Please read the chat-room rules at the bottom of the page!!!
Again, Please do not click on the chart, it will redirect you to Freestockcharts.com and you will loose this page and the CiL. You can safely move the slider bar to change the time frame!!
- Columbia1 & E-T are busy following 8 – 15 different charts at a time during real time. The least you can do is read the prior commentary before asking questions.
- No one can predict the market entirely. If they could, it would stop being a market. However, there are tools & techniques which offer better odds, and we explore them. Do not complain about the tools being used unless you offer a better one.
- We do not provide trading or investment advice or tell you what or why to bull or sell, or when to buy or sell it. If you are unhappy with your results, then you are unhappy with yourself. If you are unhappy with yourself, step back from trading or charting, and especially from criticizing in chat, until you “want what the market wants”.
- We do not use Elliott Wave techniques exclusively, and always refer to other indicators such as the daily Bollinger bands and the 20-day moving average. Relying on one technique only is like playing a football game where you have decided all the plays in advance : it is a strategy bound to loose, because just like the other team in a football game ‘adjusts’ to what they see, so, too, does the market ‘adjust’ to the orders it receives. Therefore, do not express disappointment when a wave count does not occur, because it happens often!
- E-T uses one technique consistently; it is Bill Williams’ developed method of ‘counting the waves’ using the EW_Oscillator with 120 – 160 candles on the chart “for the wave in question”. There is no point in questioning this technique since it is well defined, and validated by Bill Williams own performance. Before criticizing this technique a) be sure you have watch the Bill Williams video from the link on E-T’s site, and b) again, have a different technique to offer.
- E-T’s technique is a “wave counting technique only”; it is NOT a “trading technique”. Waves OFTEN extend or compress, and they impulse and correct. A person CAN NOT see a wave in advance, they can only count what they see on the chart in the past; and/or respond to “new news”; so “why” questions are almost irrelevant.
- Because the technique is not a trading technique, other techniques such as “fractal breaks”, slow stochastic crosses, and Money Flow divergences (as well as many more) separately or together may provide entries and exits in your trading ‘system’.
- If you have not watched E-T’s weekend video, expect that the only reply you will receive to some comments is WTV (Watch the Video).
- Although we do not provide trading or investment advice, our personal experience is that “trading against the larger trend of the market” is the surest route to ruin. It is the graveyard of the novices and the uninformed. If you get emotionally upset by doing this, please do not confuse it with the value this chat room offers.