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Elliot Wave Analysis

  • #1,161
  • Mar 6, 2021 1:18am Mar 6, 2021 1:18am
Quoting stringfx
similar scenario in Eur/usd Third wave expansion targets are defined in the charts .. 1.1861 is FE 100 . It might probably go more down to 161.8 which is at 1.1705 Chart : {image}

I have this on 15 min. Similar to yours.

if it is an ABC..then probably we end with v(III) for this down move from 1.23s and we have a decent retracement up.
If it is a 12345 impulse wave, then end of 3 with 4 sideways and 5 down to come to complete down move from 1.23s.
right now I favour the impulse move down..
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  • #1,162
  • Mar 6, 2021 5:15am Mar 6, 2021 5:15am
Quoting Amin1422
{quote} Would this ABC corrective wave apply too? {image}
yes that's a possibility.. thanks
STING
  • #1,163
  • Mar 6, 2021 6:02am Mar 6, 2021 6:02am
On Eur/usd H4 chart ... I am sure the week would start off with a gap down but i am still a bit worried about this channel as it bounced exactly on the lower channel. unless that breaks and H4 candle closes below, no more sells .
That is an equidistant channel
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STING
  • #1,164
  • Mar 8, 2021 7:48am Mar 8, 2021 7:48am
Thinking this could be the start of Wave 4 on dxy- what do you reckon? The circled line is the 0.618 fib retrace of the last major swing high/low (nov-jan). Or maybe the end of wave 5 according to your schematic?
Attached Image (click to enlarge)
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  • #1,165
  • Mar 8, 2021 8:24am Mar 8, 2021 8:24am
Quoting mysterio
Thinking this could be the start of Wave 4 on dxy- what do you reckon? The circled line is the 0.618 fib retrace of the last major swing high/low (nov-jan). Or maybe the end of wave 5 according to your schematic? {image}
This, according to me is the start of a very huge correction (2nd wave). Most probably, it might end at 50% (96.47) of the last move or it may move further up to 61.8% (98.19). Could also go more higher but it is usually 50-61.8 %. If this correction is a simple A-B-C then we have completed 1st wave of A leg and also the 2nd wave... now we are on the 3rd wave which could end at 93.59 which is 161.8 and then down for 4th and up for 5th. So do not even think of buying major pairs . always sell the rallies on majors. After the A leg completion, we will go down for the B leg which is the biggest confuse and many people will lose a lot of money on this wave as this is a correction in a correction. Once that is completed we will go up in a wave C for 5 waves and complete this correction. Here is a chart ...
Attached Image (click to enlarge)
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STING
  • #1,166
  • Mar 8, 2021 9:51am Mar 8, 2021 9:51am
on a shorter time frame (4Hr)
This might be the end of the 3rd wave as price is approaching FE 100 expansion. It can go to 161.8 as well but Fe 100 is also a strong resistance. We could go down for a 4th wave and then up for the 5th.
Attached Image (click to enlarge)
Click to Enlarge Name: dxyX.png Size: 40 KB
STING
  • #1,167
  • Mar 8, 2021 10:06am Mar 8, 2021 10:06am
Quoting stringfx
on a shorter time frame (4Hr) This might be the end of the 3rd wave as price is approaching FE 100 expansion. It can go to 161.8 as well but Fe 100 is also a strong resistance. We could go down for a 4th wave and then up for the 5th. {image}
Hi
How can you subdivide that first wave into 5 subwaves?
Reading book on EW theory so still at basic level
  • #1,168
  • Mar 8, 2021 10:16am Mar 8, 2021 10:16am
Quoting Merka
{quote} Hi How can you subdivide that first wave into 5 subwaves? Reading book on EW theory so still at basic level
i have posted this before ...
Attached Image (click to enlarge)
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STING
  • #1,169
  • Mar 8, 2021 10:23am Mar 8, 2021 10:23am
Quoting stringfx
{quote} i have posted this before ... {image}
Understood now.
To subdivide a steep wave it's necessary to go to lower TF if it's not clear enough on current TF.
  • #1,170
  • Mar 8, 2021 10:34am Mar 8, 2021 10:34am
Quoting Merka
{quote} Understood now. To subdivide a steep wave it's necessary to go to lower TF if it's not clear enough on current TF.
STING
  • #1,171
  • Mar 9, 2021 3:46am Mar 9, 2021 3:46am
There is good possibility of a bounce when dxy reaches 38.2 retracement. ( in this chart 61.8 coz i drew it upside down .) or the 4th wave. We should be able to get the 5th wave up after that. will update once 4th wave completion confirmation is received.
Attached Image (click to enlarge)
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STING
  • #1,172
  • Mar 9, 2021 5:46am Mar 9, 2021 5:46am
My first attempt.
What do you think guys?
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  • #1,173
  • Mar 9, 2021 5:55am Mar 9, 2021 5:55am
Quoting Merka
My first attempt. What do you think guys? {image}
Brilliant ..!!!!!! Now go to a lower timeframe like 4 hr and see if wave C is completed or not .. today's homework !!!
Try to count 5 waves in A and 3 waves in B and 5 waves in C
STING
  • #1,174
  • Mar 9, 2021 6:00am Mar 9, 2021 6:00am
Quoting stringfx
There is good possibility of a bounce when dxy reaches 38.2 retracement. ( in this chart 61.8 coz i drew it upside down .) or the 4th wave. We should be able to get the 5th wave up after that. will update once 4th wave completion confirmation is received. {image}
What your broker. I need it to counting if i counting in tradingview its so hard
  • #1,175
  • Mar 9, 2021 6:08am Mar 9, 2021 6:08am
Quoting corongumet
{quote} What your broker. I need it to counting if i counting in tradingview its so hard
I trade with XM and IC market.
STING
  • #1,176
  • Mar 9, 2021 6:32am Mar 9, 2021 6:32am
Quoting stringfx
{quote} Brilliant ..!!!!!! Now go to a lower timeframe like 4 hr and see if wave C is completed or not .. today's homework !!! Try to count 5 waves in A and 3 waves in B and 5 waves in C
Here it is.
Not convinced on waveA subdivisions into 5 waves.
Wave C is not over because we need 5 subdivisions
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  • #1,177
  • Mar 9, 2021 8:19am Mar 9, 2021 8:19am
Quoting Merka
{quote} Here it is. Not convinced on waveA subdivisions into 5 waves. Wave C is not over because we need 5 subdivisions {image}
Great ...
Nobody will say that you are a beginner.
STING
  • #1,178
  • Mar 10, 2021 2:12am Mar 10, 2021 2:12am
Tracking this..15 min
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  • #1,179
  • Mar 10, 2021 2:23am Mar 10, 2021 2:23am
Quoting blurbear
Tracking this..15 min {image}
Can you please write on your charts what pairs is it?
Thanks
  • #1,180
  • Mar 10, 2021 2:24am Mar 10, 2021 2:24am
Quoting Merka
{quote} Can you please write on your charts what pairs is it? Thanks
oops my apologies..it’s eur.
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