EURUSD

Quoting DrDave

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{quote} Again, I did not address the "rules" and "guidelines" of the EW system. As far as I am concerned, they are not even relevant to the discussion of your system. I merely questioned why you chose to adopt a different way of numbering the swings. I made no assumptions about the behavior of the waves relative to one another except for the fact that you clearly showed 3 extremes in one direction followed by 2 extremes in the opposite direction. And I questioned skipping what appears to be a valid extreme point in one of your examples.

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Quoting Robinhood1

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Closed 1 of my 3 BTC positions as wave 1 has completed. Wave 2 could stretch to Mars though, but just in case

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Quoting Robinhood1

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The well-established elliott method seems to assume 3 waves and 2 more retracements depending direction. I can´t see retracemants but swings. ie: the 2 wave which is normally established as a,b,c can break below wave 1 of the "3" in my eyes I beleive Elliott knew what he was doing but his system did not reach the public truely

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Quoting Robinhood1

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{quote} Tell me the coca-cola formula and i might tell you why i skipped your marked 3

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Quoting DrDave

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{quote} The well-established elliott method seems to assume 3 waves and 2 more retracements depending direction. But we also know that there all kinds of extensions, especially for corrective waves, that make real-time analysis subject to renumbering as time progresses. Your approach of looking for only for 3 thrust waves followed by 2 corrective waves has the potential for simplifying the matter. With that said, the question of what appears to be 4 thrust waves on your example in which you labeled only 3 of them raises questions about this potential...

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Quoting Robinhood1

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The main question that araises for anyone licenciado but me is : Will it always work out?

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Quoting DrDave

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{quote} cocaine sugar distilled water carbonated water caffeine caramel color

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Quoting DrDave

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{quote} As with most systems where you have to wait for things to unfold, "working out" only comes after the fact because the last point that gets labeled is always tentative: the label can change, or even be removed, depending on what unfolds. This may explain why the chart that I marked with 4 down waves cannot be marked that way in your system. I will assume for now that the siwng that I marked as 3 had to be removed because there was no confirmed 1 in the opposite direction. (And now that raises another matter: if that 3 that I placed is moved...

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Quoting Robinhood1

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BTW, I work this out only on the 5m TF

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Quoting DrDave

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{quote} TF should be irrelevant. Due to the fractal nature of the price vs time plot over various TFs, if you have a system developed on one TF, it is valid for all TFs. In fact, if were you given a lot of screen captures of a specified TF and not be told what the TF or instrument is, you should be able to apply the system without worries.

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Quoting Robinhood1

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Meanwhile, i added long a smaller lot than the one i had just closed at the top {image}

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