Elliott Wave
Glossary

TradeCheck

When you're a Member you can use the TradeCheck form to get the latest analysis on a particular code/index/forex.
We'll get back to you usually within the hour. (Business hours, Sydney, Australia time)

Robo Method

A mechanical trading system that has clear entry stop and trade management.
The real beauty of this method is that it keeps you on the right side of the market; it tracks the direction and helps manage the risk. We use it for intraday trading, short term, trend and managing portfolios.  
There is a basic version and an advanced version.
We use Daily Robo, Hourly Robo, 2 Minute Robo and so on. They are used daily in our service and will be taught to you as part of our service.
You can see some of the training videos HERE

Switch Trading System

Is a very high probability market entry system use in all trading time frames
This is taught to you along with other trading techniques with the service
Accumulation: purchase of stock over time –
Phase 1 of the buying process
Phase 2 is the marketing up of prices to attract public
Phase 3 Distribution selling into the expanding volume

Phase 4 marking down driving price down 

You'll be able to watch some of the training videos HERE

Supply

Resistance/ sellers


Scaling

Breaking down initial position size into smaller parcels to manage the risk better, gaining more control. Here at TradingLounge we usually enter a trade in thirds.


Using levels as stops

If you're entering a long position into a market above a Major TradingLevel with the classic set up, then place the stop directly under the Major TradingLevel, also understand the MinorLevels surrounding the Major or MediumLevel’s as they will come into play. The Market Depth orders are also a further refinement

If you are already in a trade and its moved up through a MediumLevel and its coming back to retest the MediumLevel then you need to give it room to move, you cannot for instance place the stop at the MediumLevel as you will only trigger that stop and you may as well get out before that happens. You need to consider the levels under the MediumLevel as stops, if you feel carrying that much financial risk is out of your financial risk parameters then reduce the position size or simply exit from the market. Markets tend to vibrate around the levels this needs to be considered with your own judgement.
 
Essentially you shouldn’t move stops unless the next level of support has been tested. Otherwise if you are using the Robo Method, and still using the Minor and Sub Minor Levels along with the Market Depth this can deliver better results.

Five main levels groups:


1.Major TradingLevels

Abbreviated as (TL)
1, 2, 3, 5, 8, 10, 13, 20, 30, 50, 80, 100… and so on
As an example TL1/1, TL1/100, TL2/2, TL2/20, TL3, TL5, TL8, TL13

2.MediumTradingLevels
Abbreviated as (ML)
1.5, 2.5, 4, 6.5, 9, 11.50, 15, 16.50, 25, 40, 65, 90, 150… and so on
As an example ML150, ML250, ML4, ML650, ML9, ML1150, ML15, ML1650, ML25….

3.Minor TradingLevels
Abbreviated as (mTL)
0.1,0.2,0.3,0.5,0.8,1.1,.1.2,1.3,1.5,1.8,2.1… and so on
As an example mTL1, mTL2, mTL3, mTL5, mTL8

4. Sub Levels
Abbreviated as (sTL)
As an example: sTL1/$20.10, sTL2/$20.20, sTL3/$20.30, sTL5/$5.50, sTL5/$0.65, sTL72/ $0.72, sTL8/$0.80 … and so on

5. TradingLevel 72
Abbreviated as (72)
A) $0.072, $0.72, .72, $7.20, $72, $720, 7200pts…. and so on
B) $1.72, $2.72, $3.72, $4.72, $5.72, $6.72, $7.72, $8.72, $9.72, $10.72… and so on
C) Trading Indices 5072, 5172, 5272, 5372 so on...
D) Day Trading between One Dollar $35.72, $36.72...
E) Day Trading Forex 0.7872...

Example of TradingLevels formula together
When working on say, the price of 18, which is partly: TL1/10 and a Minor TradingLevel (that’s 0.08) then working together its written as mTL8.

The TradingLevels® Formula also includes some special number groupings:


TradingLevel  MinorGroup1
Abbreviated as (MG1)
are the MinorLevels 1,2 and 3. Two examples would be say MajorTradingLevel1 TL1/ $1.00 and MinorGroup1 would then be $1.10, $1.20 and $1.30.
If it was TL2/20 then MinorGroup1 would be MG1/$21, MG2/$22 and mTL3/$23

TradingLevel  SubGroup1
Abbreviated as (SG1)
SubGroup 1 is made up of the SubLevels 1,2 and 3. Two examples would be say Minor TradingLevel mTL2 $22.00 and SubGroup1 would then be $22.10, $22.20 and $22.30.
If it was TL5/50 then SubGroup 1 would be $51.10, $51.20 and $51.30

TradingLevel  MinorGroup2
Abbreviated as (MG2)
are the numbers 65, 72 and 80. As an example $1.65, $1.72, $1.80.

TradingLevel  SubGroup2

Abbreviated as (SG2)
SubGroup 2 is also the numbers  65, 72 and 80
Two examples would be say Minor TradingLevel mTL2 $22.00 and SubGroup2 would then be $22.65, $22.72 and $22.80.
If it was TL5/50 then SubGroup 2 would be $51.65, $51.72 and $51.80
NOTE: Charts show Support & Resistance
Abbrevieated by (S/P)

There are examples of these in the videos in the »TradingLevels Fast Track Intro

Guide to Elliott Wave

Submicro   (1)   (2)   (3)   (4)   (5)   (A)   (B)   (C) 
Micro   1)   2)   3)   4)  5)    A)   B)   C) 
Subminuette   i   ii   iii   iv   v   a   b   c 
Minuette    (i)   (ii)  (iii)  (iv)  (v)  (a)  (b)  (c) 
Minute Wave   i)  ii)  ii)  iii)  iv)  v)  a)  b)  c) 
Minor Wave    1  2  3  4  5   A  B  C  
Intermediate Wave  (1)  (2)  (3)  (4)  (5)  (A)  (B)  (C) s
Primary Wave  1)  2)  3)  4)  5)  A)  B)  C) S

 

Basic Wave Structure

 

 

NOTE: The wave numbers/ text with a half bracket represents full circles.

The colouring is just my thing to help with identification.

GRAND SUPERCYCLE

With the Trend    (I)  (II)  (III)  (IV)  (V)
Against the Trend ( A )  ( B )  ( C )

SUPERCYCLE
With the Trend      I)  II)  III)  IV)  V)
Against the Trend    A)  B)  C)

CYCLE
With the Trend   I   II   III   IV   V
Against the Trend   A  B  C

PRIMARY
With the Trend    (1)  (2)  (3)  (4)  (5)
Against the Trend    (A)  (B)  (C)

INTERMEDIATE
With the Trend    1)  2)  3)  4)  5)
Against the Trend   A)  B)  C)

MINOR
With the Trend     1   2   3   4   5
Against the Trend    A  B  C

MINUTE
With the Trend   (i)  (ii)  (iii)  (iv)  (iv)
Against the Trend    (a)  (b)  (c)

MINUETTE
With the Trend   i)  ii)  iii)  iv)  v)
Against the Trend   a)  b)  c)

SUBMINUETTE
With the Trend   i   ii   iii   iv   v
Against the Trend    a  b  c