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Message from
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Snorm E-Waves

Q&A and Support about Steve's (Snorm) Indicators
http://www.For-Exe.com" onclick="window.open(this.href);return false;
Pete
Posts: 26
Joined: Mon Aug 15, 2011 10:53 am
10

Snorm E-Waves

Unread post by Pete »

I'm sure I must have missed something but the above indicator shows a 3 wave on both above and below the balance line, my question is which one should I follow please
Regards
Peter

User avatar
Grant
AIMSter
AIMSter
Posts: 944
Joined: Sun Aug 14, 2011 1:52 pm
10

Re: Snorm E-Waves

Unread post by Grant »

Hi Peter,

if you have a wave 3 on both sides then i would go up a TF and see which way the waves are pointing on there and trade the lower TF in that direction....

hope this helps

Grant
success = patience + discipline - greed

Aletheia
Posts: 6
Joined: Mon Sep 17, 2012 10:41 pm
9

Re: Snorm E-Waves

Unread post by Aletheia »

Hi

Watching the Fib Expansion lines plotted by e-Waves, I believe the plot follows Bill Williams' suggestion to plot from start of W1 to end of W3 and take 61.8% of this.....?

However, my observation is that W5 seems to more accurately peak at or around W5 when plotted from the low(high) of W2 to the high(low) of W3 and then plot to the low (high) of W4.

What is the view on this?

Many thanks.

User avatar
snorm
Posts: 306
Joined: Sat Aug 13, 2011 9:57 pm
10

Re: Snorm E-Waves

Unread post by snorm »

Aletheia wrote:Hi

Watching the Fib Expansion lines plotted by e-Waves, I believe the plot follows Bill Williams' suggestion to plot from start of W1 to end of W3 and take 61.8% of this.....?

However, my observation is that W5 seems to more accurately peak at or around W5 when plotted from the low(high) of W2 to the high(low) of W3 and then plot to the low (high) of W4.

What is the view on this?

Many thanks.
Hi Aletheia

It is common practice amongst Elliott Wave theorists, as well as BW, to plot from start of W1. There is of course no harm in doing fib expansions from W2 as well, then check for confluence at the expansion (or extension) levels, if looking for places to exit or trade reversals.

Please bear in mind that eWaves doesn't always get the start of W1 spot on; eyeball checks and manual fib expansions may prove helpful.

Cheers
Steve :-B

Aletheia
Posts: 6
Joined: Mon Sep 17, 2012 10:41 pm
9

Re: Snorm E-Waves

Unread post by Aletheia »

Many thanks. It helps to touch base and see what others are doing.