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The Elusive Elliot Waves

  • #1
  • First Post: Feb 24, 2021 7:22am Feb 24, 2021 7:22am
Elliot waves ............. Experts welcome to post.............. i am new to learning these waves which are very subjective ....half hearted attempts to learn previously....but willing to give it a try............again...............
  • #2
  • Feb 24, 2021 7:22am Feb 24, 2021 7:22am
Attached File(s)
File Type: pdf The Wave Principle Applied.pdf   1.7 MB | 602 downloads


........recently stumbled across this on FF..........
  • #3
  • Feb 24, 2021 7:25am Feb 24, 2021 7:25am
Aim ......... to learn and master if possible ......this page setups..............
...following is page 14 from pdf attached above...... seems the most useful to look at page............
Attached Image (click to enlarge)
Click to Enlarge Name: 15 wedge 1.PNG Size: 70 KB
  • #4
  • Feb 24, 2021 7:32am Feb 24, 2021 7:32am
..........i wonder if there are any indicators or Expert advisors anyone found to be useful in this regard............ to prevent a complete disaster at the count ...... please share if these exist ............ you will win a lottery ticket...... for the good deed............
  • #5
  • Feb 24, 2021 8:38am Feb 24, 2021 8:38am
Quoting klm1011
..........i wonder if there are any indicators or Expert advisors anyone found to be useful in this regard............ to prevent a complete disaster at the count ...... please share if these exist ............ you will win a lottery ticket...... for the good deed............
semafor
?
  • #6
  • Feb 24, 2021 8:55am Feb 24, 2021 8:55am
Quoting HRTrading
{quote} semafor
...HRTrading ...thanks for input........do you use this in any particular way?
  • #7
  • Edited Feb 25, 2021 4:18am Feb 24, 2021 9:35pm | Edited Feb 25, 2021 4:18am
Quoting klm1011
..........i wonder if there are any indicators or Expert advisors anyone found to be useful in this regard............ to prevent a complete disaster at the count ...... please share if these exist ............ you will win a lottery ticket...... for the good deed............
At first EW theory can be complicated, but once you get it down it's quite simple. The following website explains it very well, and you use Fibonacci levels to count the waves.

https://tradingsim.com/blog/elliott-wave-theory/
  • #8
  • Feb 24, 2021 9:37pm Feb 24, 2021 9:37pm
Quoting klm1011
..........i wonder if there are any indicators or Expert advisors anyone found to be useful in this regard............ to prevent a complete disaster at the count ...... please share if these exist ............ you will win a lottery ticket...... for the good deed............
Review the link I posted above. It really is simple once you get the hang of it. I'd say you don't really need to use expert indicators for this. Give it a few days of study and you will have it down. I use them everyday to analyze the market. Always here to help
  • #9
  • Feb 25, 2021 3:32am Feb 25, 2021 3:32am
Quoting TaoTrader
{quote} Review the link I posted above. It really is simple once you get the hang of it. I'd say you don't really need to use expert indicators for this. Give it a few days of study and you will have it down. I use them everyday to analyze the market. Always here to help
....thanks for input TaoTrader..........i wonder if you could give some live example if you are comfortable with that ......say on eurusd so we can learn from yr experience ........meanwhile we will study the link material ...........
  • #10
  • Edited 4:21am Feb 25, 2021 4:05am | Edited 4:21am
...............first tentative attempt at wave counting ....but we must try try again ............. ? 3 wave formation in progress....................
.............. hawkeye critic welcome..................
.............. i put on semafor ( 3 numbers only ) as one trader ( HRTrading ) responded it is helpful.............i guess will see if it does or not ..................
.............. i could be wrong and just seeing shapes in the sky.............
Attached Image (click to enlarge)
Click to Enlarge Name: 15 wedge 1.PNG Size: 54 KB
  • #11
  • Feb 25, 2021 4:12am Feb 25, 2021 4:12am
Quoting klm1011
{quote} ....thanks for input TaoTrader..........i wonder if you could give some live example if you are comfortable with that ......say on eurusd so we can learn from yr experience ........meanwhile we will study the link material ...........
You mean create a video? I can probably do that.
  • #12
  • Feb 25, 2021 4:16am Feb 25, 2021 4:16am
Quoting klm1011
...............first tentative attempt at wave counting ....but we must try try again ............. ? 3 wave formation in progress.................... .............. hawkeye critic welcome.................. .............. i put on semafor ( 3 numbers only ) as one trader responded it is helpful.............i guess will see if it does or not .................. .............. i could be wrong and just seeing shapes in the sky............. {image}
Yes you got it right! Good job. You will want to start with the larger time frames first though, because the lower time frames always show small patterns inside larger patterns. If you start with the lower time frames first, you won't be able to predict the Elliot Wave properly. Anyway great job!
  • #13
  • Feb 25, 2021 4:20am Feb 25, 2021 4:20am
Quoting TaoTrader
{quote} You mean create a video? I can probably do that.
..... i was thinking of a snapshot based demonstration ....but ... if video based then ofcourse that would be superior ........ yr call......... will take any great learning material....... based on real experience..........
  • #14
  • Feb 25, 2021 4:24am Feb 25, 2021 4:24am
Quoting TaoTrader
{quote} Yes you got it right! Good job. You will want to start with the larger time frames first though, because the lower time frames always show small patterns inside larger patterns. If you start with the lower time frames first, you won't be able to predict the Elliot Wave properly. Anyway great job!
........thanks TaoTrader .............. when you say higher TF is it H4 to Wkly set .............. lower TF will be a nightmare i guess............... i think pips are in higher TF movement anyway..........
  • #15
  • Feb 25, 2021 4:31am Feb 25, 2021 4:31am
.......next question ............ if the snapshot above is the current state of affairs then what is behind it ..................anyone dares to attempt at counting this snapshot......... i guess my beginner approach could be to start looking for first 61.8 fib retracement somewhere in there !!! and then look for the other structural components around that !!! ..................................? i already feel like a headache coming on ..............followed by bouts of yawning .........
Attached Image (click to enlarge)
Click to Enlarge Name: 15 wedge 1.PNG Size: 65 KB
  • #16
  • Feb 25, 2021 4:35am Feb 25, 2021 4:35am
............or should we step up to even higher TF.................??
  • #17
  • Feb 25, 2021 4:37am Feb 25, 2021 4:37am
Quoting klm1011
{quote} ........thanks TaoTrader .............. when you say higher TF is it H4 to Wkly set .............. lower TF will be a nightmare i guess............... i think pips are in higher TF movement anyway..........
Ya I do screenshots all the time I'm making one for you right now
  • #18
  • Feb 25, 2021 4:39am Feb 25, 2021 4:39am
.....another useful page from the pdf seems to be ............this one .................
Attached Image (click to enlarge)
Click to Enlarge Name: 15 wedge 1.PNG Size: 102 KB
  • #19
  • Feb 25, 2021 4:49am Feb 25, 2021 4:49am
Quoting klm1011
.......next question ............ if the snapshot above is the current state of affairs then what is behind it ..................anyone dares to attempt at counting this snapshot......... i guess my beginner approach could be to start looking for first 61.8 fib retracement somewhere in there !!! and then look for the other structural components around that !!! ..................................? i already feel like a headache coming on ..............followed by bouts of yawning ......... {image}
I'm a little confused about all the 3's on your chart. Not sure what they mean LOL. But yes here is an example for you starting on the Daily chart, and using your 4 hour chart. Your larger chart above(the one I responded to first) started on Feb 4th, and you counted the 3 waves correctly. But you want to start on the weekly and the daily first. The weekly chart is harder to see right now in terms of the waves, but the daily chart is showing the same info. This image I have here shows a 3 Wave pattern which started on Nov 3rd of last year. Your 4 hour chart starts at the bottom of WAVE 2 on my chart. I hope I'm not confusing you. If I am I can explain further. The way I have it set up you are looking at a (Wave 3) of a WAVE 3 unfolding. Wave 3 is the most impulsive wave and this is def a place where you want to make your money
Attached Image (click to enlarge)
Click to Enlarge Name: 12e3716fa0c3cce8fc9614306743d14d.png Size: 78 KB
  • #20
  • Feb 25, 2021 4:51am Feb 25, 2021 4:51am
Quoting klm1011
.....another useful page from the pdf seems to be ............this one ................. {image}
Yep that's right. Eventually you will have this stuff memorized and you can count the waves by sight. But its still better to verify the wave counts by drawing them into your chart and measuring the Fib levels.
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