How to Examine Corrective Price Movement
Begin with the problem people have of matching line diagrams with actual market data right now. I do not want you to be concerned with any prior training you may have had up to this point. Tables of 3-3-5 and such need to go off the desk and out of sight. If you cannot see and feel the difference between a market moving freely with conviction and one that is confused and chopping back and forth as the market pattern is unfolding, you do not understand it well enough to see any corrective pattern unfold in real time. In Figure 3.1 there are two bar charts of actual price data. Sample data ‘1’ is intraday data from the S&P 500. Sample data ‘2’ is a daily chart of a stock within the DJIA.
FIGURE 3.1 Examination ...
Get Mastering Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
