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Elliott Wave Counting with EG

  • #261
  • Aug 14, 2007 11:08pm Aug 14, 2007 11:08pm
Quoting zpe618
1.9926 hit == equality of Clusterwise's call for "A" wave....


Still looks like there is enough momentum to aim for the 1.9750 ??

Time will tell....
Which currency pair are you referring to ?
Can you post a chart also ?
  • #262
  • Aug 15, 2007 2:03am Aug 15, 2007 2:03am
Quoting marketwavez
Which currency pair are you referring to ?
Can you post a chart also ?

GBP/USD

Clusterwise's post here
Primum quærite regnum Dei, et ómnia adjiciéntur vobis, dicit Dóminus.
  • #263
  • Aug 15, 2007 12:43pm Aug 15, 2007 12:43pm
Here is the result for Friday's Usd/Yen .............

See Original Post # 247

Click Here
http://forexfactory.com/showthread.php?t=20436&page=17

-------------------------------------------------------------------

This one didn't work out ............
Attached Image (click to enlarge)
Click to Enlarge Name: YEN-08-10-07-01.jpg Size: 57 KB
  • #264
  • Aug 15, 2007 12:44pm Aug 15, 2007 12:44pm
Pg-2
Results............(Trade Stopped Out ! )
Attached Image (click to enlarge)
Click to Enlarge Name: YEN-08-15-07-01.jpg Size: 56 KB
  • #265
  • Edited Nov 5, 2024 3:07pm Aug 15, 2007 1:06pm | Edited Nov 5, 2024 3:07pm
EG
please read this file about the origins of Elliott Waves
--------------------------------------------------------------

Pay close attention to Page 4 of this document where you see " E waves "

- As i was telling you before
Please stop labeling your charts with WXY sequence !

If you read the tutorioal below about Elliott Waves you will see there is no mention of WXY .
..... So why do you use them ?


Also you will see what I was talking about with E waves

You have so many charts in here and none of them have an E wave on them ......

2 weeks ago you asked what is an E wave

Well Africanpip posted this file last week .... It's very helpful !
----------------------------------------
Go and read page 4 of this document ,

E Waves are explained briefly ..............

{ copyrighted attachment deleted by staff }
  • #266
  • Aug 15, 2007 3:03pm Aug 15, 2007 3:03pm
These occur in combinations, double and triple three's, Elliott labelled them differently, or a flat followed by a zig zag but mostly a combination which is horizontal in structure or character. These occur in corrective waves. W and Y in double zig zag and/or double three's. Z in triple zig zags or triple three's. X the label for the actionary waves between.


Frost & Prechter (1999). Elliott wave principle: Key to market behavior. John Wiley & Sons. pp 52-55.
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #267
  • Aug 15, 2007 3:06pm Aug 15, 2007 3:06pm
Thank you marketwavez.

Reviewing it now.

EG
  • #268
  • Aug 16, 2007 1:33pm Aug 16, 2007 1:33pm
...................................................
Eur/Usd - ( Long-Term )

What's all the Fuss about ?

---------------------------------------------
The Euro and the Dow Jones
are busy reminding us of the Signs of the Times ......

---------------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: EUR0-08-16-07-1.jpg Size: 51 KB
  • #269
  • Aug 16, 2007 4:01pm Aug 16, 2007 4:01pm
sorry. but is anyone here checking on the GBPJPY ew count?

looks like a doji or pinbar on the 15m chart. and seems that wave 4 (ABC)retracement is finished at a little over 23.6%

most likely a continued move south now..

EG
  • #270
  • Aug 16, 2007 5:21pm Aug 16, 2007 5:21pm
Quoting el grande
sorry. but is anyone here checking on the GBPJPY ew count?

looks like a doji or pinbar on the 15m chart. and seems that wave 4 (ABC)retracement is finished at a little over 23.6%

most likely a continued move south now..

EG

Ok... looks like it was only good for a scalp. on that doji (GBPJPY 15m)

23.6% retracement may not have been enough.

If that was a failure, then at 227.20 may just be the wave 3 for the wave C up in this wave 4 retracement. next target would be 38.2 retracement at 228.69 and another up at 50% 230.94 before it goes back south for wave 5.
  • #271
  • Aug 16, 2007 5:36pm Aug 16, 2007 5:36pm
Cable may now be on a wave 4 up as retracement:

23.6 @1.9917
38.2 @2.009
50% @ 2.0084

often seen at 38.2%


other potential levels would be
1.9972
1.9941
1.9930


1.9897

EG
  • #272
  • Aug 16, 2007 5:42pm Aug 16, 2007 5:42pm
Quoting marketwavez
...................................................
Eur/Usd - ( Long-Term )

What's all the Fuss about ?

---------------------------------------------
The Euro and the Dow Jones
are busy reminding us of the Signs of the Times ......

---------------------------------------------------
Marketwavez

Like many of the major currency pairs that show a trend breakout on the Daily chart. on my daily chart, EURUSD has formed a candle with a long shadow which could signal a reversal by now and may have already finished Wave C.5 or this majjor retracement.

4hour chart also has a upper trendline breakout already but has not yet closed.

What do you think?

EG
  • #273
  • Aug 17, 2007 12:39am Aug 17, 2007 12:39am
Quoting el grande
Cable may now be on a wave 4 up as retracement:

23.6 @1.9917
38.2 @2.009
50% @ 2.0084

often seen at 38.2%


other potential levels would be
1.9972
1.9941
1.993
1.9897

EG

Hi EG,

I tend to agree with you, good probability of a wave 4 up at this point, to about 2.000 and then down for wave 5 of this C.

I am long (nervously at the moment) at 9775...

Regards.
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #274
  • Aug 17, 2007 1:20am Aug 17, 2007 1:20am
africanpip,

are you trading just the cable or are you in on the gbpjpy too?

this baby is such a fast moving one and if your ew counts are well...... your account will be overflowing with pipsat the rate they are going.


at cable's rate, it is lagging compared to the first 2.

eg
  • #275
  • Aug 17, 2007 2:16am Aug 17, 2007 2:16am
Quoting el grande
africanpip,

are you trading just the cable or are you in on the gbpjpy too?

this baby is such a fast moving one and if your ew counts are well...... your account will be overflowing with pipsat the rate they are going.


at cable's rate, it is lagging compared to the first 2.

eg

Well that one didn't last long, had a tight stop at 9750. just as well it looks like. Just when I thought things where slowing down....LOL

I never really looked at gbpyen before now. dabbled a bit usdyen. But some people must have made a bucket on this thing....I missed the boat yesterday morning and have been too afraid to get in. How much more has this thing got?

AP
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #276
  • Edited 4:09am Aug 17, 2007 3:46am | Edited 4:09am
hi everyone, here is another wave count chart from my theory. we will se what will heppen in next week.

el grande,tnx for that post, i hope that my chart realy help you!!
wish you many pips, but more money

here is my analysis for eur_usd on daily chart.

http://www.trading-fx.si/forum/privatslike/fx16.gif
  • #277
  • Edited 7:07am Aug 17, 2007 6:36am | Edited 7:07am
africanpip...
looking at my 15m chart on GBPJPY,
219.29 was the Wave 4.C.5.1
225.38 is my Wave 4.C.5.2 This is nearly 78.6 retracement of Wave 4.C.5.1 To me , if 225.38 is not penetrated UPwards, then this could be the 5.2 of the wave C.5

I will probably place my trade once it foes lower than 219.29.... this could signal or confirm that this is now an impulse wave. and not a corrective sub wave still.

Wave 4.C.3 ended at 221.55

This is for DEMO purposes only.

I have further checked chart on this GBPJPY Pair. The 23.6 retracement may not be enough. This could retrace further up to the following levels:

232.03
229.61
228.58
227.18

Before heading South to the following levels.


GBPJPY Targets
219.43
215.75
213.33
209.76

Check your trendlines , support levels too if this could be valid targets and if no ew rules are broken.

Overall, most of the Pairs that went south are now in the retrace mode. and GBPJPY most probably will do too. I would expect a higher retracement because of that long plunge. It has to bounce a bit hard from that long fall.

Retracement I will trade with my demo. I will stay and watch till I get new signal to Short this Pair.


on several occassions, I have just set my trades with 200-300 SL and put my TP and leave. If you watch these trades, chances are, you gather very few pips or may end up negative. Best to try on demo.

EG
  • #278
  • Aug 17, 2007 10:30am Aug 17, 2007 10:30am
Partial Achievement of Targets for GBPJPY..

I have further checked chart on this GBPJPY Pair. The 23.6 retracement may not be enough. This could retrace further up to the following levels:

232.03
229.61
228.58 Achieved
227.18 Achieved


Heading South now.

EG
  • #279
  • Aug 17, 2007 10:37am Aug 17, 2007 10:37am
Quoting el grande
Cable may now be on a wave 4 up as retracement:

23.6 @1.9917 Achieved
38.2 @2.009
50% @ 2.0084

often seen at 38.2%


other potential levels would be
1.9972
1.9941
1.9930 Achieved


1.9897 Achieved

EG
Partial Targets Achieved
  • #280
  • Aug 17, 2007 11:04am Aug 17, 2007 11:04am
This is what I was supposed to write for EURUSD this morning:

Wave 4 Retracement:
1.3529
1.3501
1.3473
1.3439

All Achieved and even exceeded.

The reason I write this ( I know others will criticize me for this, But it does not matter. ) This is just to illustrate further what marketwavez has been vocal about Using EW Theory in your Price Analysis and not to listen or be affected by news.

It is just so amazing how EW can help provide idea as to price direction and potential levels.

EG
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