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Elliott Wave Trading

  • #3,261
  • Sep 11, 2009 2:12pm Sep 11, 2009 2:12pm
Thank you all guys,i will start to learn Eliot Wave trading becouse i think this will be great exp for me and i want to improve my tehnique...

I now just read tutorials for Eliot and watch video clips.When i learn tehnique i will upload my eliot wave chart and you guys correct me if i do that wrong.I have Elwave and that will be for help.If anyone have pdf book or video clips about Eliot please feel free to PM me.

Please tell me guys how many pips you usualy learn with Eliot (weekly) and for wich paris ?

Thanks in advance

Petar

Cheers
"Buy on fear, sell on greed !!!
  • #3,262
  • Sep 11, 2009 2:50pm Sep 11, 2009 2:50pm
Quoting Petar_Serbia
Thank you all guys,i will start to learn Eliot Wave trading becouse i think this will be great exp for me and i want to improve my tehnique...

I now just read tutorials for Eliot and watch video clips.When i learn tehnique i will upload my eliot wave chart and you guys correct me if i do that wrong.I have Elwave and that will be for help.If anyone have pdf book or video clips about Eliot please feel free to PM me.

Please tell me guys how many pips you usualy learn with Eliot (weekly) and for wich paris ?

Thanks in advance

Petar

Cheers...
Depends, sometimes we win, sometimes we lose.
Great advantage to elliott is that you can limit your losses as elliott gives you pretty good stops.

I am a swingtrader, on my blog I post my trades. I think I gained 1900 pips last month (in 3 trades). This month so far a small gain.

Again, best thing is the limited risk. I gain all my profit with less than 3% risk and almost no drawdown.
I love it when I don't get those margin calls...
  • #3,263
  • Sep 11, 2009 3:02pm Sep 11, 2009 3:02pm
Thanks Pipin

I will learn tehnique and step by step with you guys i will understud Elliot ...


Pipin i will folow your blog and i will learn better ...


For Elliotwavers Cheers
"Buy on fear, sell on greed !!!
  • #3,264
  • Sep 11, 2009 3:25pm Sep 11, 2009 3:25pm
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.
pipPuller and pipeye great post i'm also with u
http://www.forexfactory.com/showthre...09#post3046609
  • #3,265
  • Sep 12, 2009 10:36am Sep 12, 2009 10:36am
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  • #3,266
  • Sep 12, 2009 10:43am Sep 12, 2009 10:43am
Aside from what happened in the EURO last week, SP-500 price action is telling me now that wave Y is not yet over and we might be able to test 1100 area in SP-500. Dollar index has another leg down left. I am preferring the pipeye count over mine, because that make much better sense to what I have done myself. Thanks to pipeye for sharing the count.
Also, thanks to Ilovepipin for sharing his count, and that was an excellent effort.
But I have realized as being Elliottician is that wave theory is about probabilities, and to be able to successfully utilize wave principle to make money, one should consider all probabilities and select the best count.
It looks from the wave count of SP-500, that risk aversion in the markets is not yet over, so I think there are good chances that EURO might go up a little more. In that case, I will like myself to be prepared before things happen. In this regard, I have came up with this alternative count.
Please share your views on this count, and point any mistakes I have made. Because I do make lot of mistakes.
In the alternative count, it is an expanding triangle within an expanding triangle. It is the first expanding triangle I am doing myself. Only price action can validate the count.
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  • #3,267
  • Sep 12, 2009 11:05am Sep 12, 2009 11:05am
Here is another chart of the same count that I posted above
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  • #3,268
  • Sep 12, 2009 2:57pm Sep 12, 2009 2:57pm
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?
I agree which you said but when you count smaller wave, we find that contrary to EWI See attached.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 12-9-09 H4.png Size: 58 KB
  • #3,269
  • Sep 12, 2009 2:59pm Sep 12, 2009 2:59pm
Quoting pipPuller
Here is another chart of the same count that I posted above
Great count.
  • #3,270
  • Sep 12, 2009 3:34pm Sep 12, 2009 3:34pm
Quoting yallah wave
Great count.
Thanks Yallah Wave.
It means you agree with the count... bcoz it is an expanding triangle, I am kind of hesitant about it.
  • #3,271
  • Sep 12, 2009 4:04pm Sep 12, 2009 4:04pm
Another depiction of EWI count
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD EWI.png Size: 76 KB
  • #3,272
  • Sep 12, 2009 5:51pm Sep 12, 2009 5:51pm
GBPUSD Daily
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 12-9-09 D.png Size: 25 KB
  • #3,273
  • Sep 12, 2009 9:37pm Sep 12, 2009 9:37pm
Hello Elliott traders , this is my first chart Elliot analys .After read one times Patric Elliot Wave Theory book and after watched some video tutorials.PLease correct me if i am wrong and post corect chart 1h EUR USD .


Cheers Guys





Petar
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"Buy on fear, sell on greed !!!
  • #3,274
  • Sep 12, 2009 9:48pm Sep 12, 2009 9:48pm
Good first effort, mine was horrible.
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  • #3,275
  • Sep 13, 2009 12:09am Sep 13, 2009 12:09am
Frankly, the patterns and labeling looks a bit weird... Expanding diagonals do exist sometimes, but this does not look like it to me. Take a look at some earlier diagonals and examples, so you'll notice the difference...

Imo w4 is an ordinary a-b-c correction, till something (probably news causing a disturbance) happens. So the count could be as follows (see the chart) or there could be developing a more complex correction.

But actually, who cares what these final pattens will be like. We know the target for the price is very close and are ready to go short.

Let's assume we would go short 1 std lot right now. How many dollars do you think we would make with this last big wave down?

R

Quoting pipPuller
Here is another chart of the same count that I posted above
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 18 KB
  • #3,276
  • Sep 13, 2009 1:00am Sep 13, 2009 1:00am
Quoting pipPuller
Another depiction of EWI count
Thanks , I like this count & still believe eu in wave 5 & subwave (III) of iii of (3) to either finished or to be done monday then go down to iv within the context of expanding triangles , max down to 1.4446.lots more to go up perhaps .
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #3,277
  • Sep 13, 2009 2:52am Sep 13, 2009 2:52am
Quoting Petar_Serbia
Hello Elliott traders , this is my first chart Elliot analys .After read one times Patric Elliot Wave Theory book and after watched some video tutorials.PLease correct me if i am wrong and post corect chart 1h EUR USD .

Cheers Guys

Petar
Nice count, my advice is that the market is not so perfect and most of the times there is hard to label subwaves but general look is more important.
  • #3,278
  • Sep 13, 2009 10:05am Sep 13, 2009 10:05am
Thank you guys.

Magictrader i agree with you.Market is sometimes beuty and sometimes terbile but with good MM and RRR we will put Forex on foot ,i trade long time and i have good results on scalp but now i dont have time to stay on comp 20 hour per day becouse i studing and i have school in Serbia about Forex.I think that Elliot Wave with Fibo help are best trading style to trade on long time period, 1h daily weekly etc.

pipPuller thanks for your correections i mean that was correciotns for example on EWI site but now i think that is second type of corrections.Look now picture and correct me if i am again wrong and post how should correct.

Please anyone post GBP USD 1h current situation i cant identify correct....


Now 2 chart

Cheers
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Attached Image
"Buy on fear, sell on greed !!!
  • #3,279
  • Sep 13, 2009 12:32pm Sep 13, 2009 12:32pm
MY thoughts for GBP/USD
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  • #3,280
  • Sep 13, 2009 1:20pm Sep 13, 2009 1:20pm
On GBP/USD it looks like some kind of double zig zag correction because it moves to good in a channel.
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