October 2012
Intermediate to advanced
250 pages
6h 3m
English
book
Timing Solutions for Swing Traders: A Novel Approach to Successful Trading Using Technical Analysis and Financial Astrology
by Robert Lee, Peter Tryde
Content preview from Timing Solutions for Swing Traders: A Novel Approach to Successful Trading Using Technical Analysis and Financial Astrology
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
WAVE 5
Wave 5 is the last impulse wave of the five-wave structure. At Wave 5, it is most common to find divergence between directional movement of price and the momentum oscillator. The target of Wave 5 is normally about 0.618 of the distance covered by Wave 1 and Wave 3, plotted from the low of Wave 4.
If Wave 5 extends, then the probable target is about 1.618 of the distance covered by Wave 1 and Wave 3. When Wave 5 does not extend, it could be retraced entirely by Wave A of the corrective A-B-C pattern.
A fifth wave’s failure means that Wave 5 fails to move above the end of Wave 3. A failure in Wave 5 could occur when Wave 3 is the extended wave. In such an instance, Wave 5 will relate to Wave 1 in price by 38.2 percent to 61.8 percent. Wave 5’s failure usually happens when it is the fifth wave of a larger impulse Wave 5 pattern. Wave 5 could also develop into a diagonal triangle. A diagonal pattern development at Wave 5 usually signals the termination of the trend. (See Figure 4.5.)
FIGURE 4.5 A fifth-wave failure, ending in a diagonal triangle pattern, signals the termination of the uptrend.
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.