Breakthrough Strategies for Predicting Any Market: Charting Elliott Wave, Lucas, Fibonacci and Time for Profit
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A book that will forever change the way you think about trading and take your technical analysis to the next level
Certain to become one of the great trading books of the 21st century, Breakthrough Strategies for Predicting Any Market is star trader, Jeff Greenblatt’s maxim opus. In it he shares his hard-won lessons on what it takes to be a professional trader, while detailing his proven techniques for mastering market timing. With the help of numerous case studies and charts, Jeff develops his original high-probability pattern recognition system which, once mastered endows its user with a deeper understanding of how the markets really work and boosts the efficiency of any trading methodology by an order of magnitude. Following in the footsteps of the great W.D. Gann, Jeff helps you gain greater precision in any instrument you trade, on any time frame.
can’t measure the B? leg up against some nebulous future leg up that we don’t even know will happen. What we do know is that this correction is not very well organized to the downside. This is a complex concept to grasp but, if you are this far into the book, I know you can get it. Our discussion of rotation has centered on high-to-high and low-to-low cycles. In bull markets, the low-to-low cycle will dominate as the stronger cycle. In bear markets, it’s just the other way around. I know we are
it, if for no other reason than by default. Our 127-day time window beats the gap and the crossover. TRACKING BULL TO BEAR The moving average methodology considers a trend will stray from the mean to the upside but eventually will revert back to the mean, and for large cap stocks, this means a retracement back to the 50-day moving average. The 50-day moving average seems to work best in stronger relative strength stocks. However, in the universe of stocks, reality suggests moving averages
the way it goes. We do get another reversal on the 47th week of the trend, which clusters with an 18-week, high-to-high cycle. See the black candle in week 50? If you were long based on buying off the first leg back down, that candle might be your indication that the long trade isn’t working out and to pull the rip cord. But right now, the game is still trying to find where the retest of the low will end because we still haven’t violated the 61 percent retracement level or any of the clusters
and success. How does one develop a world-class level of mental toughness according to Siebold? It begins with passion. “If you are going to succeed at anything, you have to develop a vision and a burning desire to see that vision through whatever adversity may come your way,” he said. Let’s put it this way: if on a scale of 1 to 10 your passion is a 5 and you encounter a problem that is an 8, you’re not going to overcome it. It’s going to take you down. If on the other hand, you are an 8 and
allow traders or analysts a better roadmap to determine more easily where they are in the bigger scheme of things. There are sets of common relationships in an impulse sequence that are Fibonacci based. The most common tendency is for the third wave to be the extended wave, and many times it will measure 1.618 or 2.618 times the length of wave 1 as measured from the bottom of wave 2 (Prechter 1999, 125–138). In lower probability cases, wave 3 may even measure 4.23 times the length of wave 1.