Elliott Wave Counting with EG

Wave b

Trendlines to aid EW Analysis

NZDUSD Target on Monthly Chart

EW on the weekly Chart

EW Count on the Daily Chart

NZDUSD 4H Chart

NZDUSD - 1H Chart

NZDUSD - m30 chart

GBPUSD Update.

Currently, down by 188 pips, already earned 132. I am letting the current negative trade stay until I can identify the bottom here.

I could probably ride the wave down, but will not. Will get back into a new trade.. that is add to my existing one on the Cable later when it bottoms. I will put in an additional trade.

This is where it is sometimes difficult when you are trading live. That is me speaking from experience. More often than not, emotions kick in.

The way I see it now is that .... it may be necessary to have a big SL like 200 to 300 for GBPUSD, AUDUSD and NZDUSD.

Although I do not recommend that to anybody. I will most likely adopt it on my trades even on LIVE ones. And I will only have myself to kick if I make a mistake on my EW Count. So do not base your trades on my charts. You have to know what, why and how you will trade a currency pair.

So here is the update on my Cable Chart

EG

How I see it on the Cable

SR Levels for NZDUSD

Cable in the US Session

AUDUSD Update

Hi El grande
was reviewing somre of yor charts

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quite frankly , they are confusing -

They are good but confusing at times
- People looking at your last series of charts will be confused .....
you basically have too much going on on the individual charts

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Here are some suggestions -

I think you should leave the WXY formations alone

Don't label anything on any chart WXY anymore .....
Please Stop , if you can ( I'm only trying to help )

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I have read Nelson Elliott' s work and he doesn't
speak of WXY formations , So forget about them

Concentrate on finding ABC Corrections
this is the heart of Elliott Waves Formations

also try to locate end of E-waves
I haven't seen you point out any E-Waves anywhere !

Why is this ?
- are you not aware of End of E-wave Formations ?
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E-wave are important because they are occurring
most of the time within Consolidation periods ........

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by the way
the best ( 3 ) places to look to enter a market
when utilizing Elliott Waves
is the End of Wave B or the End of Wave 2

and also what is called an Extended 5th wave
(an extend 5th wave is 5 minor waves waves within an end of a 5th wave )

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Then End of a wave 4
is the worst Place to look to enter a market
Why ?
- because this is where consolidation is most likely to occur .

This is statistically speaking of course ......

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You want to know more ?
Send me a Private Message .........Good Luck.....

Here is the latest Long-term Usd/Gbp Wave -count (Weekly Bars )

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Simple and Clear ..............( No use of WXY )



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See Chart Below
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Gbp/Usd appears to be topping out at the End of a Wave 5
and moving towards Wave A Low .............It's that simple

Pg-2
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Gbp/Usd ( Daily Bars )


El- Grande
Keep you eye on the 5 wave Group in the red color.........
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This is the count that appears to in play these days

If you are intrested in Wave -Counts on any other chart
let me know -I will post it right here or send me a P.M.
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MAJOR CROSSES ONLY !

Usd/Chf , Usd/Yen , Usd/Cad , Eur/Usd , Gbp/Usd , Aud/Usd
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Hi marketwavez,

I am a EWT goer and have spent half a year dedicated to it. It seems to me that EUR/USD is at its end of Wave 5 as the weekly chart and four hours chart are showing a truncated wave. In addition, MACD pattern also agrees with the top. But I am not sure if GBP/USD is at it top as well. I am very confused at its counting.

Thanks for presenting your chart.

Elaine

Hi MarketwaveZ

I just started looking into Elliot Wave a month ago. I certainly would like to see ALL the charts - any pairs. It is by seeing that we can learn easier. In order not to hijack this thread, would you consider starting another thread for Elliot Wave newbies?

Thanks

Thank you marketwavez.

Sent you a PM.

Yes, you can post your charts here so we may learn from you. If you decide to post in your own thread, that is also fine. I will look forward to learning from you.

EG