Elliot Wave Practice--post it here! | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Elliot Wave Trading 1,827 replies

GBPCHF Buying Wave (V) Elliot Wave 0 replies

Elliot Wave for Short/Medium Term Traders? 14 replies

Elliot Wave Counts in FOREX 1 reply

Is this a correct Elliot wave evaluation? 10 replies

Attachments: Elliot Wave Practice--post it here!
Exit Attachments

Elliot Wave Practice--post it here!

  • #1
  • First Post: Nov 25, 2006 7:48pm Nov 25, 2006 7:48pm
Im getting interested in Elliot Waves. A common criticism among Elliot Waves is that they are always easy to verify retractively and are very subjective--ten different Ellioticians will give you 10 different wave counts.

Id like to start a thread where people can give their wave counts on any pair, any time frame.

###################################################
Id like to ask that you upload your pics as a zip file so that it will not show up as a picture embedded in the post.
###################################################

The reason for this is that I'd like to get different opinions on wave counts, however if you have already seen a correct wave count you might get stuck on that opinion and not be able to come up with your own original count

if everyone uploads the count as a zip file, you can compare your original count with other's AFTERWARDS. i think this owuld be more helpful.

ok...so here is what im really curious about right now. GBPUSD....where's it at!?
  • #2
  • Nov 25, 2006 10:54pm Nov 25, 2006 10:54pm
Here is the way I see GBPUSD. It is a good idea to request that people with all kinds of opinion post so that we can compare the counts of others and learn more. This is a subject that takes time to master.
Attached File(s)
File Type: zip gbpusd11-24-06.zip   101 KB | 755 downloads
  • #3
  • Nov 26, 2006 12:02am Nov 26, 2006 12:02am
EURUSD chart attached
Attached File(s)
File Type: zip eurusd11-24.zip   195 KB | 694 downloads
  • #4
  • Nov 26, 2006 12:38am Nov 26, 2006 12:38am
great, thanks wwwin..keep it coming!

i encourage others to also post zip files of wave counts. any pair and period.
  • #5
  • Nov 26, 2006 12:43am Nov 26, 2006 12:43am
question about the A wave. How come it could not be as I have it labeled here in yellow?



Quoting wwwin
Here is the way I see GBPUSD. It is a good idea to request that people with all kinds of opinion post so that we can compare the counts of others and learn more. This is a subject that takes time to master.
Attached File(s)
File Type: zip gbpusd11-24-06-question.zip   102 KB | 598 downloads
  • #6
  • Nov 26, 2006 12:51am Nov 26, 2006 12:51am
Quoting clam61
question about the A wave. How come it could not be as I have it labeled here in yellow?
I think it is the same thing, you have zig zags of a lesser degree making up the larger corrective waves. You are just showing greater detail by going one degree smaller.
  • #7
  • Nov 26, 2006 1:04am Nov 26, 2006 1:04am
thats true, but what if i thought it was on the same degree -- wouldnt this mess up the wave count?

and actually, shouldnt the A wave be made up of 5 subwaves and not 3?

Quoting wwwin
I think it is the same thing, you have zig zags of a lesser degree making up the larger corrective waves. You are just showing greater detail by going one degree smaller.
  • #8
  • Nov 26, 2006 1:16am Nov 26, 2006 1:16am
this is a seperate question/goal.

ok, to properly analyze the EW of everyones favorite pair, GBPUSD, lets start from the beginning and from a high point...from then we can zoom in on where we are.

im posting a pic here ONLY because i didnt do any analysis. here is a monthly chart of GBPUSD, id like to see where people think we are
Attached Image
  • #9
  • Nov 26, 2006 9:27am Nov 26, 2006 9:27am
Quoting clam61
thats true, but what if i thought it was on the same degree -- wouldnt this mess up the wave count?

and actually, shouldnt the A wave be made up of 5 subwaves and not 3?
From what I know, corrective waves can take many many different forms, and that is why they are so difficult to trade and see before they are finished. So I dont think that they have to have 5 subwaves. Zigzags are perfectly fine. As far as being of the same degree, it seems to be too small a complete correction relative to the prior impulse sequence. Even if it were, what follows appear to be more corrections. You can have triple zigzags corrections. Can you come up with impulse waves that complete a cycle following the complete correction that you see that are of any significant size? I think that is the question. I wish some very experienced Ellocticians would come in the discussion.
  • #10
  • Nov 26, 2006 3:44pm Nov 26, 2006 3:44pm
is there a size criteria for a correction wave?

Quoting wwwin
From what I know, corrective waves can take many many different forms, and that is why they are so difficult to trade and see before they are finished. So I dont think that they have to have 5 subwaves. Zigzags are perfectly fine. As far as being of the same degree, it seems to be too small a complete correction relative to the prior impulse sequence. Even if it were, what follows appear to be more corrections. You can have triple zigzags corrections. Can you come up with impulse waves that complete a cycle following the complete correction that you see that are of any significant size? I think that is the question. I wish some very experienced Ellocticians would come in the discussion.
  • #11
  • Edited 4:52pm Nov 26, 2006 4:32pm | Edited 4:52pm
Quoting clam61
is there a size criteria for a correction wave?
I don't think it needs to reach a certain size to be a final correction. There is no rule for that. Other than EW Principle mentions the parttern has generally "the right look". The look test, but it is not specific.

The key here is not really the size, but what happens after, look at the price action after, those after have to be corrections also b/c they break the impulse rules
  • #12
  • Nov 27, 2006 4:27pm Nov 27, 2006 4:27pm
hmm...im reading all about EW and i have not found one place that goes into detail about application.

i mean...lets say we start counting on the daily. doesnt it matter where you start? lets say your count starts farther back than mine does. so your wave 3 is my wave 1...then wont my count get messed up?

and if you want to verify that you have a correct wave 1, then you have to verify that the prior wave is a C wave that just ended one cycle, right?

but then to verify that you have to verify the whole 1,2,3,4,5,a,b,c pattern before that. but to verify that pattern....you get the point.you just keep going back and back in time.
  • #13
  • Nov 27, 2006 7:02pm Nov 27, 2006 7:02pm
Quoting clam61
this is a seperate question/goal.

ok, to properly analyze the EW of everyones favorite pair, GBPUSD, lets start from the beginning and from a high point...from then we can zoom in on where we are.

im posting a pic here ONLY because i didnt do any analysis. here is a monthly chart of GBPUSD, id like to see where people think we are
clam61,

I don't follow the Gbp/Usd currently, but looking at your posted chart, I would guess the Pound is in the process of finishing up a Horizontal Triangle.

A Horizontal Triangle has five legs in it labeled A, B, C, D, and E, with each leg having a 3 count. I would need to open up some more detailed charts to see if the current legs meet that guideline and where I would place the first leg A.

Let's assume that the A leg is at the top left of your current chart. Then current price would be in the soon to be completed E leg with a major reversal downward impending.

Or if you place the A leg at the low on the left hand side of your chart, the current price would be in the soon to be completed D leg, with a major move downward to form the final E leg of the triangle.

Regardless which scenario you go with, on a Monthly chart, these moves will take four or more years to complete. A long term position for sure.

Again, I currently don't follow this pair so it would take some time to verify that this is a triangle formation and which leg we would currently be in.

Thanks
Jeffrey
  • #14
  • Dec 9, 2006 1:40pm Dec 9, 2006 1:40pm
Good Possible
Attached Image
  • #15
  • Dec 9, 2006 1:48pm Dec 9, 2006 1:48pm
Quoting clam61
hmm...im reading all about EW and i have not found one place that goes into detail about application.
Good books for application Elliot Waves:

1.Dynamic Trading : Robert Miner

http://www.amazon.com/Dynamic-Tradin...e=UTF8&s=books

2.Trading Chaos : Bill Willams

http://www.amazon.com/Trading-Chaos-...e=UTF8&s=books
  • #16
  • Dec 9, 2006 2:25pm Dec 9, 2006 2:25pm
ironically im getting out of elliot waves. ive been convinced that market forecasting can be detrimental to trading and your wallet.
  • #17
  • Jan 12, 2007 7:42pm Jan 12, 2007 7:42pm
Wave 4 ended today, and Wave 5 has begun. Buy.
http://members.aol.com/f8222/eurusd1-12-07.gif
Attached Image
  • #18
  • Jan 12, 2007 9:32pm Jan 12, 2007 9:32pm
Use wolf waves instead, moire accurate and easy to find.
  • #19
  • Jan 12, 2007 9:36pm Jan 12, 2007 9:36pm
Quoting guppy
Use wolf waves instead, moire accurate and easy to find.
Can't mention w**** w**** in FF as Bill Wolfe protested that his copyright was being violated.
  • #20
  • Jan 12, 2007 10:00pm Jan 12, 2007 10:00pm
If he has time to chase down people about his copyrights doesn't say much for how he does using his WW's.
0 traders viewing now