Hi Van
So long ago since I read books, its completely lost. Others on HC can be of more assistance in where to go and have a look. Some of the HC posters here I use to adjust my interpretations.
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Have a look at the basics, E-waves, various other charting patterns and tools ( Trends, Higher-highs & Lower-lows, Different moving averages and cross-overs, RSI , MACS , Stochs, cup & handles, double tops and bottoms, to name just a few) and FIB's (which I find very useful) are the subjects to start with to get and understanding. Then look and play with various charts. I simplified/adapted EW's through experience. I am not a classical EW chartist, as with the chart interpretations its far to easy to get lost. My experience with them is that only in hindsight they can make sense, but not when they are playing out. Far too many false starts/endings or wrong turns. That could be only my experience.
Notice with my chart interpretations that there are weighted alternatives to how it can play out. The charts give signals as to which alternatives chances lessen and which intensify as time goes by.
Remember to look a a given chart in different time frames as they all tell stories. My main reference chart,& tools is the weekly candles interpreted with my signals, Then daily for closer focus, but never ignore the monthly for a guide to overall trend (the PLS monthly chart for the last 4 months doesn't tell a good story). If I am trying to see if a stock is being played with, then I look at the hourly charts (PLS is a good example of this as well).
My interpretations are never perfect or even close to that. They are just a guide to possible outcomes and to minimise risks
I hope I am making sense. If I take a very experienced horseman to the races and listen to him as he watches the horses in the parade ring and on the way to the barriers. Firstly he will identify those that appear very fit and those that appear unfit , some elimination. Horses that show are comfortable in their surroundings in the parade ring and those that are very uncomfortable, sweating up, fractious or spooked, more elimination. Also watching as the jockey get on and then goes to the barriers, more elimination as the behaviour can change with the jockey onboard.. Then he will ask me to look at the form to see which horses are trained on the track or have won or placed at the track, more elimination. A very good horsemen will then provide me three runners out of field of twelve in descending order or those he favours without a detailed look at form. Does the winner always come from the three horse? No.
But my chances are higher than without his guidance.
So that's how I try to use the charts to eliminate dud situations and heighten the favourable situations. The FIB's help me set targets.
Long winded, but you did ask. So DYOR
cheers Lies
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