 2086 Low in July 1996 then you go ALT A, and project the ratio 1.618 using the Low L selection. For those who do Bill McLaren's work selecting A will do it Bill McLaren wise ie at A price from B in Time for an angle that you see at the bottom of the Chart in angptc.gif.
David Hunt
Projections:
Last week I was helping one of our members (who is on the list) get around the WaveTrader/CycleTrader. It was the day of the SPI top and he said:"How can I get the answers I am looking for in finer detail without a calculator. I think it topped today as I had a target at 2946 and should come back down to 2870 or so tomorrow."
Well done Vadim, good analysis!! I showed him how he could get the answers using the WaveTrader section. WaveTrader is devoted to Bar Charts and can chart in Solar Degrees and Calender days.
PROJECTIONS
OK. Steps are
1. Go into WaveTrader.
2. Select Trading days
3. USE "+"
4. Then Mark Shift A on low marked "A".
5 "B" on High Marked "B".
6 Then Shift "C" on Low Marked "C".
7 Having done that ALT P allows you to project Any Set of Ratios you like. I choose Major
8 Elliott looks for Wave3 = 1.618 (or 2.618) * Wave 2 = 2946 which is Vadim's target.
Believe me I have some windows programs which try to do this - they are just sooo slow to get around. WaveTrader gives you speed once you know the keystrokes.
See 2946altp.gif for the chart. So using this knowledge we can use what some people Call Alternate Wave Projections ie using Wave 1 to forecast where Wave 3 should finish.
The Classical Wave 5 target is also Wave 1 length from Wave 4 low. Which sets up a target at 2964. once the current correction is over. See 2964altp.gif.
To get a retracement's exact ratios. Use "+" Key to get on the chart. Mark out the Low with Shift A the high with "B" and "C" and then Shift "D" on the retracement. Press "E" and then P from the choices It shows a 57.5% retracement. A smidgeon off the 57.7% Harmonic Bryce has taught us that is so commonplace in the SPI. To forecast a Retracement mark out Shift "A" and B and then hit ALT R and then use whatever Ratio you want ie Gann, Major or Elliott or Single. The Red Line on the ALTR.gif is that retracement area.
1. Mark Out Shift A (low), B & C on same High.
2. Then Hit Alt P.
This will give you External Price Targets Projected off the end of the Wave Projected. I find these useful only really when using Wave 3 * 1.382 to find Wave 5. See altpext.gif
The wavetrader will also do external retracements. Ie Projection outside 100% of the AB range to give you Plummer Style Targets.
NOTE
ALL OF THESE FUNCTIONS CAN BE USED IN THE CYCLETRADER.
THE BEAUTY OF WAVETRADER IS IT ALLOWS YOU TO ZERO IN ON THE SMALLER SWINGS.BRYCE HAS BROUGHT THE USE OF THE SWINGS TO A FINE ART. MOST OF YOU MAY NOT HAVE THE SAME MAP AND EXPERIENCE HE DOES TO MAKE YOUR SWING COUNT SING TO YOU. I SUGGEST YOU WORK WITH THE BAR CHARTS IN WAVETRADER AND USE THE TOOLS IN THERE. HOW A BOUT SOME HOMEWORK!!
Steps:
1. Go to WaveTrader and pull up the SPI.
2. Go into the last 3 weeks of trading and
3. Work out some Alternate Wave Projections, retracements and external projections for the last wave.
CYCLETRADER STUFF
Look at how the CycleTrader Daily analysis shows you the equal ranges that happened on the last top (Equal Waves.gif). The keystrokes I used to get the listing are on the chart. Use the "+" Key to scroll, then pick out the swing points with the ABCD markers and then Press "E". The ratios in Time (Degrees and Calender), Price, Vibration (ie how the Gann Angles relate),
PS WE NOW HAVE AN ON-LINE BOOKSTORE WHERE YOU CAN BUY ALMOST ANY BOOK ON TRADING IN PRINT.
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