Double zigzags

[Beleth]

Hello,

I've been searching for a decent EW forum, but there just aren't that many. This one seems nice enough. :)

I have a question about double zigzags. None of the books seem to have the answer. In a double zigzag W-X-Y, must Y always exceed W, or is it just a guideline?

[TS Hennessy]

(07-23-2011 06:15 PM)Beleth Wrote:  Hello,

I've been searching for a decent EW forum, but there just aren't that many. This one seems nice enough.

I have a question about double zigzags. None of the books seem to have the answer. In a double zigzag W-X-Y, must Y always exceed W, or is it just a guideline?

Hi Beleth, and Welcome to NEWR.

I'm glad you found that our forum suits you. We are nice

The NEWR book does have the answer. We are in fact so nice we will
relieve you of all problems dealing with W, X and Y entirely.

The NEWR is going to simplify much of what has been tacked on as
a result of not knowing what was happening regarding extensions.

Extensions do not exist and neither does anything else but 1,2,3,4,5
and A,B,C.

It is important to see what the waves are actually doing so
do check out the NEWR book.

If you have any particular example in mind feel free to post it.

[Beleth]

Ah. I started reading the book. An example would help though. At first I thought wave (2) in this chart was a double zigzag (with the second one not exceeding the first one), but now I think it looks more like a zigzag - flat combination, just like the 4 of (3).

How would this look according to the NEWR?

   

[TS Hennessy]

(07-25-2011 08:10 PM)Beleth Wrote:  Ah. I started reading the book. An example would help though. At first I thought wave (2) in this chart was a double zigzag (with the second one not exceeding the first one), but now I think it looks more like a zigzag - flat combination, just like the 4 of (3).

How would this look according to the NEWR?

More info is needed. What is coming up when I google this is:

SNG1L Details

AB Snaige engages in the manufacture and sale of refrigerators and refrigerating equipment in Lithuania and internationally.


Is this right?

[Beleth]

Yep. Is the company's business model really relevant to wave counting?

[RayH]

(07-27-2011 05:16 PM)Beleth Wrote:  Yep. Is the company's business model really relevant to wave counting?

Hi Beleth,

To get an accurate count (in either EWT or NEWR) you need as much historical data as you can get.

Although the chart you posted appears to have good detail, in my experience wave counting is easiest when you have a highly liquid instrument. It is easier to form a count on currency pairs, commodities and share indices and also highly traded individual equities because the Wave Theory describes aggregate human behaviour so the more market participants the better. It sounds like SNG1L might be a relatively small cap equity although I could be mistaken.

With the NEWR, the (2) you have marked is not the lowest point after your (1) so would not fit. The first 'W' would likely be the (2). The 'B' in March 2010 is then the '1' of the next 5-wave up.
BUT without more historical data it would be difficult to get a more accurate count...

[freelancer]

Beleth,
the whole thing is a zig-zag - your wave 3 is A - and then follows a triangle and then - then it is easy to spot the internal waves of wave C .