Elliot Wave Analysis

dow chart.

i am hoping there will not be much high on the dow. it has done a 78.6 fib move to the upside and am expecting a H & S pattern to take this baby down. here is my chart

gold in my opinion has finished the third wave and is in a decline to correct for the 4th wave. this decline could take it down to 1276 which was the last 4th wave support.

us oil 4 hr.

well we are correcting the previous very big dip on oil. so it's hard to predict when the correction will end. i think the wave a is done as we can make out 5 waves to the top. now the main count and the alternate counts are both pointing down for at least a b wave and then a push up to wave C is also in the cards. refer earlier charts posted here. i am expecting a decline to 45 levels in this move down. be careful though..it's a correction so don't bet the farm.

Thank you. I will follow the rules of the above thread. Hopefully I'm also fortunate as you.

Good bit of confirmation that 5 waves up is complete. seems to be doing a B wave down to almost 45. i would take profits at 47.5 which is 61.8 of the a wave. here is a chart

so far all charts posted previously are playing out very nicely. hopefully until end of the week. good luck all.

Anyone with wave count for eu50 or dax? Thanks in advance!

Subject Cycles, (Elliot Waves being cycles...)
Found this legendary cycles trader. ..PDF.
I think one of the main reasons many indies don´t work, is people just use any value.
I realized values must be adjusted depending on the chart and time frame.
That´s probably the reason why blackboxes software like Aget fail so often, one of their main filters is the EW oscillator, which they insist on using on every single chart ... with the same parameters.
If you just start messing around with the parameters of any indie, you will find dramatic differences...that can either help you, or mislead you.
Same goes for Bill Williams: same Alligator, AO and AC for every single chart.
Just some carefull study marking how the indie reacts to bottom and tops, how early and how late, and adjusting accordingly makes a huge difference...the same for MA, Parabolics, juriks..Bollingers...you name it...
Guess that´s the reason why some very profitable traders, trade only on time frame, one underlying, same indies with tested parametres.
Have a great weekend.

eur/usd..

good possibility that 4th wave has ended but to keep an open mind, there is a possibility that 4th wave is incomplete and the wave up after 3rd wave is only the a leg of 4th and since b leg is ongoing which means we might get a c wave up... in any case there will be a correction up next week. if wave 4 has ended we will go down for wave 5 for a bit then correct up for wave 2. here is a chart

EURUSD - the bigger picture

Is the correction of the last upmove still underway ?

Sixer

Edit:
For comparison the Daily count of A.Tiedje

EWMI considers the correction of USD/CAD in wave "2" as finished.

Is this valid for other USD pairs too ?

Sixer

No actually seeing the chart but presently with limit down 1.3150 for up 1.3371+ok but in higher tf pa looks waiting breaks 1.3058/actually 3028 to test 1.1. 2782/2522 /2060for 1910--to rethink about bull. If so it should be in wave 2 running up of great 3 down. Anyway great opportunity long term in this pair i see. Will check later when access to my chart.

DOW 1 hr chart.

i am hoping that dow has finished the initial 1st wave and is going up for the 2 nd wave. hopefully it will finish by 61.8. it might turn down at 50% as well as shown in the chart. then should bang down for the 3 rd wave.

don555 this chart is for you. have put a vertical line on 31st oct. this is a daily chart . hope you will get it

US OIL

still no change. a wave done ... B wave going on ... c wave to go up after b wave completion...

gold daily.

minor wave 4 is in progress. minor 3rd wave in orange ended with 200% fib. expecting wave 4 to complete at 1277 which is the 4th wave of lesser degree. big bull wave expected after this correction.

The pair GBP / USD in the correction, the probability of decline is maintained. Estimated pivot point is at the level of 1.3215.
The main scenario: "short positions" are relevant to the correction below 1.3215 with the aim of 1.2806 - 1.2707.
Alternative scenario: a breakdown and price fixing above 1.3215 will allow the pair to continue to grow to the levels of 1.3390 - 1.3628.
Analysis: within the framework of the daily timeframe, the formation of a downward correction of the senior level as the second wave (2), which took the form of a zigzag, is supposedly completed. The 4-hour timeframe of the junior level i of 1 of (3) is presumably formed on the 4-hour timeframe, and a downward correction is being developed as the ii of 1 wave. after the completion of wave b of ii, the pair will continue to decline to 1.2806 - 1.2707. Critical level for this scenario is 1.3215.

The pair is likely to grow in USD / CAD. Estimated pivot point is at the level of 1.3066.
The main scenario: “long positions” are relevant to the correction above the level of 1.3066 with the target of 1.3660.
Alternative scenario: a breakdown and price fixing below 1.3066 will allow the pair to continue to decline to 1.2910 - 1.2777.
Analysis: within the framework of the daily timeframe, it is assumed that the upward trend continues to form as the third wave of the senior level 3 of (5). On the 4 - hour timeframe, the first wave i of 3 is formed and the downward correction ii of 3 in the form of a zigzag has completed. Within the hourly timeframe, apparently, there is a development of an upward impulse as a wave (i) of i of 3 junior level and, if the assumption is correct, the pair will continue to rise to 1.3660 and above. Critical level for this scenario is 1.3066.

The pair is likely to grow in USD / CHF. Estimated pivot point is at the level of 0.9907.
The main scenario: “long positions” are relevant to the correction above the level of 0.9907 with the aim of 1.0073 - 1.0126.
Alternative scenario: a breakdown and price fixing below 0.9907 will allow the pair to continue to decline to 0.9834 - 0.9714.
Analysis: Presumably, the first wave of the senior level (1) of 3 was formed within the daily timeframe and the development of the downward correction (2) of 3 was completed. On the 4-hour timeframe, the first one-two wave of i of 1 of (3) continues to develop as an impulse. Within the hourly timeframe, apparently, the fifth wave of the junior level (v) of i is being formed. If the assumption is correct, the pair will continue to grow in the short term to the levels of 1.0073 - 1.0126. Critical level for this scenario is 0.9907.

The pair is likely to grow in USD / JPY. Estimated pivot point is at the level of 108.47.
The main scenario: “long positions” are relevant to the correction above the level of 108.47 with the aim of 110.80 - 111.42.
Alternative scenario: a breakdown and price fixing below 108.47 will allow the pair to continue to decline to 106.20 - 104.50.
Analysis: within the framework of the daily timeframe, the development of the wave of the senior level (C) of B is presumably continued, as part of which the wave 2 of (C) is formed. On the 4 - hour timeframe, the local correction presumably ended as a wave 2 of (C) and the first entry wave of the junior level i of 3 of (C) develops. Within the hourly timeframe, it appears that correction (iv) of i has completed and wave (v) of i is being formed. If the assumption is true, the pair will continue to rise to marks 110.80 - 111.42. Critical level for this scenario is 108.47.