Originally Posted by
relmor2003
O , sorry, my bad. Definately was no crticism or correction at all.
Just looking at your chart, and aswering Irish's question about it. Good information. Just speaking generally, not necessarily about SiriusXM. Most elliot wave users dont use it to day trade, but like you said, identify, and define ranges, and turning points. Also useful with cycle theories.
And I dont bother with disecting sub waves past abc of major 1, for example. Im giving .17 to .63 credit as a major 1 wave, due to the time its spent under .63. Every day longer, more validates that as a major breakout point, for the next higher ranges. If .63 cents held back then for only 1 week, then the major wave 1 up, dominant trend count would start higher.
It would be silly to say wave 2 lasted one day, then major wave 3 started the next day too, and went to .67. LOL Its fun TA thats for sure. Fib. counts are crucial in elliot wave theory.