Elliott Wave Trading

Continuing http://www.forexfactory.com/showpost...postcount=1046

Both orders activated, and just tighten the first stop a bit. I will try to hold these longer because if this is the start of a wave 3 then we should go at least 100% wave 1.

Good luck everyone.

saw that great job bro
amazing how many of us have different trading style but conlusion is most of the times same

my reversed cable count..

Wht you guys think?

yes, it's a valid one now.
soso, great call...

cheers

Yep, especially when dealing with EW one can always find at least one alternate count in the opposite direction.

But like any other trading strategies the key is to patiently wait for the A+ setups only. They come when wave pattern & price level meet.

My cable count, where wave c of wB is IM

Wave 1 can be longer than Wave 3 -

Wave 3 can't be the shortest of W 1/3/5, but Wave 3 can be shorter than either Wave 1 or 5 but not both.

EurChf chart..

gbp usd up trend

This is my first post to this site so if I’m in the wrong thread I apologize and please direct me to the newbies thread. I’m new to EW and am wondering what to make of my miscount shown in the chart. What would I call the continuation of the trend after the 5 wave?
Actually thought the count was looking good.



http://farm4.static.flickr.com/3120/...91fb6f.jpg?v=0

Hi Ivanhoe. Welcome. You are in the right thread.

May I suggest you should study the Elliot Wave Principle - Robert Prechter, or some other reliable source to get the basics down.

The short answer is impulse waves extend so one of either 1, 3, or 5 is at least 1.618 longer than the next longest. Generally, it is wave 3. A good clue is wave 3 extensions channel fairly well - with a slight parabolic incline toward vertical. 1st extensions do not channel well, they spread out like a fan getting larger; while 5th extensions tend to narrow like the Eiffel tower shape.

Extensions are a requirement in my book, subdivisions are optional, the three impulses cannot be about equal to each other, one needs to be longer. And 3 cannot be the shortest or shorter than 2.

The trick is to spot the overlap in the 1, 2 waves, with a smaller i, ii, iii, iv, v extension to complete 3, finished by a final 4, 5. Look to see if wave 3 is short and retraces below the top of wave 1 - an impulse rule.

After many attempts, you can spot extensions real time with good accuracy. Look for 9 wave (or 13) as the impulsive count. In other words, 5 peaks and 4 valleys. If it counts as 3, 7, 11... then it is corrective - likely zig-zags if you count 2, 4, 6 or 8 peaks.

AFTER a 5 wave impulse, you will get a corrective :3 pattern in simple or complex form. Euro/Usd completed a C wave at 1.47, and made a 5 wave move down in 1 or C to 1.38 (in my preferred count).

Blue Bottle posted this chart from Prechters online course a dozen posts ago.
http://www.forexfactory.com/attachme...0&d=1229678118

what do u think?

geppy 1hr count.

hello blue bottle,

yeah! new on ur thread . just share my chart.

Guppy is a ozzie trader with a MA technique named after him. That is geppy.

thanks for the correction.

dow weekly count. looks like we are screwed.

GbpJpy Monthly Chart.
http://4.bp.blogspot.com/_RQBMMMIJpt...600-h/jepy.gif

blue,

does your chart show you beyond 1975?

NO, it starts from 1978 only..