Diametric Pattern

Diametric Pattern

In Mastering Elliott Wave (MEW) , Glenn Neely cover general TIME relationships as they apply to impulsions and Below is a description of how TIME behaves Diametrics.

DIAMETRICS (7 segment patterns)

1. These patterns began to appear in the early 90's as the market's way to adjust to the increasing popularity of wave theory (too many people were looking for the same things, so the market created new ways of behaving).
2. They were the first patterns I witnessed where most wave segments took about the same amount of time, with one or two of the waves consuming a little more (or little less) time than the others.
3. While most waves consume a similar amount of time, they do NOT consume a similar amount of price. A Diametric will possess an obvious expansionary or contractionary bias during the first four waves of the pattern; that bias will reverse during the second half of the formation. 

source: neowave.com

BEL

• BEL - The move from start of 2012 till june 2012 may not be considered as last leg of the entire correction, as the prior wave before 2012 is not strong enough to be wave B.
• The move from start of 2012 to date may be wave (b) of B.
• The next move needs to be a strong impulsive , 5.66 ~ 6.5. to validate wave (b) of B.

LC - going impulsive

LC - 

alternation of two corrective waves (3)(3), where the 2nd corrective wave (3) is more complex and time consuming. The first impulse (5) is the sharpest, followed by the next impulse (5)with the same amount of acceleration. next impulse (current wave) may be slower in terms of acceleration. 5th wave extension? maybe...maybe not.

related chart - lc-on-corrective-phase (21june2012)

PAXYS - doing a strong B?

PAX - now doing a strong B? immediate target @ near  ~3.34

related readings Paxys Chart - 26June2012

BLOOM

Bloom - slowly inching up north, slightly above 50ma.

RSI still below 50.

Dizon Copper-Silver Mines, Inc.

Diz - weekly

Paxys

Paxys, one of my current stock for long term position.

IP Egames Venture

shared this chart last 28april 2012, one of my current position.

MEG

MEG 

Neely Quotes

"The Wave Theory is a relative phenomenon. It does not matter how complex or simple a pattern is; what matters is whether the pattern is Corrective or Impulsive in nature. That will tell you how to handle, combine, interpret and trade market action."
pages 9-9 Mastering Elliott Wave


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Bloom - nearing its time 

LC - on corrective phase. As long as the price moves within the range near/above 1.38, the next impulse will be higher 1.68++. If it goes lower the next impulse may fail to breach 1.48.