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The Basics of Elliott Wave Theory

  • #121
  • Apr 22, 2010 2:23am Apr 22, 2010 2:23am
one question i NEVER seem to find answers to in all videos and articles i've read about the Elliot wave theory is... HOW DO I IDENTIFY THE ORIGIN OF THE WAVES??? I mean... how do i draw or count the waves? where do i start from? how do i know where to start from? i've seen several examples on charts but no one ever seems to explain why they chose theirs points as the origin of the 1st wave.

So could someone please explain this to me? i know quite a bit about the Elliot wave theory now, but all that knowledge is USELESS cos i still can't apply anything i've learned.

so a little help PLEASE
  • #122
  • Jun 1, 2010 6:37pm Jun 1, 2010 6:37pm
  •  crmcwi
  • | Joined Mar 2010 | Status: Entrepreneur, Programmer, Analyst | 35 Posts
Guys, I'm admittedly new to EWT.

any suggestions would be very much appreciated.

Can anyone help identify what wave we are in now?

Is this some kind of extension. Are we in a new downward, very fast primary bearish wave pattern?
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  • #123
  • Dec 10, 2010 10:14pm Dec 10, 2010 10:14pm
Quoting kheme
one question i NEVER seem to find answers to in all videos and articles i've read about the Elliot wave theory is... HOW DO I IDENTIFY THE ORIGIN OF THE WAVES??? I mean... how do i draw or count the waves? where do i start from? how do i know where to start from? i've seen several examples on charts but no one ever seems to explain why they chose theirs points as the origin of the 1st wave.

So could someone please explain this to me? i know quite a bit about the Elliot wave theory now, but all that knowledge is USELESS cos i still can't apply...
Any feeback from above question?
  • #124
  • Dec 11, 2010 1:49am Dec 11, 2010 1:49am
kheme,

based on the works of Glenn Neely, the Dow count started in 1765:

http://www.neowave.com/info-past-interview.asp

Check the "HISTORIC Archives" section and in the Article section the
Cycles Magazin from 1988 especially.

Sixer
  • #125
  • Dec 11, 2010 3:41am Dec 11, 2010 3:41am
Quoting Sixer
kheme,

based on the works of Glenn Neely, the Dow count started in 1765:

http://www.neowave.com/info-past-interview.asp

Check the "HISTORIC Archives" section and in the Article section the
Cycles Magazin from 1988 especially.

Sixer
From wikipedia:
"The Dow Jones Industrial Average was founded by Charles Dow on May 26, 1896, and represented the dollar average of 12 stocks from leading American industries. Previously in 1884, Mr. Dow had composed an initial stock average called the Dow Jones Averages, which contained nine railroads and two industrial companies that appeared in the Customer's Afternoon Letter, a daily two-page financial news bulletin which was the precursor to The Wall Street Journal."

How could the count start in 1765?
Tra-X
  • #126
  • Dec 11, 2010 8:53am Dec 11, 2010 8:53am
Does this look about right? My first time using the wave theory....

http://content.screencast.com/users/...53.19%20PM.png
What is any ocean but a multitude of drops?
  • #127
  • Dec 12, 2010 12:36am Dec 12, 2010 12:36am
Xhale12,

your count is not acc. to the elliott rules. Check the tutorials:

http://www.actionforex.com/education...-200411145694/

Sixer
  • #128
  • Feb 19, 2012 1:00pm Feb 19, 2012 1:00pm
Hi guys,

this is my first time trying to understand Elliot wave. I posted my chart. Could someone take a look at it and see if this is correct? or have i Violated one of the rules for wave counting?

Wave 4 should not overlap with Wave 1, except for wave 1, 5, a or c of a higher degree
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  • #129
  • Last Post: Mar 21, 2012 4:46am Mar 21, 2012 4:46am
Awesome ! Thank you !
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