The Ultimate Technical Analysis Handbook - Tradingportalen.com
The Ultimate Technical Analysis Handbook - Tradingportalen.com
The Ultimate Technical Analysis Handbook - Tradingportalen.com
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Chapter 3 — How To Integrate <strong>Technical</strong> Indicators Into an Elliott Wave Forecast<br />
Figure 9 (Live Cattle) illustrates exactly what I<br />
want this indicator to do: alert me to the possibility<br />
of rejoining the trend. In Figure 10 (Soybeans), I<br />
highlight two instances where the Hook technique<br />
worked and two where it didn’t.<br />
But is it really fair to say that the signal didn’t<br />
work? Probably not, because a Hook should really<br />
just be a big red flag, saying that the larger trend<br />
may be ready to resume. It’s not a trading system<br />
that I blindly follow. All I’m looking for is a headsup<br />
that the larger trend is possibly resuming. From<br />
that point on, I am <strong>com</strong>fortable making my own<br />
trading decisions. If you use it simply as an alert<br />
mechanism, it does work 100% of the time.<br />
Figure 9<br />
Figure 10<br />
<strong>The</strong> <strong>Ultimate</strong> <strong>Technical</strong> <strong>Analysis</strong> <strong>Handbook</strong> — © 2009 Elliott Wave International<br />
This ebook includes handpicked lessons from more than 200 pages of EWI’s <strong>com</strong>prehensive<br />
Trader’s Classroom Collection of eBooks. Learn more here: http://www.elliottwave.<strong>com</strong>/wave/ClubTCC<br />
10
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