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Elliott Wave Counting with EG

  • #2,301
  • Jun 9, 2008 8:39am Jun 9, 2008 8:39am
Quoting ffujifilm
Hi EG or anyone,
If u have time just comment my counting...is it valid?
Break the wave rules.Its invalid now..
  • #2,302
  • Jun 29, 2008 8:09am Jun 29, 2008 8:09am
Usd/Cad

Short Term wave-count ...............

---------------------------------------------------
Only a Probability !..................... Not Cast in Stone

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

http://i28.tinypic.com/bg7l9x.gif
  • #2,303
  • Edited Jul 1, 2008 6:56am Jun 30, 2008 6:11pm | Edited Jul 1, 2008 6:56am
Usd/Cad


Yesterday .....to..........Today !
--------------------------------------------
Gap now closed ...........

---------------------------------------------------
Original Post : .......See Post # 2302

Wave " C " Rally
Long @ .0096 ( Stop .0065 ) ............... Targets ( See chart below )

/////////////////////////////////////////////////////////////////////////////////
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  • #2,304
  • Edited 12:15pm Aug 1, 2008 8:41am | Edited 12:15pm
4hour chart wave count.

Note that this is how I see Price to be developing. I have already closed my last short trade.

Have set myself up for LONG Trades. looking for price to achieve 90% retrace at least if this wave 4 corrective wave expansion is a FLAT.

Why possibly a FLAT? THere are 5 overlapping zigzag waves which can be grouped into just 3. For A to be in 3 wave structure, Wave B is expected to be either a FLAT or a TRIANGLE.

If a FLAT, the price should retrace by at least 90% up to 132% while if a triangle this should be about 61.8% for Leg "a".

While a do not hold any short right now, I have several Long trades. NO SL so I would strongly advise anyone planning to use my chart as basis for their trade NOT TO DO SO unless you are ready to face the consecquences.

if it goes down, there is no SL while if it goes up then I look for the completion of wave B.
Attached Image(s) (click to enlarge)
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  • #2,305
  • Aug 3, 2008 10:37am Aug 3, 2008 10:37am
A head and shoulders is an ABC correction what happens to the count after the correction? Is the uptrend going to continue...and what would the count look like if it did? Or is a head and shoulders the beginning of a downtrend in the case of the end of a bull market...and what would the count look like?
  • #2,306
  • Aug 3, 2008 11:23am Aug 3, 2008 11:23am
It depends on where it is in the cycle if it forms off 5,5,5,5 then it's at least an extreme corection....if it happens of just one count of 5 (small degree) it's a wave 2
  • #2,307
  • Edited Aug 4, 2008 8:18am Aug 3, 2008 8:08pm | Edited Aug 4, 2008 8:18am
I tried attaching or embedding links to this post hoping to have the videos showing on the thread itself instead of going to You Tube. Unfortunately, it is not possible to show the video here just like on the Blogger website.


May I suggest to FF Moderators/owners to look into this possiblity so that we need not get out of the FF website to watch video presentation of presentations related to forex trading. You can check how Blogger does it. I know because I was able to do this on my Blog. It makes for better and easier organizing of video presentations.

EG
  • #2,308
  • Aug 4, 2008 8:27am Aug 4, 2008 8:27am
GBPUSD_080408_240min
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  • #2,309
  • Aug 4, 2008 3:24pm Aug 4, 2008 3:24pm
GBPUSD
Attached Image (click to enlarge)
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  • #2,310
  • Aug 4, 2008 9:53pm Aug 4, 2008 9:53pm
can I use Elliot wave on my M15 chart? And what is the best TF to use Elliot Wave?
  • #2,311
  • Aug 4, 2008 10:28pm Aug 4, 2008 10:28pm
15 min EW counts are nightmares.....the longer the time frames, the easier it is to see the waves......easiest, if you have the nads to stay in trades is 1 day and 1 week charts. basic tennent.....the higher degree the easier to trade consistantly....if you need to trade on 15 min charts, your better off to throw out the count and look for 3 wave corrections, they will usually be followed by 5 wave advances.....or vice versa......
  • #2,312
  • Aug 5, 2008 12:50am Aug 5, 2008 12:50am
Quoting blucky
can I use Elliot wave on my M15 chart? And what is the best TF to use Elliot Wave?
Elliott wave is robust fractal.. same but not exact. for me elliott wave can using in any time frame, but the best tf is higher, more accuracy. in my obersavtion the best time frame is 4h
Artist lead and hacks ask for a show of hands.
  • #2,313
  • Aug 5, 2008 4:15am Aug 5, 2008 4:15am
Quoting blucky
can I use Elliot wave on my M15 chart? And what is the best TF to use Elliot Wave?
I would agree with al yaqen. EW is possible to use in any timeframe even down to the 1min chart.

It is best to use on the higher timeframes though if you are just starting to learn as you will have time to digest wave structure and measurement as it will take longer to change.

Once you see a high probability wave structure, you will have higher probability of profiting as you know you enter a trade based on a longer timeframe.

The next challenge for new students of EW will be their tolerance to stay in the trade during corrections.

EG

PS.

Currently stuck with my long trades
  • #2,314
  • Aug 5, 2008 4:19am Aug 5, 2008 4:19am
@12345abc & al_yagen
thanks for the information
  • #2,315
  • Aug 6, 2008 12:51pm Aug 6, 2008 12:51pm
Hi everybody.
Here is my view for eurusd
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  • #2,316
  • Aug 18, 2008 4:44pm Aug 18, 2008 4:44pm
What's your view on the USD/JPY pair?

I'm long because I'm seeing that it's not finished doing a Wave 4 correction and will then go on up to complete Wave 5.

Another question: Do you find fundamentals affecting your wave count or do you ignore FAs altogether?

TIA.
Amor Fati--F. Nietzsche
  • #2,317
  • Nov 10, 2008 5:53pm Nov 10, 2008 5:53pm
Quoting africanpip
Hi EG,

I have closed all short trades .0185. That was the target I set myself from .0421 so I am satisfied with the outcome. It maybe premature to call the end C now but I have labelled it non-the-less. I am quite happy to sit out until the outcome of the inflation report from the UK.

where do i find an elliot wave count indicator for mt4 - one that show 1,2,34 actually on the chart etc?
  • #2,318
  • Nov 10, 2008 6:03pm Nov 10, 2008 6:03pm
Quoting lawrence
where do i find an elliot wave count indicator for mt4 - one that show 1,2,34 actually on the chart etc?
there is no such thing.
  • #2,319
  • Nov 16, 2008 5:19pm Nov 16, 2008 5:19pm
EG, are your still posting your counts? if so please let me know where this is happening.

thank you
  • #2,320
  • Dec 26, 2008 10:38pm Dec 26, 2008 10:38pm
Quoting daytek
EG, are your still posting your counts? if so please let me know where this is happening.

thank you
Daytek,

NOPE. I have not been posting my counts for quite a while now. LABELLING and cleaning up my charts have really been a herculean task for me. I thought that I could make it a lot easier by posting videos on YOU TUBE but it too was still too much.

Anyway, I will try to post some charts here from time to time.

EG
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