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Elliott Wave Trading

  • #8,881
  • Nov 22, 2018 9:15pm Nov 22, 2018 9:15pm
Never yet met a consistent Elliot Wave Trader. Ask for their live trade logs or for the expectancy of their method. I guarantee you won't get them.
  • #8,882
  • Nov 22, 2018 10:26pm Nov 22, 2018 10:26pm
Opposing views do exist in every markets and be regarded.
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,883
  • Edited 4:20am Nov 23, 2018 3:36am | Edited 4:20am
Quoting skyhok
Opposing views do exist in every markets and be regarded.
True, even a broken clock is right twice a day that being it a 12hr one.

Forget his name. just googled it (Todd Gordon) so obviously didn't impress me. A senior guru trader on CNBC users Elliot Wave and was sharing his analysis so I began logging his calls. They weren't impressive at all. risk/reward, hit rate, market expectancy was in the red. And how about the EW guys doing a seminar in Las Vegas recently got caught changing the swing labels...lol. That was kept quiet, but the people knew about it. Plus 99% of users today don't even use it as it was designed by Ralph Nelson Elliot.

Markets only trend about 30% of the time. How does Elliot wave perform in a consolidation market? It doesn't, as it a trend following system, therefore, you just knocked yourself down to 30% opportunity.

Although some of the best traders have a low win/loss ratio their wins are 3 -5times greater. For example Ed Seykota, probably the greatest trader of all time.,and Paul Tudor Jones 20% hit rate but his targets are always at least 5 times. Turtles never used EW either.

The thing is if a system doesn't have a statistical mathematical edge then you will never win the end game. Must have positive expectancy. Even a bad trader with good risk management, position sizing, good psychology and a system with positive expectancy can beat the street.
  • #8,884
  • Nov 24, 2018 7:01am Nov 24, 2018 7:01am
Quoting pjpipster
{quote} True, even a broken clock is right twice a day that being it a 12hr one. Forget his name. just googled it (Todd Gordon) so obviously didn't impress me. A senior guru trader on CNBC users Elliot Wave and was sharing his analysis so I began logging his calls. They weren't impressive at all. risk/reward, hit rate, market expectancy was in the red. And how about the EW guys doing a seminar in Las Vegas recently got caught changing the swing labels...lol. That was kept quiet, but the people knew about it. Plus 99% of users today don't even use...
I felt the same a few years back when I wasn't getting anywhere with Elliott Wave, but realized that I wasn't learning anything about it when I was hating it.

So I started studying anything on Elliott Wave that I can get my hands on, and learned what's working and what's not, at the same time discovered a few techniques that ties it all together nicely.
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,885
  • Nov 24, 2018 1:06pm Nov 24, 2018 1:06pm
Quoting skyhok
{quote} I felt the same a few years back when I wasn't getting anywhere with Elliott Wave, but realized that I wasn't learning anything about it when I was hating it. So I started studying anything on Elliott Wave that I can get my hands on, and learned what's working and what's not, at the same time discovered a few techniques that ties it all together nicely.
But brother your charts never passing Elliott wave. Could you please elaborate more about your wave techniques.
  • #8,886
  • Nov 24, 2018 1:16pm Nov 24, 2018 1:16pm
i should read this thread...good work skyhok...
  • #8,887
  • Nov 27, 2018 5:46pm Nov 27, 2018 5:46pm
Quoting skyhok
{quote} Good to see you! GBPUSD M30 A 'retrending wave b' is basically a wave b of an irregular flat (or expanding flat) correction, which according to New Elliott Wave Rule TS Hennessy, only occurs at specific time and place. Looking at minor wave counts, it's still in minor wave 4 red correction, expecting a lower low under wave (3), in completing the retrending wave b. {image}
GBPUSD M30
Maintaining course due south towards lower low.
Moved SL at invalidation.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30 28Nov18.png Size: 65 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,888
  • Nov 27, 2018 6:16pm Nov 27, 2018 6:16pm
Quoting EnrichWave
{quote} But brother your charts never passing Elliott wave. Could you please elaborate more about your wave techniques.
Try not to restrict yourself from exploring Elliott Wave, when you refer to what you have learned as Elliott Wave and what you haven't yet learned as not Elliott Wave.
Some lessons learned as described:
https://www.forexfactory.com/showthr...2#post11680662
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,889
  • Dec 5, 2018 7:31am Dec 5, 2018 7:31am
EURUSD M30
Fast price action completed a wave 4 of c.
Selling for the 5th wave (an expanding trading range) down.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30 5Dec18.png Size: 45 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,890
  • Dec 11, 2018 5:23am Dec 11, 2018 5:23am
Quoting skyhok
{quote} GBPUSD M30 Maintaining course due south towards lower low. Moved SL at invalidation. {image}
Bravo!! you are Mastering!
Whats your opinion about whats next?
Im very grateful for you sharing your knowledge! All the best!
  • #8,891
  • Dec 26, 2018 12:37am Dec 26, 2018 12:37am
Quoting xandi
{quote} Bravo!! you are Mastering! Whats your opinion about whats next? Im very grateful for you sharing your knowledge! All the best!


USDCHF H1
A New Year Resolution: Trading the expanding diagonal wave c advance and draw the bottom line with SL @ invalidation.
Going after that R/R > 10.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH1 26Dec18.png Size: 47 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,892
  • Dec 29, 2018 12:54am Dec 29, 2018 12:54am
A happy new year to all.
  • #8,893
  • Dec 30, 2018 6:55am Dec 30, 2018 6:55am
These are the charts I will be trading the coming week

GBPCAD: Triangular ABCDE broke with an embedded wave 3 impulses en route to 1.618

Attached Image (click to enlarge)
Click to Enlarge Name: GCa.png Size: 103 KB


EURCAD: Wave 5, testing yearly high

Attached Image (click to enlarge)
Click to Enlarge Name: ECa.png Size: 66 KB


USDCAD: Double combo wave has broken, there is a high risk that this can reverse but my bias is to the upside, 1.618 for the end of wave 3

Attached Image (click to enlarge)
Click to Enlarge Name: UCa.png Size: 97 KB


EURAUD: Wave E to be completed soon

Attached Image (click to enlarge)
Click to Enlarge Name: EA.png Size: 75 KB
To Pipccess and Beyond
  • #8,894
  • Jan 10, 2019 12:43am Jan 10, 2019 12:43am
EurUsd _H4
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 127 KB
  • #8,895
  • Jan 10, 2019 12:57am Jan 10, 2019 12:57am
In which wave are we now?
Check profile for my blog
  • #8,896
  • Jan 11, 2019 12:54am Jan 11, 2019 12:54am
EurUsd_M15
Corrective wave work-in-progress.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 65 KB
  • #8,897
  • Jan 11, 2019 8:38am Jan 11, 2019 8:38am
Quoting winuxcom
EurUsd_M15 Corrective wave work-in-progress. {image}
EurUsd_M15 Update
Probability; impulsive wave formation. Flat pattern 335.
If you have any insights, please share with me. Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15-a.png Size: 80 KB
  • #8,898
  • Edited 6:50pm Mar 8, 2019 5:05pm | Edited 6:50pm
SPX daily
A typical a-b-c correction wave iv (red) is developing since January 2018 top, with the standard Elliott Wave 3-3-5 configuration, where wave c is a five waves expanding diagonal.
Attached Image (click to enlarge)
Click to Enlarge Name: SPXDaily 9Mar19.png Size: 55 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #8,899
  • Mar 13, 2019 11:11am Mar 13, 2019 11:11am
Quoting skyhok
SPX daily A typical a-b-c correction wave iv (red) is developing since January 2018 top, with the standard Elliott Wave 3-3-5 configuration, where wave c is a five waves expanding diagonal.{image}
Can you do any GBP pair, I am sure traders (most of them are clueless) want clarification on what the GBP will do in the next hours?

Thank you very much. I really appreciate your work.
  • #8,900
  • Mar 15, 2019 2:41pm Mar 15, 2019 2:41pm
Quoting diavolul
{quote} Can you do any GBP pair, I am sure traders (most of them are clueless) want clarification on what the GBP will do in the next hours? Thank you very much. I really appreciate your work.


Despite the conditions of BritExit, GBPUSD is doing on its own terms, the EW way.
An impulse wave c is trending down from April 2018 top, now retracing near the termination of wave 4, an expanding flat correction.
Setup for shorts near the top of previous minor [4].
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily 16Mar19.png Size: 59 KB
Elliott Wave for optimum entry, exit and risk management of trades
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