Elliott Wave Counting with EG

Quoting osaze

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I need an EA that trades strictly with Elliot wave.

The parameters re:

1)It wouldn't guess that the wave has ended

2)It wouldn't guess that the wave has also started

3)It should use trailling stop

4)it should be able to work very well on anytime frame

It should be accurate.............

thanks

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Quoting tdion

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El Grande,

Let me be the first to say: you get an A for effort. Your dedication to marking up charts is beyond compare.

Thanks. I try to put the notes or explanations on the chart for easy referencing to remind me of the EW rules which should have been applied and why. These help me review the charts after price has developed and allow me to verify my basis for projections.

You also see the fib tools as these are what I basically use together with the EW rules and projection level guidelines. I hope to entice others who are also studying ew to contribute in this thread and share how they study ew and the tools they use. And it is also my hope that others may learn as I am learning too.

I have been looking for sites that explain their ew counts and clearly show how they do it. but so far the samples have been very few and rare. I have found that many ellioticians are afraid or maybe most do not want to share they counts and some their techniques too.

Mind if I ask a few personal questions? With all the EW analysis you are doing, what are your returns lookings like?

I am still currently Studying several systems together with EW and most of the trades are currently done on DEMO trades. Since I am basically studying the systems now... I do most of the trades on DEMO accounts and the returns are very encouraging and sometimes mind blowing.

EW shows so much promise as a tool. But it can be enhanced by other systems. IT can be voodoo for you, but I believe that it is a near 100% predictive in terms of forecasting price specially if your targets are trading just the waves 3 and waves C.

EW is voodoo in my mind at this point. Well, if Point and Figure can work with stock charts, I guess EW or some other predictive measure could work with forex.

Unfortunately it is all too subject. The 1 2 3 4 5 labels are often too ambiguous to try to nail down to definitive points.

Anyway, I just wondered what your success/loss ratio is, and whether there is consistency in all this work you do. I haven't read the thread, because I'd rather go to a dentist than learn EW. But that doesn't mean I'd love to hear your perspective on your results.

Regards.

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Quoting el grande

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Forget About the GAP.

I do not see it in my other computers.

Below is the proposed count and Potential Price Route for next week.

As you will see, it is possible that the Move down is already finished with the wave 5 down ending as an ending diagonal triangle.

Followed by a new 5 wave up which looks like trying to finish of the sub wave 5 of this wave 1 up.

You will also notice the FIB Retracement tools and the FIB extention tools on the chart.

I am just trying to see how the Price moves fit into the EW Rules I have encountered.

1. if w5 down is finished, then we should expect the new wave 1 up to over balance this diagonal w5 down.

2. looking at how price has already developed for this wave 1 up and using the internal swings to project the end of it,

a. 1st we see that wave i is almost equal to wave iii. But wave iii is slightly longer.

b. the guideline on extended waves show that if wave i and wave iii are almost equal and do not clearly show any form of extention, then we expect wave v to be extended.

c. moreover, wave v is expected to be 161.8% of w0 to w3 and that means w0 to w iii. That gives us a projected top of FE 161.8 234.03. But because this is GBPJPY, often times it still exceeds this by going for FE 178.6 @ 234.78..... But I would settle for FE 161.8 @ 234.78

d. From this rally, we expect it to be followed by a DIP which is the retracement of our wave 1 up by going down towards 78.6% retracement ( 226.24 ) or up to 85% @ 225.54 or even till 100% retracement @ 223.91.

Count is invalidated by price dipping lower than 223.91. SO SL @ 223.90

EG

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Quoting kenari05

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can't wave 5 longer than wave 3, can it?

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Quoting JackSpade

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Nice charts EG.

Here some waves Ive been looking at. I got the original red & yellows from the Elliot wave newsletter (their count was on the yen futures as I recall, so `upside down` to us).

I notice that the pink 50% is close to the green 62% and also broken support at yellow (i). Im going to wait and see if it pauses up around there for a short, if it even goes back up there that is...

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Quoting el grande

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FE 100.0 @ 226.81
Daily Pivot @ 226.80
Last Low @ 226.66

Buy Limit Orders Activated @ 226.81

Monthly S2 @ 226.56

EG

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Quoting el grande

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FE 100.0 @ 226.81
Daily Pivot @ 226.80
Last Low @ 226.66

Buy Limit Orders Activated @ 226.81

Monthly S2 @ 226.56

EG

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