emehoke

mastering elliot waves. whats lean cattle doing?

Education
CME:LEQ2021   Live Cattle Futures (Aug 2021)
Lean cattle, given the selection of m1 that I have chosen to focus my attention on, is showing Rule 7, condition c.

This is an unfortunate selection for the lazy-hearted. Rule 7 Condition c has a lot of extensions, and given the different circumstances could be labeled with an F3, L3, L5, or sL3. I still don't know what those mean, but I can draw some conclusions based off of how the author is writing that an "Irregular Failure Flat" is linked to L5's, "Contracting Triangles" are linked to L3's, "Expanding Terminal Impulses" are linked with :sL3, and "Running Corrections" are also linked to L5's somehow. Furthermore, I don't know what those terms mean, but I am confident that I haven't drawn any false conclusions. Why doesn't this book come with flashcards?


I can't label m1 all of these things. I will now choose the description that I think fits it most closely:


I selected ":F3" because -- if m1 takes the same amount of time (or less) as m0 or m1 takes the same amount of time (or more) as m2, despite any other circumstances, ":F3" is a good possibility; place ":F3" at the end of m1.

The other choices all needed too many things to be true for them to be the proper designation.

The next closest was an ":L3" designation. I discarded this idea because m2 was supposed to be sharper than m2 and it is not. m0 was very sharp on this one. This was the contracting triangle one, which I don't know what that means exactly, but it does break out of a triangle to the casual viewer.

What do you think would you place an F3 or an L3 at the end of m1?

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Wow, this was a ton of work to come up with a shaky conclusion. Looks like I need to read ahead a little because I have no idea how F3 fits into anything anyways.

Here is the definition of (F3):

This structure label is the abbreviation for "First three (3)." An ":F3" either starts a series, occurs after an "x:c3" or is found between two ":5's" (all variations). If you find two ":F3's" next to each other, a new pattern (of a smaller magnitude) begins with the second ":F3." Circle the start of both ":F3's", but do not attempt to connect the two until the second ":F3" can become part of a polywave pattern using waves which proceed it (a polywave is an Elliot pattern composed of three or more monowaves).

It goes on to give a couple lists of how an F3 would fit into a sequence. An example of that would be

1. ? - F3 - c3 - L5 (circle start of F3).

...And so on.

This is mostly just to say none of this really makes sense to me right now, but I have to keep trying to shape these ideas or else I won't be able to use any of this info. I don't really like this book. I have to read every passage several times to make it stick :/ ... Not nearly as enjoyable as looking for simple patterns.

I was going to give more accurate take on live cattle vs feeder cattle, but now I'm kind of bummed so I'll do that another time perhaps.
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