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Question Of The Week - Library Of Past Questions |
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| 11/29/2006 |
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| Question: |
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In other publications I frequently see wave counts such as 1-2, i-ii, 1-2, followed by a 3rd of a 3rd Extension. How come you rarely have that in your NEoWave Chart and Trading services?
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| Answer:
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NEoWave theory includes many rules and guidelines not found in orthodox Elliott Wave. These rules and guidelines bring a new level of regidity, objectivity, logic, and as a result, dependability to the study and identification of wave patterns. Without such regidity, wave analysis becomes a matter of opinion instead of "fact."
In most cases, when you see someone's wave count that possesses a repetitive series of 1's and 2's prior to a 3rd of a 3rd "explosion," there are many logical inconsistencies. More often than not, you will find lower degree 1's and 2's taking more time, price and complexity than higher degree 1's and 2's. By definition, this is logically untenable. In addition, such counts usually place smaller 2-waves outside the larger 0-B or 2-4 trendline. Again, a difficult situation to justify.
If you want your counts to be consistently reliable, without the need for constant revision or complete alteration, you must make sure smaller 1's and 2's take less time, price and complexity than larger 1's and 2's.
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