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Elliott Wave Counting with EG

  • #2,441
  • Mar 26, 2009 8:32pm Mar 26, 2009 8:32pm
SHORT SLs at 1.4475-85 were all captured.

Daily Stochastics has turned back into the trading Zone from being Overbought

4hr though is still at oversold level. it may stay there for the meantime as price is in a C or 3 wave down.

Now that the daily stoch is back into the trading zone, would this not signal a much bigger scale of down movement for this pair?

EG
  • #2,442
  • Mar 27, 2009 5:28am Mar 27, 2009 5:28am
Quoting el grande
Past the 61.8% retrace for wave iv and has overlap with wave i.

This Trade is at high risk status now.

wave v may have been truncated.
This did not develop as I initially expected as a motive wave.

The overlapping of waves seemed to have developed into an ending diagonal triangle with a throw under after price breached thru the weekly pivot.

Happy trading everyone.

EG
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  • #2,443
  • Mar 28, 2009 3:56pm Mar 28, 2009 3:56pm
Charts are posted to provide potential ideas of price direction. Validate with other strategies to increase chances of trading in the high probability direction.

Happy Harvest to All

EG

Former count (forecast) as posted before in early March. But with some modifications.
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  • #2,444
  • Mar 28, 2009 3:58pm Mar 28, 2009 3:58pm
Weekly
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  • #2,445
  • Mar 28, 2009 4:00pm Mar 28, 2009 4:00pm
Daily
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  • #2,446
  • Mar 28, 2009 4:01pm Mar 28, 2009 4:01pm
Cable_4hr
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  • #2,447
  • Mar 28, 2009 4:03pm Mar 28, 2009 4:03pm
Cable_1hr
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  • #2,448
  • Mar 29, 2009 8:25am Mar 29, 2009 8:25am
HOW u understend samting from u r chart?
  • #2,449
  • Mar 29, 2009 11:02am Mar 29, 2009 11:02am
Quoting Superscalper
HOW u understend samting from u r chart?

Only those who understand EW and Andrews Pitchfork will be able to understand.

I know these charts are not neat to many of you. But to those who want to learn, these charts contain the thought process that go with my EWA.

EG
  • #2,450
  • Mar 30, 2009 2:53am Mar 30, 2009 2:53am
EURUSD
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  • #2,451
  • Mar 30, 2009 3:27am Mar 30, 2009 3:27am
Dear EG sir, I am a little scared for posting something absolutely stupid. However, this seems to be the only way to learn. Your comments on whether this count can be considered as a possible alternative count will help me learn.
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  • #2,452
  • Mar 30, 2009 6:50am Mar 30, 2009 6:50am
Hi EG,

Can i request your updated Cable chart?
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  • #2,453
  • Mar 30, 2009 6:51am Mar 30, 2009 6:51am
Quoting el grande
deferring the Radical wave count on Cable and going back to former count.

Below are the potential scenarios to watch out for.

Note that fib retracement tool and fib extention tools were used inconjunction with the EW Guidelines.

Each chart in a separate post to separate the different timeframe charts for possible addition of comments later.

EG

Looking at the Daily Chart TF,...
Great analysis..

Thanks EG!
  • #2,454
  • Mar 30, 2009 7:53am Mar 30, 2009 7:53am
Nothing stupid there. Like you, I also think that wave C is not over yet. Here is an other count alternative.

R

Quoting Moiz
Dear EG sir, I am a little scared for posting something absolutely stupid. However, this seems to be the only way to learn. Your comments on whether this count can be considered as a possible alternative count will help me learn.
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  • #2,455
  • Mar 30, 2009 4:35pm Mar 30, 2009 4:35pm
Quoting Rocroy
Nothing stupid there. Like you, I also think that wave C is not over yet. Here is an other count alternative.

R



Attachment

Your wave iv has entered the territory of wave i. So is it still valid?
Collecting pips
  • #2,456
  • Mar 30, 2009 7:10pm Mar 30, 2009 7:10pm
Quoting el grande
Cable_1hr
I am very impressed by your precision! GBPUSD wave 3 touched the 200% retracement at 1.4100. Its amazing how Fib and Elliot works together. Your analysis is awesome!
Collecting pips
  • #2,457
  • Mar 30, 2009 8:20pm Mar 30, 2009 8:20pm
have been having internet connection problems at home so have to stay out to gain access. noaccess to same resources I have at home. but anyway , it seems we have more people going this way for now.

I will try to reply to each post that seeks a reply.

Remeber that the charts and potential forecasts in this thread are just ideas and are not exact.

Each currency pair has its own characteristics and you have to spend hours watching and studying them on how they actually move in relation to Elliott Wave and Fib Retracements and extentions.

The guidelines are there . But you need to determine for yourself which levels they normally react to.

EWA only provides the potential directions whether UP or DOWN or SIDEWAYS.

But with those choices come various wave structures that you may also expect.

Wave structures follow the same EW Principles on which ever time frame you do your analysis.

But at each TF also, anything can happen that could totally change the way you analyze or the potential direction and structure of your higher timeframe charts.

But just the same, this is what makes EWA awesome yet very challenging.

Go back to the EW RULES and Guidelines. know them by heart ..... keep practicing and applying these to your Analysis and soon you will find them automatically become part of every look you make on a price chart.

EG
  • #2,458
  • Mar 30, 2009 8:45pm Mar 30, 2009 8:45pm
Quoting farawave
EURUSD
Listen up everyone interested in EWA. I do not pretend to know everything and I use various technical indicators to help me validate my wave counts.

Many of you post your wave counts without showing other or any technical indicators. If you feel comfortable about it that way. that is fine with me.

I just want to make it clear with the rest of those new to EWA that it is ok to use other technical indicators to assist you in checking your wave counts.

Find something that suits you . Experiment , observe and spend time to learn and develop something that you yourself have observed as this will be difficult to unlearn.

Those who are not willing to exert effort and expect everything to be spoonfed, they won't survive. Better move on to the other strategies.

farawave, I will not comment on your chart or wave count. but I will direct you to try using an oscillator and MACD.

apply that on the 4 hour chart you have too and also that Pitchfork. You will be helping the others understand your chart. The daily is more understandable as it is.

Also, evryone will benefit to check their wave counts on various time frames. the lower time frames are part of the higher timeframes. and each TF follow the same Principle in terms of wave structure development.


EG
  • #2,459
  • Mar 30, 2009 9:00pm Mar 30, 2009 9:00pm
Quoting Moiz
Dear EG sir, I am a little scared for posting something absolutely stupid. However, this seems to be the only way to learn. Your comments on whether this count can be considered as a possible alternative count will help me learn.

Moiz..

The fearful give up and will never know the results or answers to their queries. This thread is always open to all who wish to study and share their wave counts.

And you are right.... to keep posting your charts and wave counts is a very good way if not a very effective way to learn and find guidance or confirmation or comments from our friends from allover. Let us take advantage of this internet benefit.

Note your Trendlines specially if they form a triangle.

when labelling, I would normally start with A or 1, then B or 2 then C or 3.

if definitely can nnot become a 2 if if goes beyond A or 1. B is allowed if there is an option for an expanded FLAT.

it usually becomes a 3 if it is more than 161.8% of 1. But this is not a strict guideline as you will find out .

now for the triangles.. A or 1 can be a Leading diagonal triangle and usually have a wave structure of 3-3-3-3-3.

use an oscillator and you can find some guideline there.

Your count also shows an overlapping of wave 1 and 4. this is usually allowed in a triangle only or in 5 wave structured corrective waves.

Hopefully this would help you.

EG
  • #2,460
  • Mar 30, 2009 9:08pm Mar 30, 2009 9:08pm
Quoting Blue bottle
Hi EG,

Can i request your updated Cable chart?
BB...

the charts on 2446 and 2447 are still in use.

Nothing definite really but I still use them as a guide. anything can happen any time.

So I leave my options open.

EG
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