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  • #146,921
  • Sep 27, 2009 8:22am Sep 27, 2009 8:22am
Quoting stewrigh
Told you I wasn't an expert.

I thought there were 5 wave counts and this is 5.
Yes, 5 waves but also corrective movements a, b, and c follow. You can also have extended corrective movements: a1, b1, c1, a2, b2...etc. Also, when counting waves, it is not rare to see a wave 5 failure (where wave 5 fails to make a new high above wave 3).
  • #146,922
  • Sep 27, 2009 8:23am Sep 27, 2009 8:23am
50% is good enough....if you use MM ...

Quoting trading801
hi all.. the wave theory, how often does it play out accurately ?

50%?
In Charts We Trust!
  • #146,923
  • Sep 27, 2009 8:24am Sep 27, 2009 8:24am
However as shown in my last statement, I manage 98% of all my trades to profit...




Quoting trading801
hi all.. the wave theory, how often does it play out accurately ?

50%?
In Charts We Trust!
  • #146,924
  • Sep 27, 2009 8:25am Sep 27, 2009 8:25am
See that's the part I don't understand are the extended movements etc....and what to do on a failed wave..

I'm still a green pea in EW as well...however, when it comes to Fibs....that's my bread and butter..

Quoting PriceVolume
Yes, 5 waves but also corrective movements a, b, and c follow. You can also have extended corrective movements: a1, b1, c1, a2, b2...etc. Also, when counting waves, it is not rare to see a wave 5 failure (where wave 5 fails to make a new high above wave 3).
In Charts We Trust!
  • #146,925
  • Sep 27, 2009 8:25am Sep 27, 2009 8:25am
Quoting trading801
hi all.. the wave theory, how often does it play out accurately ?

50%?
The problem with EW is that often you have professionals that will disagree with each other as to the wave count. I find it interesting, but I prefer to just focus on the price action on the chart in front of me....but that's my preference.
  • #146,926
  • Sep 27, 2009 8:33am Sep 27, 2009 8:33am
Quoting PriceVolume
Yes, 5 waves but also corrective movements a, b, and c follow. You can also have extended corrective movements: a1, b1, c1, a2, b2...etc. Also, when counting waves, it is not rare to see a wave 5 failure (where wave 5 fails to make a new high above wave 3).

Ok so on my chart I drew the 5 impulse waves and now we can expect to see 3 corrective waves(a,b and c).

But I think we are still in wave 5 - is that right. Where/how do you see wave c?
  • #146,927
  • Sep 27, 2009 8:33am Sep 27, 2009 8:33am
Dont care about Wave

Dont mind about Counts

Just Sell on Rally

and 1,4920 is the Best point ever for Short

TKS
  • #146,928
  • Sep 27, 2009 8:33am Sep 27, 2009 8:33am
i donno why people like to say my i have ___ % return lol

sounds so !@#$ sick
  • #146,929
  • Sep 27, 2009 8:35am Sep 27, 2009 8:35am
Quoting X.Oden
See that's the part I don't understand are the extended movements etc....and what to do on a failed wave..

I'm still a green pea in EW as well...however, when it comes to Fibs....that's my bread and butter..

Yeah, the extended movements can get quite nasty. An interesting perspective is that since EW is based entirely on market psychology and it's participants, the world has changed in the amount, speed, and frequency that information that effects the psychology is transmitted - thus it could be argued that the underlying foundations of EW have been forever changed. Given the fact that the professional trading community is obssessed with Fib numbers, I find that they are certainly more practical and dependable. Another reason that I don't purely subscribe to EW is that it leads to a sense of "fatalism", which, imho, is very bad for trader psychology.
  • #146,930
  • Sep 27, 2009 8:56am Sep 27, 2009 8:56am
Quoting stewrigh
Ok so on my chart I drew the 5 impulse waves and now we can expect to see 3 corrective waves(a,b and c).

But I think we are still in wave 5 - is that right. Where/how do you see wave c?
What timeframe?
  • #146,931
  • Sep 27, 2009 9:07am Sep 27, 2009 9:07am
Quoting PriceVolume
What timeframe?
Monthly
  • #146,932
  • Sep 27, 2009 9:12am Sep 27, 2009 9:12am
Quoting Alihuzaifa
i donno why people like to say my i have ___ % return lol

sounds so !@#$ sick

muaaahhaha
  • #146,933
  • Sep 27, 2009 9:12am Sep 27, 2009 9:12am
EURUSD- Even though EUR still maintains its medium term uptrend triggered off the 1.2456 level in Mar’09, nearer term that trend has stalled and corrective pullbacks triggered pushing the pair lower to close at 1.4689 the past week. This is coming on the back of a failed test of the 1.4844 high(highest price since Dec’08) on Wednesday leaving the pair with downside risk towards the 1.4611 level, its Sept 21’09 low with a loss of the latter targeting the 1.4516 level where its Sept 14’09 low is located. The bigger test if continued corrective declines are seen lies at the 1.4446 level, its Aug 09 high. That level which now coincides with its MT rising trendline should provide a strong support and push the pair back up again. On the other hand, in order for its medium term uptrend to be triggered and its present corrective weakness cut short, a return above the 1.4844 level must occur putting the next upside at the 1.4875 level, representing its Sept 21’09 high ahead of the its psycho level at 1.5000 and then the 1.5082 level, its Aug 10’08 high. On the whole, though biased to the upside medium term ,EUR is now being challenged by corrective weakness
  • #146,934
  • Edited 9:30am Sep 27, 2009 9:15am | Edited 9:30am
Quoting stewrigh
Not sure what u mean by counts and I'm not an EW expert but I think this is wave 5.

Not sure if it'll carry on up tho.

Just read some other posts on here predicting a massive fall - take your pick.
ok mate , nobody can be sure about but I use my chart in trading still in wave 5 & more to go up eventually & in this cogestion phase it may make sideways for long time to break UP. so upmovements not limited but not down ones ,limited and full of suspecion. no big fall expected here but my max level fall is 1.4444, range should occure 1.444 to 1.4850(1.5010).Time will tell whats true , no expert again & ready fail counting .sorry instead of daily posted weekly , daily chart added only wave 5..
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #146,935
  • Sep 27, 2009 9:22am Sep 27, 2009 9:22am
Quoting stewrigh
Monthly
Looks like a complex wave 4. Wave 2 was simple, so I would anticipate wave 4 to be complex. If wave 2 had been complex, I would have anticipated a simple wave 4. Timing wise, it's a bit early for wave 5 to have begun. But this interpretation should do nothing more than demonstrate the subjectivity of EW.
  • #146,936
  • Sep 27, 2009 10:04am Sep 27, 2009 10:04am
I dont understand this wave analysis how can u analyze with different time frames?
  • #146,937
  • Sep 27, 2009 10:24am Sep 27, 2009 10:24am
Quoting Alihuzaifa
I dont understand this wave analysis how can u analyze with different time frames?
Waves within waves. A wave 2 on a daily chart may be waves 1-5 on a hourly.
  • #146,938
  • Sep 27, 2009 10:30am Sep 27, 2009 10:30am
Euro is ready to fall i think it might go upto 6750 then it will drop like a stop. and will not see 6750 area again.
  • #146,939
  • Sep 27, 2009 10:55am Sep 27, 2009 10:55am
Good probability that this is good news for the Euro:


Merkel 'heads for' new coalition [news.bbc.co.uk]
  • #146,940
  • Sep 27, 2009 11:00am Sep 27, 2009 11:00am
Quoting PriceVolume
Waves within waves. A wave 2 on a daily chart may be waves 1-5 on a hourly.
yeah i know thats the reason i am asking...isnt it so confusing ?
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