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Elliot Wave Analysis

  • #321
  • Apr 10, 2018 9:56pm Apr 10, 2018 9:56pm
usdcad also the same picture it has almost touched the 61.8 retracement for the last major wave. Since the invalidation line is broken, it can go down to almost the start of the 1st wave so keeping away from it until i see signs of something impulsive to the top. if oil breaks 66.52 then it's core bullish and no stopping it for a pretty long time. if you are still in the position and can afford a stoploss of 66.52 then hold on else cut the position.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uc5.png Size: 30 KB
Click to Enlarge Name: uc6.png Size: 31 KB
Click to Enlarge Name: oil2.png Size: 39 KB
STING
  • #322
  • Apr 10, 2018 11:39pm Apr 10, 2018 11:39pm
Great thread, subscribed here.
astroganndotcom
  • #323
  • Apr 10, 2018 11:55pm Apr 10, 2018 11:55pm
Quoting stringfx
usdcad also the same picture it has almost touched the 61.8 retracement for the last major wave. Since the invalidation line is broken, it can go down to almost the start of the 1st wave so keeping away from it until i see signs of something impulsive to the top. if oil breaks 66.52 then it's core bullish and no stopping it for a pretty long time. if you are still in the position and can afford a stoploss of 66.52 then hold on else cut the position. {image} {image} {image}
Okay Sting, I put a SL for Oil to 66.52, by expecting the price will come down. Now let us see how things are developing.
  • #324
  • Apr 11, 2018 12:42am Apr 11, 2018 12:42am
Quoting pije76
Great thread, subscribed here.
thank you for the kind words.
STING
  • #325
  • Apr 11, 2018 12:45am Apr 11, 2018 12:45am
DXY

US index has been disappointing although there is still hope. If this wave down breaks below 61.8 retracement with a 4 hour close i will turn bearish on Index. if there is an impulse move after touching 61.8% there is still hope for the dollar.
Attached Image (click to enlarge)
Click to Enlarge Name: index 2.png Size: 46 KB
STING
  • #326
  • Apr 11, 2018 10:55am Apr 11, 2018 10:55am
time to change view about dxy.

bearish until 86.43 at least. Wave 5 was not complete and is in progress. Here are a couple of charts.

first chart is weekly.
2nd is daily
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dxy2.png Size: 29 KB
Click to Enlarge Name: dxy3.png Size: 37 KB
STING
  • #327
  • Apr 12, 2018 1:34am Apr 12, 2018 1:34am
Hi, what do you think about this count on CADCHF?
I missed the up move and if this count is correct I wanna sell the 4 wave at least

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 62 KB


Thanks
We can't control the sea, but we can learn how to surf the waves.
  • #328
  • Apr 12, 2018 1:54am Apr 12, 2018 1:54am
GBPUSD Elliot Wave 1H Chart suggested count

http://www.electoo.com/?p=56
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD EW 1H 12-04-2018.png Size: 97 KB
  • #329
  • Apr 12, 2018 2:33am Apr 12, 2018 2:33am
EURUSD 1H Chart Elliot Wave
http://www.electoo.com/?p=60
  • #330
  • Apr 12, 2018 5:05am Apr 12, 2018 5:05am
stringfx,

ref. to you post #325:
Here is the Dollar-Index chart since 1975.

Sixer
Attached Image (click to enlarge)
Click to Enlarge Name: DXY-LT.png Size: 111 KB
  • #331
  • Apr 12, 2018 5:48am Apr 12, 2018 5:48am
Quoting aariapoor
Hi, what do you think about this count on CADCHF? I missed the up move and if this count is correct I wanna sell the 4 wave at least {image} Thanks
your count looks good
STING
  • #332
  • Apr 12, 2018 5:49am Apr 12, 2018 5:49am
Quoting mshaheen
GBPUSD Elliot Wave 1H Chart suggested count http://www.electoo.com/?p=56 {image}
thanks for the chart . considering a bearish move on dxy, looks very nice for an upmove.
STING
  • #333
  • Edited 7:41am Apr 12, 2018 6:10am | Edited 7:41am
Quoting Sixer
stringfx, ref. to you post #325: Here is the Dollar-Index chart since 1975. Sixer {image}
thanks for the chart sixer.

the down move on dxy just goes to indicate there is one more low before a bounce but you can never tell with these 5th waves. a prime candidate for truncation. i already have a long term chart with EW marked. just cant seem to pick the right bottom especially on wave 5's.

do you have a bias.. if yes please post a daily chart. thanks a million .
STING
  • #334
  • Apr 12, 2018 8:56am Apr 12, 2018 8:56am
Quoting stringfx
{quote} your count looks good

Here is my count on cadchf ... although i dont trade this pair. this pair seems quite bullish even with relative strength.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf1.png Size: 25 KB
STING
  • #335
  • Apr 12, 2018 11:59am Apr 12, 2018 11:59am
Quoting mavilakandy
Hello Sting, Please provide me if you have the information of (average) maximum daily range of major pairs like EURUSD, GBPUSD, USDJPY, EURJPY, GBPJPY, etc... Thanks,
I use ATR 60 days period, it works perfict combined with daily pivots.
  • #336
  • Apr 12, 2018 12:12pm Apr 12, 2018 12:12pm
Yo dude @stringfx your 10k account gone nearly 2.5k
  • #337
  • Apr 14, 2018 2:55am Apr 14, 2018 2:55am
Quoting sureshhacker
Yo dude @stringfx your 10k account gone nearly 2.5k
yes .... that's what happens when i go overboard and be overconfident with my trades... but then it's a demo you can only do these things in a demo. anyway i lost between 6 and 7 % in my live account also in the last month. Need to recover all that lol
STING
  • #338
  • Apr 15, 2018 12:00am Apr 15, 2018 12:00am
Hello Sting,
Last week it was bad. Things did not not happen as per our expectations. Yes, that is forex market. We would have been very rich by now if everything happened as per our wish. Anyway, let us continue our experiment with EW theory. I would appreciate if you please update your charts for major ccy pairs including GBPNZD.
Thanks,
  • #339
  • Apr 15, 2018 2:03am Apr 15, 2018 2:03am
Quoting mavilakandy
Hello Sting, Last week it was bad. Things did not not happen as per our expectations. Yes, that is forex market. We would have been very rich by now if everything happened as per our wish. Anyway, let us continue our experiment with EW theory. I would appreciate if you please update your charts for major ccy pairs including GBPNZD. Thanks,

Hi Mav,
i am not a full time trader, so there is a possibility i can go missing sometimes as my work demands it but i have not given up on EW. I think it is one of the best tools out there to forecast the sentiment of the traders as well as forecast the future prices in this vicious market. It will be difficult to decipher every pattern unless you are spending all the time with just 1 pair and follow it religiously but then you miss out a lot on other instruments. It is quite important to notice the relative strength of the currencies to see which ones are strong and which ones are weak. i like to do EW of the strong against the weak but i do not do exotic pairs as well. i only do exotic pairs when there is a request. check this link for relative performance. https://finviz.com/forex_performance.ashx?v=3

i only check until monthly.

on the monthly of you notice , CAD, GBP and NZD are quite powerfully trending up while CHF, AUD and JPY are trending down. Now if you would have taken even a small position on cad/jpy or gbp/jpy in the beginning of the month or even before that you would have made enough money (although not so easy as i say it). on gbp/jpy it has moved almost 900 pips to the upside and cad/jpy has moved around 550 pips (although catching it so early is difficult). but if EW is drawn on pairs like these there is a lot of scope.

In your case you seem to be interested in GBP/NZD as it is one of the most volatile pairs but on relative strength both the currencies are moving up strongly, so it's not a favorable choice to trade at the moment there will be a lot of whipsaws as a proper trend cannot be established. I hope you understand what i am trying to convey.

Check the weekly performance as well from the picture.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: monthly RP.png Size: 23 KB
Click to Enlarge Name: weekly RP.png Size: 22 KB
STING
  • #340
  • Apr 15, 2018 2:07am Apr 15, 2018 2:07am
Quoting stringfx
{quote} Hi Mav, i am not a full time trader, so there is a possibility i can go missing sometimes as my work demands it but i have not given up on EW. I think it is one of the best tools out there to forecast the sentiment of the traders as well as forecast the future prices in this vicious market. It will be difficult to decipher every pattern unless you are spending all the time with just 1 pair and follow it religiously but then you miss out a lot on other instruments. It is quite important to notice the relative strength of the currencies to...
Hello Sting, thanks for the explanations.
Regards,
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