Elliot Wave Analysis

Gold:

For the collection of practical Elliott wave patterns: Expanding Flat example as of today

Sixer

Hello My Friend

please introduce me a book or article with subject Eliot Wave

thanks

Start here: After this you should do your own counting !!

https://www.youtube.com/playlist?lis...F6D9045C8EBAB9

Sixer

The correct spelling is Elliott not Eliot

Robert Balan: Elliot Wave Principles

http://users.atw.hu/cybermanus/forex...Principles.pdf

Balan has an awesome Money Managment on how to trade a full impulsive wave from beginning to end, adding and selling contracts as the sequence unfolds.
Bill Williams copied the idea in his first book.
Once you , manage to pin down the end of a sequence, and the beginning of a new one, even if you are successful only 20% of the time, the winners are massive and losers potentially compensated by reverse trades.
The art of trading in its purest form.

Continuing on Balan´s system of compounding lots:

-First you need to identify (somehow), the end of a swing on a higher time frame.(depending on your plan).
-Once you do,you move to 1 lower time frame and buy/sell the retracement. (enter on a far better price).
-If you survive the beginning of the campaign, and a nice 5 wave unfolds in your favour, adding all together 10 lots, some get sold on the way, some get added again on the way...the profits are massive.

Granted, easier said than done, but the advantages are worth it. Balan gives you on top, a complete EW pattern guideline.
Each lot gets sold, rebought, or reversed according to solid EW principles.
The higher the time frame the easier it is to pinpoint the entries. Each move needs careful study.

Bill Wiliams, on his first book, copying the system, puts on a trade on the Monthly/Weekly/Dayly time frame.
He risks roughly 5000 US and makes some 110000 in 6 months or so.
This is 20 years ago, just take a chart and back test it, using the technique, add the profits.

https://cdn.preterhuman.net/texts/fi...ng%20Chaos.pdf
Pretty awsome.

Like I mentioned before,the Time Rythm Zones, and Time Bands can be so usefull.
Check CHJPY.
I draw the time square in red in the first , weekly chart,more than a week ago. (using the tools I mentioned).

Same in the day chart.(second pic.)
Note it turned one day after te maximum time span.

When the time was reached, reinforced by the fibo levels (deleted now), I went short on the 4H.

Now if you look at the dayly chart, it has a red square, for the minimum time for it to keep on going down.The square is drawn using the overlapping bars on the indi window below.

Here´s the same pair, on a 12 Hour chart, with the fibo levels, note the bearish divergence on the indi below as it reached the time and fibo levels.

Always Your chart color makes eye strain. So mostly avoiding. I think others also will feel same.

Sorry about that, I use black, but change to white to post here, but it then shows pink on this website.I´ll try some grey in the future...

Another one, this is EURUSD dayly.
I missed this one, the red box was drawn days before, an overlap of the line segments below (Time bands, Time Rythm Zone), notice I added the highest score of the Trading range, time routine of the software.
Basically, you pick a time frame, (better 2 or 3), let the software give you the highest statistics for a time period, for a trend change.
Refine with a lower TF.
Once you are trigerred into the trade (pick your favourite trigger), you let the software calculate the next time, with the highest statisticall value, for an end of the new trend....and ride the wave till then.
Of course, you add all you have in terms of: pattern(EW), price (Fibos), momentum.
This time filter works, based on historical stats. no hocus pocus, it is invaluable.
And of course, nothing is perfect. My last 9 trades were winners. Obviously, a looser might be right around the corner. Just part of the business.

Here´s another one, AUDNZD Dayly.
I traded the 12H, and 240 charts, after the time for a daily low was reached, already closed with a profit.

Gold:

The bigger Picture since the Low of 2016 and the actual Elliott count of wave "Y" in wave "(B)".

Sixer

What I´m missing in this thread, is any ideas on:
-MM
-How to manage trades using EW
-Triggers
-Momentum

etc.etc.

Lot´s of pretty charts and EW counts, some will prove right, and some will prove wrong, but only if what I mentioned and more is carefully studied, there will be a usefull edge.

Talking about MM position size and pyramiding.
-I took the long trade up back then (red trend line up), with 2 entries and made some $,1,5 R. (1,5 times risk profit) .
EURNZD 12 Hour chart

Check the difference using chaos theory, Bill Williams entries (second book).
Using the indi I share, which signals the entries, according to B. Wiiliams book ( 5 or 6 different types of entries, you need to read the book or find the entries and Indies online to understand it).

-Results for the same move using the Chaos system:10 entries, from which 9 were winners, and one a small looser.
TOTAL: 7,66 R for the same segment.

If you like the idea, just calculate the amount of entries and profit for the next move down,(red trend line down).

Alltogether, 2 Big fat campaigns.
Obviously, the issue is, how did one know there would be a trend change on both campaigns?
I use my EW, and most important, Timing tools I mentioned before, they work like a beauty.
Obviously, nothing is perfect, but as the old truth in trading says "kep your profits big and loosers small" .

"...cybernetics, which came
from a Greek word meaning steersman—the man who holds a boat's rudder, and who can,
with a small amount of force, move a much larger force (the boat)." (B. Williams).
Apply this cocept (properly), in Forex Trading, and you couldn´t avoid but getting rich.

wave iv gold b is very impulsive we have a wxy with x still in play and yes the count is correct but reconsider going through it

Miner´s 100% up just trading EURUSD on the Forex Championship ,real $.

Hello, guys!
A few last days constantly think about situation in Ripple (XRPUSD). Here is my chart.
I stay on the way with triangle in wave [b] of 2. And YES, i think that's a zig-zag correction in big wave 2.
About goals of this correction: because of long [5] of, correction of wave 2 can touch the low of [4] in 1 - 0.1250.
But minimum conditions for wave 2 with zig-zag in it, will be overlow the 0.2515, i believe.
And if we draw the correction channel, it also can move down to central line (may be with a little 'thrust' to 0.1250).
Generally, all of this things depend on what kind of wave was in this first part ([a]). Maybe I'm wrong, and this was double three or smth like that...
What do you think, guys?? Very interesting to listen another view on this chart

Netflix shares after 2nd qua. earnings.

Sixer

Obviously, there´s not much interest in this thread on maximizing profits and MM.
People here just posting colorful charts with potential EW counts, which is fine, but by far not enough to make $ with EW, or any other system for that matter.
I will still share my ideas, I guess it is a good exercise for myself.
Like I mentioned im a fan of B. Williams, he wrote 3 books, and what I do is pick up the best from each, (in my opinion), after backtesting them.
Check this EURAUD 12 Hour chart, (I use a period converter), I like 12 hours, not too slow, and almost as reliable as a Daily...but giving me more opportunities.
Actually I took this trade, made 1,8 R which is fine...but my question is: how can I make the most of every one of my winners. (basic trading principle).
To be continued..