Buy a Trial Subscription and get ALL NEoWave Trading and Forecasting services for 2 weeks for only $39.
This will instantly give you access to the SEARCH function for our extensive Questions & Answers Library.
Question of the Week: 10/14/2020
Have you tried to apply NEoWave concepts to hourly charts? Would those charts provide a good foundation for insight into daily price action?
Answer:
A decade after I wrote my book Mastering Elliott Wave, I realized the "bottom up" process of analysis described therein was NOT the best approach for accurate, long-term consistent results.
In the last 2 decades, I've come to realize the greatest coherence of analysis on all time frames is achieved when you begin your analysis from the largest time frame and work your way down - in the process, making sure each lower time frame agrees with the Wave structure and outlook of the larger.
So, to answer your question, I do not use smaller time frames to confirm larger but larger to direct the Wave structure and outlook of smaller time frames. Lastly, because NEoWave has so many more rules than orthodox Elliott Wave, I do NOT recommend attempting to apply it on intra-day charts in real time. It is too easy to forget or misapply a rule during active market conditions.
At specific times each week, Glenn Neely is available to answer questions, provide guidance, and offer individualized advice. This is an opportunity to speak directly with Mr. Neely to address your unique situation, advance your understanding of markets, and hone your trading and forecasting skills.
Cost is $20/minute, with a 10-minute minimum ($200 minimum charge). Your credit card will be charged after the call.
To schedule a consultation, please click on the "Request a Consultation" button below and fill out the Contact form. Our Sales Manager, Magelan Ferreira, will respond to your request to arrange a consult with Mr. Neely.