The Magic of Elliott Working for Profits

Some of you may already be familliar with Elliott, but find it particularly difficult, and think that its forecast value is limited at best, although retrospectively, any Elliottician can tell when a pattern is complete.

But what if you could take advantage of the strongest moves in the Elliott wave series, those with the strongest predictive value? Which ones are those dream patterns?

We known in general that a wave 3 is the strongest and longest of the impulse waves, but did you know that the third wave or a corrective zigzag can also be quite strong. Did you further know that zigzags can occur also in upside patterns? That is right. It matters very little whether you are in a bullish or a bearish market, you should be able to located candidates about to enter wave C of a zigzag or wave 3 of an impulse. Both these waves are predictable base on the wave A and B patterns of a Zigzag and wave 1 and 2 of an impulse.

Rich Swannell, founder of Elliottician and developer of RET claims that his software can pick these patterns and predict a higher target (or lower in a bearish trend) with a high degree of certainty.

The problem is that RET does not have a search capability, so you'd have to bring your own candidates to evaluate with RET. For that, you need search criteria of your own.

In my DVD series "Stock of the Day", Disk I, I explain how I have created a scan or search routine for bullish and another for bearish candidates that can very well fit the A-B pattern of a zigzag, or the 1-2 pattern of an impulse. However, you may still have to go through a long list of candidates to select the ones that have a truly recognizable pattern. But, it is definetly a good start.

Both wave A of a ZZ and wave 1 of an IM, have an impulse pattern of 5 waves, and should be easily identifyable by the trained eye. Next, you need to recognize a completed corrective pattern (wave B of a ZZ or wave 2 of an IM). What you'd be forecasting with a high degree of certainty is an impulse wave, which should match the first wave of the sequence. It really matters little whether the whole pattern completes as a ZZ or an IM. However, in either case, you can use RET to confirm your expectation and give you a target area to reach and a time schedule to reach it by.

First, go to the Ellittician site and follow this tutorial videos:

http://www.elliottician.com/en/fasttrackvideocourse.html

Notice, however, that Swannelle does not deal with the issue of candidate selection. He simple uses AAPL and the Canadian Dollar to illustrate his system. But that is OK, We will bring our own. If you have not done so already, send me an e-mail at paperprofit1@gmail.com and request my series of DVD's named "The Stock of the Day". I am not charging much for these, just enough so that they can be delivered to you and to pay for production costs. My goal is not make money, I already make money with my trading. But I think you'll see how easy it can be to pick candidates for Swannell's strategy by revewing my disk I.

All I ask is that you Pay It Forward by doing something big for someone that cannot do it for him/herself, preferably a complete stranger, so that good will is created in the world. Remember that lasting wealth can only come from service to others. This would be one way to fulfill this basic requirement.

RET is not cheap, and only you could decide if it is for you, but it won't hurt for you to look at tutorials and see if they fit your game plan. Here are two examples that I picked today using my search criteria and tested using RET.






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Time will tell how well we do. However, I do estimate that by using the PCCRC we protect ourselves against an unpredictable move down in each stock.

By the way, I really don't make judgements about the whole market. So if you are bearish, you may want to look at some bearish candidates as well. I just did not find any today.