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In the prior graphic we presented only the structures of waves that occur in prices. In that case the study was from the 1920's and 30's for the Dow-Jones Industrial Average taken on a weekly basis. Now we step forward to 1996 and examine PROJECTIONS made by the method after accumulating statistics on the market from 1928 through whatever date is the beginning of the projection. As with the methods using Fibonacci, Gann, or Elliott projections -- the answers are not perfect, but they are sufficiently accurate in both TIME and in PRICE to provide the knowledgeable user a SIGNIFICANT edge on other market practitioners.
The method of projection is simple. As each pattern is completed the PATTERN IDENTIFICATION NUMBER associated with that pattern is stored along with the ratio of the difference in price between the last two TPs and the current price at the completion of the last leg in the pattern. Also, the date and time and bar number of the bar on which the turningpoint ending the pattern was determined. After all patterns are identified and price and date/time statistics are stored, the method examines the last N (N is user specified between 1 and 3) number of pattern completions and notes the sequence of pattern numbers associated with this number of patterns. The method then searches backward to the beginning of the data file loaded and each time the same sequence of patterns is identified, the method stores the length (in bars) and price excursion (in percentage) for the three legs going forward in time from the point of occurrence of the specified pattern numbers. Explanation of the numbers displayed with the projections will be provided later. CLICK THE Add to Cart Button TO ORDER the |
