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Elliott Wave Trading

  • #4,381
  • Mar 13, 2010 9:57pm Mar 13, 2010 9:57pm
Hi there everyone, I am new to all of this (forex), but i have been learning through ebooks and reading a lot here and there trying to figure out whats the best analysis we can get from a chart.

Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to Elliot Wave analysis (1938).

I have been thinking this for a long time and I guess there is no better strategy than combining Elliot wave analysis and Fibonnaci levels (and maybe an indicator like momentum or/and rsi) as this are the older methods of analysis.

As I say, "enough of parlapié..."

I draw some lines...and I basically want your opinion about that. thanks in advance

http://img23.imageshack.us/img23/4842/14mar0353.jpg
  • #4,382
  • Mar 13, 2010 11:18pm Mar 13, 2010 11:18pm
Quoting MarketPips
Does anybody knows some good book on Elliott Wave study.
I prefer a short and clear explanations.
Thank you.
ewp


elliot wave Principle

http://www.elliottwave.com/store/def...asp?view=books

The Start of Elliot wave
DRAGON-TECHNICAL ANALYSIS!
  • #4,383
  • Edited 12:46am Mar 14, 2010 12:30am | Edited 12:46am
Quoting MarketPips
Does anybody knows some good book on Elliott Wave study.
I prefer a short and clear explanations.
Thank you.
elliot wave and fibo are synchronizing of it's nature of fractal. Look at leaf , small fractal equal to big fractal to a big tree. Because leaf comparing a big tree as lower and high geometrical. It's same apply to price , 12345 ABC exist within u're bigger time frame and lower time frame --- because its infinite fractal lower and highest as u want to go . It's is impossible to count them at Only one time frame.......it's subjectivity and it's about art's not a science...when it's fits for u then it works....not for everybody...
EW happen and happen again at market chart's understand them built u patient instantly .because waiting to pattern fold identified is a real deal...


GO HERE AND UNDERSTAND "FRACTAL"
it's change my trading life style - and it's supposed to everybody..who like an art's
http://www.forexcoachingpros.com/
  • #4,384
  • Mar 14, 2010 12:44am Mar 14, 2010 12:44am
Quoting tmcp
Hi there everyone, I am new to all of this (forex), but i have been learning through ebooks and reading a lot here and there trying to figure out whats the best analysis we can get from a chart.

Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to Elliot Wave analysis (1938).

I have been thinking this for a long time and I guess there is no...
when i read ur chart...this is my opinion....U'RE sruggling picking peak and bottom...and mostly concentrating on USD analysis...market will change all the time and momentum sometime exhaust and sometime burst...divergence a setup that will broke u're discipline cause it' takes long time to wait for them..and overbought are works well on commodity such S&P and NASDAP ...overbought means "overbought" or currency become too overbought@more strength...
just my 2 cents...

maybe this is your interpretation....
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  • #4,385
  • Mar 14, 2010 1:07am Mar 14, 2010 1:07am
Quoting tmcp
Hi there everyone, I am new to all of this (forex), but i have been learning through ebooks and reading a lot here and there trying to figure out whats the best analysis we can get from a chart.

Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to Elliot Wave analysis (1938).

I have been thinking this for a long time and I guess there is no...
OPINION :
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  • #4,386
  • Mar 14, 2010 9:47am Mar 14, 2010 9:47am
Also look out for truncated 5th wave...

P.S. and this is how Fibonacci works in real life :
http://fun256.com/photos/1606.jpg
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  • #4,387
  • Mar 14, 2010 9:59am Mar 14, 2010 9:59am
Quoting tmcp
hi there everyone, i am new to all of this (forex), but i have been learning through ebooks and reading a lot here and there trying to figure out whats the best analysis we can get from a chart.

Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to elliot wave analysis (1938).

I have been thinking this for a long time and i guess there is no...
its just not about counting......
this is your chart....look all those chart are "any potential" up and down.....
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  • #4,388
  • Mar 14, 2010 10:04am Mar 14, 2010 10:04am
Quoting magictrader
Also look out for truncated 5th wave...

P.S. and this is how Fibonacci works in real life :
http://fun256.com/photos/1606.jpg
that fractal point on "tits" are covered...????
hhahahahhahahhaha.....fibo spiral....
  • #4,389
  • Mar 14, 2010 1:34pm Mar 14, 2010 1:34pm
Quoting magictrader
Also look out for truncated 5th wave...

P.S. and this is how Fibonacci works in real life :
Ahahah, nice pattern!

Jalibest, you are saying that I am struggling picking peak and bottom...can you explain where?

thanks in advance
  • #4,390
  • Mar 14, 2010 1:42pm Mar 14, 2010 1:42pm
Quoting vincy balboa
ewp


elliot wave Principle

http://www.elliottwave.com/store/def...asp?view=books

The Start of Elliot wave
Thank You very much.
  • #4,391
  • Mar 14, 2010 3:27pm Mar 14, 2010 3:27pm
Summary

Long term outlook: Up
Medium Term Outlook: Down
Short Term Outlook: Sideways to Down
Medium Term Revision Point: Break above 21.31
Potential Medium Term Target: 8.45 and lower

Both the scenarios presented in the last report are holding equally valid for now. We present this Report with updated images of the Metal, reproducing the relevant parts of the last week’s Report:

http://www.thetradingsolutions.com/w...510silver1.bmp


In the first case (first image), taking a potential wave 1 at the December 30, ’09 low, wave 2 at the January 11, ’10 high and wave 3 at the February 5, ’10 low, we can only expect a first wave expanding diagonal forming, as the ongoing potential wave 4 has already significantly entered within the limits of wave 1. If this scenario is to hold valid, we should see a reversal in the price while keeping below the January 11, ’10 high, marked as wave 2. The more likely reversal points in price seem to be around the 18.00 level.

http://www.thetradingsolutions.com/w...510silver2.bmp


Alternatively, taking a potential wave 1 at the December 30, ’09 low, wave 2 at the January 11, ’10 high and wave 3 at the February 5, ’10 low, we would expect a possible resumption of the uptrend, which would also force a revision to our medium term marking as well as the medium term outlook of the metal. For this scenario to hold valid, we would expect to see silver breaking above the December 3, ’09 highs (19.46) without breaking below the February 5, ’10 low (14.66).
  • #4,392
  • Mar 14, 2010 3:32pm Mar 14, 2010 3:32pm
Quoting MarketPips
Does anybody knows some good book on Elliott Wave study.
I prefer a short and clear explanations.
Thank you.
Not book but short and clear:
http://www.tradersedgeindia.com/elliott_wave_theory.htm
  • #4,393
  • Mar 14, 2010 5:56pm Mar 14, 2010 5:56pm
'Robert Balan - Elliot Wave Principle' is a good starting point
  • #4,394
  • Mar 14, 2010 6:16pm Mar 14, 2010 6:16pm
Thanks for your inputs.
  • #4,395
  • Edited 6:55am Mar 15, 2010 6:18am | Edited 6:55am
Quoting tmcp
Ahahah, nice pattern!

Jalibest, you are saying that I am struggling picking peak and bottom...can you explain where?

thanks in advance
just if ure really picking peak and bottom then I'll try to sharing.....
are really pick peak and bottom...????
And i see u'r chart are slightly that ure looking for momentum burst....especially flag pattern been allocated at the chart....u're momentum trader..?????
  • #4,396
  • Mar 15, 2010 7:18am Mar 15, 2010 7:18am
Subjectivity is objectivity..
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  • #4,397
  • Mar 15, 2010 1:18pm Mar 15, 2010 1:18pm
Quoting jalibest
Subjectivity is objectivity..
I guess, you are trying to make expectations only based on elliot wave analysis. try combine elliot wave with fibo and some momentum indicators...
By the way...I have learnt from EWI books and they use momentum indicators do confirm the price with power of the trend/wave.

So am I a momentum trader?! Probably...but i am too newbie to tell you that!

just saying
  • #4,398
  • Mar 15, 2010 6:35pm Mar 15, 2010 6:35pm
Quoting tmcp
I guess, you are trying to make expectations only based on elliot wave analysis. try combine elliot wave with fibo and some momentum indicators...
By the way...I have learnt from EWI books and they use momentum indicators do confirm the price with power of the trend/wave.

So am I a momentum trader?! Probably...but i am too newbie to tell you that!

just saying
i am using fibo too...and my chart rarely setup with fibo cause im waiting waiting for real setup....and if the time coming that i.am comfortable to put all in good condition then...all EW, correlation,CCY,Fibo retracement fibo expansion,AO indicator are same agree to synchronizing what i mean good to trade...the rest of it...go!....i dont like to think further...stress free...

lets share EU
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  • #4,399
  • Mar 15, 2010 8:00pm Mar 15, 2010 8:00pm
Whats happening in the stock market?
DJIA - We are going to new highs
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  • #4,400
  • Mar 15, 2010 8:01pm Mar 15, 2010 8:01pm
Dollar Index
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