Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

  waveslider said:
hey tasuki, I don't know if you are aware of this but there is a setting I just found under format symbol that asks whether you would like to you trade volume or tick count for tick volume. Just thought I'd pass that along

 

Waveslilder, See attached chart.

This really doesn't belong in the thread on Wolfe Waves, but I don't know where else to put it, and it does address your comment. The whole business of tick count vs trade vol confuses me. I thought I understood it until I did a comparison of different charts, and I see that a chart set to tick bars looks the same whether you choose tick count or trade vol on that tick chart, and the same is true for share (volume) charts---doesn't seem to matter whether you set the volume to tick count or trade vol.

 

Pretty puzzling, actually. I would have thought that a volume chart using tick count for volume would be the same as a tick chart using tick count for volume, but obviously not.

 

If we're going to continue this, maybe we should move it to a more appropriate forum, I just don't know where. There's a forum for a review of Tradestation, but I'm not aware of a forum on TL just for discussing Tradestation charting issues. Maybe there should be one?

5aa70e3bb8678_tickcountvstradevol.thumb.png.04b884d940ca51af05a8585dca5a929c.png

Share this post


Link to post
Share on other sites

They look the same to me.. I have no idea..

The reason I have used this feature in the past is with the "tick countdown indicator" (it has to be set to tick volume). So maybe its just what the indicators you use reference intrabar.

Share this post


Link to post
Share on other sites

Not sure if this is the same one because of the times on your chart, but i think I saw the same one bubba.

This'll be an interesting experiment. This one has much more horizontal lines to it. I know everyone wants price to go down and test that area below from last week, especially with the gap down this a.m.

MyScreenHunter.thumb.jpg.c395111189523937799df4ba00f99e47.jpg

Share this post


Link to post
Share on other sites

i did see that waveslider :) oddly enough, i had a 'canned' ww indicator setup on a chart with a much higher timeframe. it picked it up perfectly. the one i posted was on a little faster chart (relatively). and it looked picture perfect. then the CPI number came out...:o

Share this post


Link to post
Share on other sites

Either side of a gap is a VERY important point technically. This is often overlooked by the book writers...

The opening side of a gap should be treated as the beginning of a new wave, since a new dynamic is being introduced into the market.

It is commonly used to measure how far the move will continue in the direction of the gap..

glad that helped you tasuki. SPY is not easy to trade, I use it mostly to hedge, unless the market is really trending.

Share this post


Link to post
Share on other sites
  waveslider said:
SPY is not easy to trade, I use it mostly to hedge, unless the market is really trending.

 

Well, I got the idea of trying to trade the SPY because it follows the ES almost tick for tick. The patterns on the charts are identical. The reason for trading the SPY rather than the ES is because it moves in smaller increments, so you can risk less if you are pathologically risk-averse, as I seem to be.

 

So, why would the SPY be harder to trade than the ES?

Share this post


Link to post
Share on other sites

here's an interesting sequence of chart patterns. the 3rd pattern is in progress

 

* i should add - it seems every pattern 'in progress' i have posted - fails

 

:)

ES_macro.png.3d7f5926f1ff7a5f573e850d65db318b.png

Share this post


Link to post
Share on other sites

Nice! I hope you are trading this Bubba - - these have been some great patterns. I almost commented on the one you marked in progress. I'm working that same pattern. Great swinging market for Andrews pitchforks too

Share this post


Link to post
Share on other sites

Waveslider ,

 

Can you explain the volume rules for the Wolfe wave briefly ?

My understanding from observing a lot of charts is this.

1. Point 1 should be the lowest volume of all points.

2. point 2 will have the highest volume.

3. Point 3 's volume will be higher than 1 but less than 2

4. Point 4 's voume ?????

5. Point 5 's volume will also be higher than average.

 

Am I on the right track ? or not even close ?

 

Your reply will be much appreciated. Thanks in Advance.

Share this post


Link to post
Share on other sites
  waveslider said:
Yes you are on the right track. Look over some of the previous posts, didn't realize we were up to 24 pages- yow.

Basically you are correct. 5 and 2 are where to watch for big volume.

 

Thanks for your reply.

Most of the time , I get confused about point 1 . More often than not , there will be at least two points which can be labelled as 1. And identifying point 1 is very crucial in order to draw the line from 1 to 4. So if I see two possible points which can both be point 1, should I take the one with the lowest volume ?

 

Thanks.

Share this post


Link to post
Share on other sites

Very nice Ww bullish action on IBM. This one is earnings report driven and was very quick (could be over, IBM reports after hrs). This is just an observation after the fact. No position.attachment.php?attachmentid=6073&stc=1&d=1208366718

5aa70e57a45c5_IBMWW2008-04-16_124753.gif.bd792ac430bf129b00e243a3a4c6278d.gif

Share this post


Link to post
Share on other sites

Duznmatr:

 

This is something you are going to get a feel for, it is an art and not a science as you've probably heard.

 

Remember that what you are getting into is market structure based on geometry. Additionally there are multiple cycles on higher and lower timeframes that can and will override anything you see on the timeframe you see the pattern on.

 

That being said, pt. #1 should be within the range, and be near the beginning of where the range began. Personally (you can see the charts I posted in this thread) I like to have pt #1 occur at a 50% level (a balance point in the market). Further action tends to swing off of this level, and the wolfe wave occurs when it swings too far.

 

hope that helped

Share this post


Link to post
Share on other sites

thrunner - - what do the dark red lines mean in your post? I would bet that the target you found turned out to be the halfway point of a larger move higher..?

I see you are using the better volume indicator. That guy (Barry) has come up with some good ideas.

Share this post


Link to post
Share on other sites

Oh yeah something someone mentioned (I think OAC) earlier.. Wolfe waves seem to work best when the pattern is moving mostly sideways. So your lines (except 1-4) should be pretty horizontal. That's important to keep in mind, because the market can and will accelerate at point 5, or just chop there

Share this post


Link to post
Share on other sites

In Elliott Wave terms the Wolfe wave often includes variations of a "Terminal Impulse" wave. Also, I have noticed complex corrections form where the last segment of the correction is a triangle(4 goes into the area of 1). The break out following the completion of this triangle is the continuation of the prevailing trend (aka the wolfe wave). Becoming familiar with the Wolfe wave will help new traders distinguish the difference between corrective and trending behaviour.

Share this post


Link to post
Share on other sites

Sorry waveslider, didn't see your reply earlier. Here is the entire IBM pattern for April 2008. There are 3 Ww indicators with varying settings so it is picking up quite a few swing highs and lows. Most of the bearish patterns in red were nullified or never completed in April. IBM had great earnings reported after hours on 4/16 and it nearly reached the 2002 high of 125.50.

 

I don't follow Ww much, but when I scan it I do see a ton of good signals. This is the first time I noticed how Ww can help in tracking a earnings play on a stock.

 

Yes, Barry has some good ideas on indicators and the Better Volume gives a little more detail at a glance than just a regular volume. His systems are hardly fool proof though, I still remember two years ago he had a YM futures autotrading system on C2 that completely blew up after initial impressive gains for about 6-8 months.

5aa70e5be0d76_IBMWwApril082008-04-26_161113.gif.cce8d70a24622877dc833d7448a4ebf4.gif

Share this post


Link to post
Share on other sites
Guest forsearch
  thrunner said:
Yes, Barry has some good ideas on indicators and the Better Volume gives a little more detail at a glance than just a regular volume.

 

The code for the Better Volume in TS uses "V" for "Volume" which on an intraday, tick or volume charts is equivalent to "UpTicks", not the total volume or "Ticks" for a given bar.

-fs

Share this post


Link to post
Share on other sites

Thank you fs. The IBM chart above had the symbol tick setting set to: For volume use 'Trade vol' instead of 'Tick count', so in fact the chart had the exchange reported volume. If it was set to: For volume use 'Tick count', then the volume shown would had been 'UpTicks', as you wrote.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Hello citizens of the U.S. The hundred year trade war has leaked over into a trading war. Your equity holdings are under attack by huge sovereign funds shorting relentlessly... running basically the opposite of  PPT operations.  As an American you are blessed to be totally responsible for your own assets - the govt won’t and can’t take care of you, your lame ass whuss ‘retail’ fund managers go catatonic  and can't / won’t help you, etc etc.... If you’re going to hold your positions, it’s on you to hedge your holdings.   Don’t blame Trump, don’t blame the system, don’t even blame the ‘enemies’ - ie don’t blame period.  Just occupy the freedom and responsibility you have and act.  The only mistake ‘Trump’ made so far was not to warn you more explicitly and remind you of your options to hedge weeks ago.   FWIW when Trump got elected... I also failed to explicitly remind you... just sayin’
    • Date: 7th April 2025.   Asian Markets Plunge as US-China Trade War Escalates; Wall Street Futures Signal Further Turmoil.   Global financial markets extended last week’s massive sell-off as tensions between the US and its major trading partners deepened, rattling investors and prompting sharp declines across equities, commodities, and currencies. The fallout from President Trump’s sweeping new tariff measures continued to spread, raising fears of a full-blown trade war and economic recession.   Asian stock markets plunged on Monday, extending a global market rout fueled by rising tensions between the US and China. The latest wave of aggressive tariffs and retaliatory measures has unnerved investors worldwide, triggering sharp sell-offs across the Asia-Pacific region.   Asian equities led the global rout on Monday, with dramatic losses seen across the region. Japan’s Nikkei 225 index tumbled more than 8% shortly after the open, while the broader Topix fell over 6.5%, recovering only slightly from steeper losses. In mainland China, the Shanghai Composite sank 6.7%, and the blue-chip CSI300 dropped 7.5% as markets reopened following a public holiday. Hong Kong’s Hang Seng Index opened more than 9% lower, reflecting deep concerns about escalating trade tensions.           South Korea’s Kospi dropped 4.8%, triggering a circuit breaker designed to curb panic selling. Taiwan’s Taiex index collapsed by nearly 10%, with major tech exporters like TSMC and Foxconn hitting circuit breaker limits after each fell close to 10%. Meanwhile, Australia’s ASX 200 shed as much as 6.3%, and New Zealand’s NZX 50 lost over 3.5%.   Despite the escalation, Beijing has adopted a measured tone. Chinese officials urged investors not to panic and assured markets that the country has the tools to mitigate economic shocks. At the same time, they left the door open for renewed trade talks, though no specific timeline has been set.   US Stock Futures Plunge Ahead of Monday Open   US stock futures pointed to another brutal day on Wall Street. Futures tied to the S&P 500 dropped over 3%, Nasdaq futures sank 4%, and Dow Jones futures lost 2.5%—equivalent to nearly 1,000 points. The Nasdaq Composite officially entered a bear market on Friday, down more than 20% from its recent highs, while the S&P 500 is nearing bear territory. The Dow closed last week in correction. Oil prices followed suit, with WTI crude dropping over 4% to $59.49 per barrel—its lowest since April 2021.   Wall Street closed last week in disarray, erasing more than $5 trillion in value amid fears of an all-out trade war. The Nasdaq Composite officially entered a bear market on Friday, sinking more than 20% from its recent peak. The S&P 500 is approaching bear territory, and the Dow Jones Industrial Average has slipped firmly into correction territory.   German Banks Hit Hard Amid Escalating Trade Tensions   German banking stocks were among the worst hit in Europe. Shares of Commerzbank and Deutsche Bank plunged between 9.5% and 10.3% during early Frankfurt trading, compounding Friday’s steep losses. Fears over a global trade war and looming recession are severely impacting the financial sector, particularly export-driven economies like Germany.   Eurozone Growth at Risk   Eurozone officials are bracing for economic fallout, with Greek central bank governor Yannis Stournaras warning that Trump’s tariff policy could reduce eurozone GDP by up to 1%. The EU is preparing retaliatory tariffs on $28 billion worth of American goods—ranging from steel and aluminium to consumer products like dental floss and luxury jewellery.   Starting Wednesday, the US is expected to impose 25% tariffs on key EU exports, with Brussels ready to respond with its own 20% levies on nearly all remaining American imports.   UK Faces £22 Billion Economic Blow   In the UK, fresh research from KPMG revealed that the British economy could shrink by £21.6 billion by 2027 due to US-imposed tariffs. The analysis points to a 0.8% dip in economic output over the next two years, undermining Chancellor Rachel Reeves’ growth agenda. The report also warned of additional fiscal pressure that may lead to future tax increases and public spending cuts.   Wall Street Braces for Recession   Goldman Sachs revised its US recession probability to 45% within the next year, citing tighter financial conditions and rising policy uncertainty. This marks a sharp jump from the 35% risk estimated just last month—and more than double January’s 20% projection. J.P. Morgan issued a bleaker outlook, now forecasting a 60% chance of recession both in the US and globally.   Global Leaders Respond as Trade Tensions Deepen   The dramatic market sell-off was triggered by China’s sweeping retaliation to a new round of US tariffs, which included a 34% levy on all American imports. Beijing’s state-run People’s Daily released a defiant statement, asserting that China has the tools and resilience to withstand economic pressure from Washington. ‘We’ve built up experience after years of trade conflict and are prepared with a full arsenal of countermeasures,’ it stated.   Around the world, policymakers are responding to the growing threat of a trade-led economic slowdown. Japanese Prime Minister Shigeru Ishiba announced plans to appeal directly to Washington and push for tariff relief, following the US administration’s decision to impose a blanket 24% tariff on Japanese imports. He aims to visit the US soon to present Japan’s case as a fair trade partner.   In Taiwan, President Lai Ching-te said his administration would work closely with Washington to remove trade barriers and increase purchases of American goods in an effort to reduce the bilateral trade deficit. The island's defence ministry has also submitted a new list of US military procurements to highlight its strategic partnership.   Economists and strategists are warning of deeper economic consequences. Ronald Temple, chief market strategist at Lazard, said the scale and speed of these tariffs could result in far more severe damage than previously anticipated. ‘This isn’t just a bilateral conflict anymore — more countries are likely to respond in the coming weeks,’ he noted.   Analysts at Barclays cautioned that smaller Asian economies, such as Singapore and South Korea, may face challenges in negotiating with Washington and are already adjusting their economic growth forecasts downward in response to the unfolding trade crisis.           Oil Prices Sink on Demand Concerns   Crude oil continued its sharp slide on Monday, driven by recession fears and weakened global demand. Brent fell 3.9% to $63.04 a barrel, while WTI plunged over 4% to $59.49—both benchmarks marking weekly losses exceeding 10%. Analysts say inflationary pressures and slowing economic activity may drag demand down, even though energy imports were excluded from the latest round of tariffs.   Vandana Hari of Vanda Insights noted, ‘The market is struggling to find a bottom. Until there’s a clear signal from Trump that calms recession fears, crude prices will remain under pressure.’   OPEC+ Adds Further Pressure with Output Hike   Bearish sentiment intensified after OPEC+ announced it would boost production by 411,000 barrels per day in May, far surpassing the expected 135,000 bpd. The alliance called on overproducing nations to submit compensation plans by April 15. Analysts fear this surprise move could undo years of supply discipline and weigh further on already fragile oil markets.   Global political risks also flared over the weekend. Iran rejected US proposals for direct nuclear negotiations and warned of potential military action. Meanwhile, Russia claimed fresh territorial gains in Ukraine’s Sumy region and ramped up attacks on surrounding areas—further darkening the outlook for markets.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AMZN Amazon stock watch, good buying (+313%) toi hold onto the 173.32 support area at https://stockconsultant.com/?AMZN
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.