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Elliot Wave Analysis

  • #1,521
  • Edited 10:06am Apr 11, 2022 9:54am | Edited 10:06am
Indeed as I my self been facing this issue for a long time
Anyhow I got my pie at the end of the day on 5th wave of the A correction leg

+50 pips
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I Have Learned to Take Some Losses to Make Profits
  • #1,522
  • Apr 13, 2022 12:30am Apr 13, 2022 12:30am
It seems like natural gas is going to be interesting in months ahead. I would love to see others analysis. I am pretty biased, so I find it difficult do analysis on it.
ma ma make me happy
  • #1,523
  • Apr 13, 2022 5:49pm Apr 13, 2022 5:49pm
If this x wave is true, gas could revisit 5.500 area. Worth waiting for H4 confirmaiton.

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ma ma make me happy
  • #1,524
  • Apr 14, 2022 11:35am Apr 14, 2022 11:35am
Quoting hanzohas
If this x wave is true, gas could revisit 5.500 area. Worth waiting for H4 confirmaiton. {image}
I dont follow other market - how is it going with this wave count?

and what book do you recommend - am reading Glen Neely now and its a bit complicated to grasp but doable I guess
I Have Learned to Take Some Losses to Make Profits
  • #1,525
  • Apr 14, 2022 2:46pm Apr 14, 2022 2:46pm
Quoting TheScorpS
{quote} I dont follow other market - how is it going with this wave count? and what book do you recommend - am reading Glen Neely now and its a bit complicated to grasp but doable I guess
No confirmation yet, will wait and see. This looks like a typical x wave.
I started with Mastering Elliott Wave which I regret due its complexity. Five waves to financial freedom by Ramki is by far the best choice for beginners imo.
ma ma make me happy
  • #1,526
  • Apr 15, 2022 10:58am Apr 15, 2022 10:58am
Quoting hanzohas
{quote} No confirmation yet, will wait and see. This looks like a typical x wave. I started with Mastering Elliott Wave which I regret due its complexity. Five waves to financial freedom by Ramki is by far the best choice for beginners imo.
Yeah great thanks - I actually have read that book , also tried his new book but is identical to 5 waves to financial freedom

His book indeed is excellent and so easy to follow
I Have Learned to Take Some Losses to Make Profits
  • #1,527
  • Apr 16, 2022 5:07am Apr 16, 2022 5:07am
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  • #1,528
  • Apr 20, 2022 3:50pm Apr 20, 2022 3:50pm
AU follow up: Finally dollar shows some sign of weakness.
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Gold follow up: Dollar weakness is going to be decisive, this could also go further north.

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NGAS: Was expecting reversal between 7.4 - 7.5 but it happened at 8. Possible support areas highlighted
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ma ma make me happy
  • #1,529
  • Jun 7, 2023 2:46am Jun 7, 2023 2:46am
Quoting hanzohas
My silly times x 2 wave count. Let's see if wedge formation holds if not i will quit exposing my EW fantasies for good... {image}
14 months after a false breakout, we are likely witness the epic reversal

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ma ma make me happy
  • #1,530
  • Jun 15, 2023 10:39am Jun 15, 2023 10:39am
Quoting hanzohas
{quote} 14 months after a false breakout, we are likely witness the epic reversal {image}
No reason to hesitate, January peak has to be challenged at some point.

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ma ma make me happy
  • #1,531
  • Jun 20, 2023 4:41pm Jun 20, 2023 4:41pm
Quoting hanzohas
{quote} No reason to hesitate, January peak has to be challenged at some point. {image}
I sadly had to close my longs near BE
Reversed, seems like going nowhere before exterminating bulls...
ma ma make me happy
  • #1,532
  • May 16, 2024 4:15am May 16, 2024 4:15am
Gold Analysis.

All roads lead to long only!!

There are different views: This rally is the beginning of the 5th and final wave after which there will be a substantial retrace to at least 50% of the whole long move.

This chart below is to show a possible ending diagonal as the 4th wave has encroached into the 1st wave. so, this possibility could have ended the 1st wave and there will be a fast retrace to at least 50% as a 2nd wave and then a rally again up to the 3rd wave to 161.8 %.

This is my first view. more to come.
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STING
  • #1,533
  • May 16, 2024 4:36am May 16, 2024 4:36am
My second view on gold:

Gold has completed 3rd wave at 161.8 % and is now in the 4th wave to FE 100 at 2358 to 2360. once completed there will be another rally to FE 200 (marked at 2413) at least. usually, commodities extend on the 5th wave. in that case you can expect price to reach 261.8% (2447 to 2450) before any retrace.
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  • #1,534
  • May 18, 2024 2:46am May 18, 2024 2:46am
Dear traders, my TP on gold has hit at 38.2 of this rally (2416). this could be the 1st wave of a 5th larger rally. Now expecting a retrace to 50% at 2347. Since gold is extremely bullish, there is a good possibility that gold will extend to 61.8 to 2445 before a retrace. if it extends, then we have to wait for the momentum to shift downwards for a minor wave 2. check the chart for details.
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STING
  • #1,535
  • May 20, 2024 4:30am May 20, 2024 4:30am
Gold has hit the 61.8 which seems perfect as this is a normal target for wave 5 of bigger wave 1. Now we need to wait to see if any lower support breaks to get a-b-c correction to the downside for a wave 2 of wave 1 or will it extend further. if gold breaks 61.8 convincingly, then another extension is possible as commodities extend a lot in the final wave. so, wait before selling, i would suggest waiting for a (minor 5 waves down as A) and a (3 wave retrace as B,) then we can sell 5 waves down for C. Selling blindly in a bull market will only end up losing it all.
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  • #1,536
  • May 20, 2024 5:58am May 20, 2024 5:58am
Here is a 5 minute chart of a good possibility. i will sell for a C wave down with a tight stop loss.
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STING
  • #1,537
  • May 20, 2024 11:27am May 20, 2024 11:27am
Quoting stringfx
Here is a 5 minute chart of a good possibility. i will sell for a C wave down with a tight stop loss. sell limit at 2424 , 2431 . Stop loss at 2439 . {image}
Gold update.
The probability of a C wave down has gone down now.
on the 5 minute chart, we never got a 5th wave, if it did, then it was a truncated wave. the only chance of a C wave down is an ending diagonal where the 4th wave has ventured into the 1st wave but it looks remote. so we can conclude this was a 3 wave correction and more upside to follow. will buy on a retrace for 2nd wave to 2426. SL at 2414.
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STING
  • #1,538
  • May 20, 2024 1:05pm May 20, 2024 1:05pm
welcome back @stringfx
Though this thread died as most others
  • #1,539
  • May 21, 2024 4:19am May 21, 2024 4:19am
gold seems to be in a triangle on lower time frame.
stop loss hit in selling. waiting for a breakout to buy.

since the correction in gold takes a long time, it would be best to wait out for the breakout to the top.
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STING
  • #1,540
  • May 21, 2024 4:20am May 21, 2024 4:20am
Quoting Merka
welcome back @stringfx Though this thread died as most others
Thanks Merka. we all have our priorities, i have the time and patience now, so started posting again.
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