Sunday, November 22, 2015

Three Examples of Long Term Elliott Log Trend Channels

Long term viewers of my YouTube channel will recall these posts, which were done as live updates at the time, showing the long term trend logarithmic channels in monthly Crude Oil ...

...and in monthly Gold.
To these .. one can add a two-weekly log channel in the Dow Jones Industrial Average, as below.
For each chart, the pattern of alternation is clearly stated. The last chart, that of the Dow also includes one of my favorite indicators. With 120 - 160 candles on the chart, wave iii of 3 is always at the maximum of the Elliott Wave Oscillator, the next major divergence is wave 3, and wave 4 should travel to or below the zero line - just as it has - but not more than 40% of height attained on wave 3 to the opposite side - the lower side - of the zero line... just as it has.

Elliott tells us to chart in log format for long term charts (weekly, monthly annually), but arithmetic is acceptable for shorter term charts (weekly, daily, hourly).

Cheers and enjoy the charts!

1 comment:

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