24.12 – 2009,
Some small peeks for market after such a long time. It´s weird to be out & off-line for such a long time, everything looks more chaos as anything precise in the market with first sight ;).
One note for those who uses korharmonic indicator EW patterns, you propably noticed indicator counting wrong contracting triangles as actual counts, it will be fixed and this probably won´t disturb professional EW analysts / traders – the meaning of the pattern was more to pinpoint it out more where and when it appears than put precise counts for it so it´s meant for more manual approach. Pattern itself is correctly programmed but it does have errors also which will be fixed and pretty much same goes for diagonal.
However, live market has also pointed out all EW rules for this pattern to be very real also such as overlaps of c, d or e, specially e wave overshoot of 1.27 of d wave, not only .618 relations either between internal structure anymore but it´s more often seen as 0.786 and 0.862 relations. even 1,0 relations. All be fixed & added over 2010 and for this reason pattern missing a lot of opportunites occures in the market all the time .
These patterns are seen all the time, specially contracting one. Looking only one product I had counted over 5 patterns per day per timeframe. There´s no failures in EW which makes it pretty perfect, I could trade it alone.
2010 will bring a lot of new things / improvement to program / develop of the indicator for further. Harmony patterns & sections are pretty much finished & ready, but EW, Cycles and specially EW timewaves will come more close subject & topic to add on future.
A lot of improvement will be done in this blog also. Most of the sidebars will be gone and new EW content & EW patterns will be added. I think there´s far too many folks charting only SPX and unfortunately I have to drop some of them off – there´s just too many of them, there´s lot more interesting and better EW settings & patterns & products going on as SPX flat index in this world.
Santa will bring studio quality HP-30 Inch multimonitors system also, hopefully my chart are not going to be too large to read using more regular monitors.
At this time no forecasts, not EW setups either. Too blind from here & just a quick peek but you´re probably aware of correct contracting triangle EW counting method which is what ie. Usd-Chf shows now from the live market below. So, skip the letters feeded by the indicator and look only pattern (I corrected the waves manually to the chart) just to be sure beginners with no theory knolledge of EW won´t go forest with it, when it comes like this it´s failure % is zero meaning it can be W2, W4, B or X wave. For experienced EW theorist there´s nothing surprizes in here.
Leaning curve to put harmony and EW together has been amazing project and there´s still more details to be checked, in my opinion EW is still far much precise to provide propbabilites and specially breake the chart where we stand in each timeframe. To express it simple way none other technique cannot breake it how precise and efficent it is with right hands.My own special interest inside of is nowdays related for EW time & EW patterns.
Specially EW time waves has approved to be scary accurate.
Time to close now and enjoy the christmas, enjoy the truly christmas song & vocalist;