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Attachments: Elliott Wave Trading
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Elliott Wave Trading

  • #721
  • Oct 30, 2008 6:51pm Oct 30, 2008 6:51pm
Possible count
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  • #722
  • Oct 30, 2008 6:56pm Oct 30, 2008 6:56pm
UsdCad chart
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  • #723
  • Oct 30, 2008 7:07pm Oct 30, 2008 7:07pm
Quoting johntsai
Hi all,

here is one of the best ebook i ever read about the wave theory.

it is much easier to understand and apply.

http://rapidshare.de/files/40796847/Elliott_Waves_-_Advanced_Get_-_Applying_Technical_Analysis_Elliot_Waves.pdf.html

hi Johntsai,


Welcome here and thanks for the ebook.
  • #724
  • Oct 30, 2008 7:15pm Oct 30, 2008 7:15pm
EurUsd chart
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  • #725
  • Oct 31, 2008 2:13am Oct 31, 2008 2:13am
One alternative more on yen...

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  • #726
  • Oct 31, 2008 2:26am Oct 31, 2008 2:26am
UsdChf chart

I am planning for short entries..
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  • #727
  • Oct 31, 2008 2:54am Oct 31, 2008 2:54am
I'm not sure if B is ready. Check it on a shorter tf ...
A potential short entry at 1.1645?

R

Quoting Blue bottle
UsdChf chart

I am planning for short entries..
  • #728
  • Oct 31, 2008 3:21am Oct 31, 2008 3:21am
Quoting Rocroy
I'm not sure if B is ready. Check it on a shorter tf ...
A potential short entry at 1.1645?

R
Hi,

Already entered SHORT at 1.1534.

I guess too risky, so moved my SL to breakeven.
  • #729
  • Oct 31, 2008 3:59am Oct 31, 2008 3:59am
Am looking for the attached scenario, if it plays out, to short this pair.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #730
  • Oct 31, 2008 4:02am Oct 31, 2008 4:02am
Quoting Rocroy
One alternative more on yen...
Elliott said contracting triangles cannot be a wave 2.

It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
  • #731
  • Oct 31, 2008 5:13am Oct 31, 2008 5:13am
I'm sure you are right, I do not know ew that well yet. But imo correcting that does not change counting much, only some details in the beginning are affected.

R

Quoting FXoffshore
Elliott said contracting triangles cannot be a wave 2.

It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
  • #732
  • Oct 31, 2008 5:36am Oct 31, 2008 5:36am
Am looking to go LONG if the scenratio plays out.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #733
  • Oct 31, 2008 6:19am Oct 31, 2008 6:19am
I agree, 149.7 perhaps ...

Quoting soso
Am looking to go LONG if the scenratio plays out.
  • #734
  • Oct 31, 2008 11:14am Oct 31, 2008 11:14am
Sorry about my bad measurement, need to be more careful, correct entry was 1.1682.
Oh well, 1.1645 is not that far away. Did you get a good entry?

R

Quoting Blue bottle
Hi,

Already entered SHORT at 1.1534.

I guess too risky, so moved my SL to breakeven.
  • #735
  • Oct 31, 2008 4:57pm Oct 31, 2008 4:57pm
usdcad
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  • #736
  • Oct 31, 2008 6:56pm Oct 31, 2008 6:56pm
Quoting Rocroy
Sorry about my bad measurement, need to be more careful, correct entry was 1.1682.
Oh well, 1.1645 is not that far away. Did you get a good entry?

R

Nope, stopped at break even. That was a wrong entry.
  • #737
  • Oct 31, 2008 7:51pm Oct 31, 2008 7:51pm
Hi! I don't know much about the Elliot's theory but I understand that the main trend is established by waves 1 through 5 and can be either up or down. The three following waves always move in the opposite direction of waves 1 through 5, good so far I guess, when I get kind of confused is when it comes to cycles, supercycles, , grand super cycles and so with all the other divisions of waves, but I really want to learn. I’ve been reading more about this method and I’ve been looking forward to keeping up on the thread. By the way, thanks.
  • #738
  • Oct 31, 2008 7:59pm Oct 31, 2008 7:59pm
Quoting FXoffshore
Elliott said contracting triangles cannot be a wave 2.

It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
In Elliott's day there was no such thing as intra-day data such as H1 or 5M so I think EW rules should not be taken as absolutes - including the biggie that W4 shouldn't trade below W1 high. BTW this "rule" wasn't originally in Elliott Wave Theory. He put it in later on to please the wall street crowd.

Sometimes the price data just won't cooperate. Is it better to stick to the rules or find trades?
  • #739
  • Nov 1, 2008 8:24am Nov 1, 2008 8:24am
Just checking the corrective waves in eurusd , seems still to down to complete wave B & then C if may not up above A but may touch & then finish big wave 4 of weekly counts to come down . as global turmoil yet to settle it may even go much extremes than expected .

http://www.gogetin.info/eu111.gif

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #740
  • Nov 1, 2008 3:49pm Nov 1, 2008 3:49pm
Quoting SunTrader
... so I think EW rules should not be taken as absolutes - including the biggie that W4 shouldn't trade below W1 high. BTW this \"rule\" wasn't originally in Elliott Wave Theory. ...Sometimes the price data just won't cooperate. Is it better to stick to the rules or find trades?
I agree. Glen Neely covers this in his book, when he argues that EW using candles is not as accurate as using averaging data points. For most of us, this can be easily accomplished by using the 'line' view to cut average candle wicks. It also helps when doing counts by seeing through some noise in a different view. I used it a few times this week when wave 4 crept into wave 1 territory, and could justify relaxing the rule for a few pips. I see the rules as items not to be dismissed lightly for good reasons (that would allow incorrect counts to pass), rather than face an alternative count. Obey the rules, but use discretion when it is on the border line - and be aware of the consequences of changing rules. (experience says the rules are there for a reason). The EWI people also will not toss out a count because of a few pips from a candle wick, knowing that the structure of the count is most important.
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