Читать книгу Supertiming: The Unique Elliott Wave System - Robert C. Beckman - Страница 25

In subsequent chapters I will show how to use these hourly movements as a departure point in order to assist in wave classification. In the meantime, one can try a few practice runs with our Elliott Wave Principle. Attempt to determine the last important pivotal point in your favourite stock market index. From that pivotal point attempt to build a wave pattern, starting with the smallest movement. Naturally you will need an hourly chart of the index to do this.

Should the last important pivotal point have been, say, two weeks ago, you will want to build the hourly movements from that date. You will start with the sub-minuette moves that are the tiniest one can record. When you have completed the first cycle, you will find that you have also completed Waves 1 and 2 of the waves of the next higher degree, the minuette cycle. You then continue your monitoring of the hourly moves in search of a completion of a second complete cycle. When you have completed the second complete cycle based on the hourly move in the sub-minuette form you will also have completed Waves 3 and 4 of the moves of a minuette cycle, no doubt involving a longer time frame.

The final move that you will be looking for will be a “five-wave” in the sub-minuette cycle which when corrected will produce the first part of a larger wave which acts in correction of the minuette cycle. The corrective phase of the minuette cycle will be larger than any of the corrective waves within the upward phase of the sub-minuette cycle and will also be larger than any of the corrective waves which complete the three sub-minuette cycles.

Upon completion of the corrective wave of the minuette cycle, you will then have completed Waves 1 and 2 of the cycle of the next higher degree upward, the minute cycle. And so you will build, higher and higher, completing cyclical forces of greater and greater amplitude, while using the simple tenets established regarding the behaviour of the waves in order to plan your investment strategy.

I am fully aware that at this point in your introduction to the Wave Principle the tools at your disposal may appear limited, while the development of cycles of increasing magnitude may appear somewhat confusing. It is that particular characteristic of the Wave Principle that usually causes the most difficulty. In subsequent chapters we will discuss the aids that will help you in this respect.