Elliott Wave Counting of Dubai Financial Market Index

A reader has posted a comment that he ran into trouble with the rule that the 3rd wave cannot be the shortest. (I bought your book and reached the “Rules of the game” Tried to implement it on the DFM Index Chart Starting from the March 2011 bottom i started marking.

I marked end of wave 5 at the end of April 2011 end, but when i tried to apply the rule “Wave 3 can never be the shortest impulse wave” it didn’t work (March 15 to March end). Please advise what i need to do next or you could you mark the DFM index chart)

So today’s post is just an example. (Unfortunately I won’t be able to do this every time a reader has difficulty in counting the waves of a stock that he is interested in!! But my suggestion is to follow the rules as explained, and change your count where necessary)

The most important point is this: don’t worry about having to change your count later on. So long as you are foillowing the rules and guidelines you should be able to take low-risk positions. If you want to tweak the count to suit your personal views, then you are taking the wrong path.



5 Comments

  • Fahad

    Good morning Ramki,

    thank you for this intersting website, but i wanna buy the book but its access denied from KSA also amazon it couldnt as i dont have a USA address, anyhow i would know is it available in kuwait or Dubai or in GCC?!! is there any way?

    i know its strange but i would like to learn from this book first.
    thank you
    Fahad

  • Fadi

    Hi Ramki,
    Appreciate if you got a time for Dubai index update.
    Long time based from the last one.
    Thank you

  • salim

    thanks for the information about the wave counting of DFM index, one thing only is concerning me, which the internal structure of wave 5, which is as per the chart , it is showing three waves and as you know wave five must consists of five internal waves!

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