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Elliott Wave Trading

  • #3,241
  • Sep 10, 2009 3:22pm Sep 10, 2009 3:22pm
Hi all wave traders ... I am looking to learn how to trade with eliot.Did anyone have indis to do that automatic or i must learn that tehnique ?





Thanks in advance

Petar


Cheers
"Buy on fear, sell on greed !!!
  • #3,242
  • Sep 10, 2009 4:15pm Sep 10, 2009 4:15pm
Quoting Petar_Serbia
Hi all wave traders ... I am looking to learn how to trade with eliot.Did anyone have indis to do that automatic or i must learn that tehnique ?

Thanks in advance

Petar

Cheers
Hi,
you just must learn that technique . There are no short cuts, just book expamples and thousands of hours in front of your charts.
  • #3,243
  • Sep 10, 2009 5:58pm Sep 10, 2009 5:58pm
Quoting pipPuller
Agree that a top in Euro is in place. But I am taking small targeted short positions at the moment. I will want Dollar Index to perform a little better than what it is doing at the moment, and also I would like oil to complete its target.
Apparently, EURO has completed its five waves in C of diagonal, but forex is always full of surprises. I have learned for a heavy price that calling a wave late is better than calling it earlier.


Pippuller, your wave iii in your oil chart of the enfing diagonal pattern would be the shortest wave.
  • #3,244
  • Sep 10, 2009 6:02pm Sep 10, 2009 6:02pm
Quoting Petar_Serbia
Hi all wave traders ... I am looking to learn how to trade with eliot.Did anyone have indis to do that automatic or i must learn that tehnique ?





Thanks in advance

Petar


Cheers
Hi Petar,

It is best to learn the skill. Buy the book "The Key to Market Behavior" by Prechter and Frost. Read the first 2 chapters and start labelling your own charts.
Post them, have people in here review them and learn from your mistakes.

There are no indicators, but there is software "Elwave" that will plot it for you. Very expensive though.

Good luck.
  • #3,245
  • Edited 9:09pm Sep 10, 2009 6:54pm | Edited 9:09pm
Quoting Ilovepippin
Pippuller, your wave iii in your oil chart of the enfing diagonal pattern would be the shortest wave.
I think in diagonal, wave iii being shortest does not matter. Any 5 wave overlapping wave structure can be a diagonal. All I know from reading Elliot wave theorists is that 1st wave of a diagonal triangle cannot be shorter than 3rd. I have not read any other guideline in elliot wave principles.
Although, I have at some other places that 3rd wave cannot be the shortest.
Plz correct me if I am wrong
  • #3,246
  • Sep 10, 2009 7:03pm Sep 10, 2009 7:03pm
Here are two charts... showing beauty and ugliness
Attached Image(s) (click to enlarge)
Click to Enlarge Name: beautiful.gif Size: 12 KB
Click to Enlarge Name: ugly.gif Size: 15 KB
  • #3,247
  • Sep 10, 2009 8:54pm Sep 10, 2009 8:54pm
USDCAD 4H
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 11-9-09.png Size: 26 KB
  • #3,248
  • Sep 10, 2009 9:10pm Sep 10, 2009 9:10pm
GBPUSD WEEKLY & 4H
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY 5-9-09 W.png Size: 22 KB
Click to Enlarge Name: GBPJPY 11-9-09 H4.png Size: 17 KB
  • #3,249
  • Sep 10, 2009 9:31pm Sep 10, 2009 9:31pm
I have just checked onto Elliot wave site, this count of EURO came in sep 9th. I am putting the actual graph from EWI here ...
Attached Image (click to enlarge)
Click to Enlarge Name: euro EWI.gif Size: 49 KB
  • #3,250
  • Sep 10, 2009 9:44pm Sep 10, 2009 9:44pm
Well, I think this new count solved a lot of guidelines issues I have with the diagonal count of EURO.
1) Now there is alternation in 2 and 4
2) Expanding diagonals are a rare phenomena, so let it be rare.
3) Now the waves fit into the channel perfectly
4) In diagonal, wave of i was smaller than iii, so that was also one of the issue

What you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD New.png Size: 71 KB
  • #3,251
  • Sep 10, 2009 10:18pm Sep 10, 2009 10:18pm
Quoting pipPuller
I have just checked onto Elliot wave site, this count of EURO came in sep 9th. I am putting the actual graph from EWI here ...
Hi pipPuller

If fifth wave thrust should be target = triangle target in classic.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 11-9-09 D.png Size: 7 KB
  • #3,252
  • Sep 11, 2009 5:13am Sep 11, 2009 5:13am
hi all,


my gbp/jpy h1 chart..


Upward movement is expected after it retrace near 62% fibo line..
Attached Image (click to enlarge)
Click to Enlarge Name: gbjpy h1.gif Size: 16 KB
  • #3,253
  • Sep 11, 2009 5:30am Sep 11, 2009 5:30am
Quoting pipPuller
Well, I think this new count solved a lot of guidelines issues I have with the diagonal count of EURO.
1) Now there is alternation in 2 and 4
2) Expanding diagonals are a rare phenomena, so let it be rare.
3) Now the waves fit into the channel perfectly
4) In diagonal, wave of i was smaller than iii, so that was also one of the issue

What you guys think?

Quoting yallah wave
Hi pipPuller

If fifth wave thrust should be target = triangle target in classic.
Hi Yallah wave and pipPuller,

After I have looked into your charts, seems like 1.500 range in reach.

And my Triangle count at daily chart might not be valid too if it reach ~1.500 range.
Attached Image(s) (click to enlarge)
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  • #3,254
  • Sep 11, 2009 7:41am Sep 11, 2009 7:41am
Pattern is maturing, spotting an ending diagonal at the end of wave III.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 091109-4h.jpg Size: 60 KB
Attached File(s)
File Type: doc Analysis 091109 eurusd.doc   91 KB | 408 downloads
  • #3,255
  • Sep 11, 2009 8:21am Sep 11, 2009 8:21am
Here is the updated chart of GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD update.png Size: 82 KB
  • #3,256
  • Sep 11, 2009 11:56am Sep 11, 2009 11:56am
It looks like dollar index has completed 5 waves in 5th wave. Here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Dollar Index.png Size: 79 KB
  • #3,257
  • Sep 11, 2009 12:17pm Sep 11, 2009 12:17pm
Quoting Ilovepippin
Pattern is maturing, spotting an ending diagonal at the end of wave III.
Ilovepipping
I am having hard time counting subwaves, in the chart you posted. May be its because of my inability. Can you please post the subwave count of your chart. It will be very helpful.
Thanks
  • #3,258
  • Sep 11, 2009 1:09pm Sep 11, 2009 1:09pm
Quoting pipPuller
It looks like dollar index has completed 5 waves in 5th wave. Here is the chart.
While I know it's just a matter of time, I believe we will have one more surge down in the Dollar to complete wave v of a 5th wave ending diagonal.
Attached Image (click to enlarge)
Click to Enlarge Name: usd.gif Size: 43 KB
  • #3,259
  • Sep 11, 2009 1:10pm Sep 11, 2009 1:10pm
Quoting pipPuller
Ilovepipping
I am having hard time counting subwaves, in the chart you posted. May be its because of my inability. Can you please post the subwave count of your chart. It will be very helpful.
Thanks
Hi Pippuller,
Yes, it requires some study. This is one I cam up with.
It looks like we had an expanding triangle for a wave 4 and an ending diagonal, truncated for a wave 5. Wave iv of the diagonal overhot the trendline, that happens often. Usually you should see a throwover for a wave v, but we have very strong resistance at 4620. It makes sense so far.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 091109-30m.jpg Size: 49 KB
  • #3,260
  • Edited 1:32pm Sep 11, 2009 1:30pm | Edited 1:32pm
Quoting pipeye
While I know it's just a matter of time, I believe we will have one more surge down in the Dollar to complete wave v of a 5th wave ending diagonal.

Pipeye , I totally agree with you ,buddy ...I put my chart up yesterday with the same count as yours .. although I was waiting for some one to correct the count if I was wrong .. .. anyways .... thanks for sharing your chart dude .

EDIT: forgot to post the link of the my previous post : http://www.forexfactory.com/showpost...postcount=3242
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