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Elliot wave, Harmonic And Ichimoku in CHINESE STYLE

  • #3,661
  • Jan 8, 2011 12:47pm Jan 8, 2011 12:47pm
Hi all,

My first post here. So hello everyone!

Would like to know if anyone here really use the Pre-Constructive Rules of Logic in Chapter 3 of MEW for counting wave? I just finished reading them but find them really hard to use! And I don't even know where to start......
Is all the labeling of Structure list really necessary?
Take my view with a pinch of salt!
  • #3,662
  • Jan 8, 2011 12:50pm Jan 8, 2011 12:50pm
My attempt to count EU.
What do you think.?
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  • #3,663
  • Jan 8, 2011 5:57pm Jan 8, 2011 5:57pm
Quoting anudora
Hi all,

My first post here. So hello everyone!

Would like to know if anyone here really use the Pre-Constructive Rules of Logic in Chapter 3 of MEW for counting wave? I just finished reading them but find them really hard to use! And I don't even know where to start......
Is all the labeling of Structure list really necessary?
Not necessary imo, the important thing is more often than not, whatever the wave pattern being predicted changes accord to market condition. It helps you if you keep in mind where the price is in the context of bigger wave.
Ew can be helpful if you don't over complicate things. It will give you a general idea where price turning point might be. It is important to keep in mind whether you want to be expert in wave counting or you wanna be able to take trades based on what you see.
Just keep the basic rules and use your trading skills. You will be fine.
Just my 2c. Just don't over complicate things as I see in many people.

Trading plan is much more important than correct labeling.
  • #3,664
  • Jan 8, 2011 9:48pm Jan 8, 2011 9:48pm
I worked a bit on my chart...
welcome to comment on it.
I am not sure about the last (4).
but correction looks like a proper sideways correction to this elliot rookie.
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  • #3,665
  • Jan 8, 2011 10:18pm Jan 8, 2011 10:18pm
Quoting pkimnyc
Not necessary imo, the important thing is more often than not, whatever the wave pattern being predicted changes accord to market condition. It helps you if you keep in mind where the price is in the context of bigger wave.
Ew can be helpful if you don't over complicate things. It will give you a general idea where price turning point might be. It is important to keep in mind whether you want to be expert in wave counting or you wanna be able to take trades based on what you see.
Just keep the basic rules and use your trading skills. You will...
+1. Balan summarizes best. Identify the ewp and trade with stop and reverse strategy over. Stoploss... Never loose. . Equity in forex over anything else


Ewp= Elliott wave pivot point
  • #3,666
  • Jan 8, 2011 10:43pm Jan 8, 2011 10:43pm
Quoting longshot_nl
I worked a bit on my chart...
welcome to comment on it.
I am not sure about the last (4).
but correction looks like a proper sideways correction to this elliot rookie.
Very nice count. I'm leaning towards abc instead impulse count on recent leg down, but let's see what pa does when we get there. Cheers.
  • #3,667
  • Edited 2:37am Jan 9, 2011 2:12am | Edited 2:37am
Quoting pkimnyc
Very nice count. I'm leaning towards abc instead impulse count on recent leg down, but let's see what pa does when we get there. Cheers.
PK..

There is a massive Bullish Divergence on Weekly and almost on DAILY AS WELL....and 4 HR is Oversold..

I am expecting a TG on weekly Chart..3 MONTHS TIME...

MAJOR RESISTENCE LEVELS..1.2882...1.2860...1.2842.

IF below 1.2700... then we have 1.2587....1.2308....1.2190(MAX)..(C Failure)..IF 1.22 breaks ever ......1.1671..
Markets are not Random, they are designed!
  • #3,668
  • Edited 8:32am Jan 9, 2011 8:13am | Edited 8:32am
Quoting Raza
PK..

There is a massive Bullish Divergence on Weekly and almost on DAILY AS WELL....and 4 HR is Oversold..

I am expecting a TG on weekly Chart..3 MONTHS TIME...

MAJOR RESISTENCE LEVELS..1.2882...1.2860...1.2842.

IF below 1.2700... then we have 1.2587....1.2308....1.2190(MAX)..(C Failure)..IF 1.22 breaks ever ......1.1671..
OS sometimes doesn't mean a thing in tending condition unless larger tf agrees.
Important support has been taken out on Friday and I don't see any sign of bulls yet.
Weekly divergence can take time or it can simply means a pull back. Take a look at monthly stoch and tell me what you see. Bulls or bear?

Like I said before, i'm selling all rallies. Let's see if the divergence plays out. If it plays out then ill be selling at the top again.
  • #3,669
  • Jan 9, 2011 8:33am Jan 9, 2011 8:33am
Quoting pkimnyc
OS sometimes doesn't mean a thing in tending condition unless larger tf agrees.
Important support has been taken out on Friday and I don't see any sign of bulls yet.
Weekly divergence can take time or it can simply means a pull back. Take a look at monthly stoch and tell me what you see. Bulls or bear?

Like I said before, i'm selling all rallies. Let's see if the divergence plays out. If it plays out then ill be selling at the tip again.
OK,,,,

I know OVERSOLD levels what they do....

I cant look at the Monthly chart...cause my broker does not have one....

Weekly is as far as it goes...

what is take profit price... for your rally? or where this rally is gonna stop FOR a wave UP...
Markets are not Random, they are designed!
  • #3,670
  • Jan 9, 2011 8:46am Jan 9, 2011 8:46am
Quoting Raza
OK,,,,

I know OVERSOLD levels what they do....

I cant look at the Monthly chart...cause my broker does not have one....

Weekly is as far as it goes...

what is take profit price... for your rally? or where this rally is gonna stop FOR a wave UP...
Tp, I did already. I didn't say I'm expecting a rally. I'm only saying if it happens. Too lazy to boot up my machine to post a chart. I will later if you want me to. As far as the reshort zone goes, its either the broken support or a minor weekly tl that's just taken out. Will have to see the wave structure if rally happens then. Monthly stoch, it just crossed down at 80 level. Good sign of more bears to come out and play. My final tp for short is where monthly lower tl is. A good place to think about bulls scenario.

I do agree that we are in correction wave in monthly tf. After this correction is over, bulls for many months, maybe?
  • #3,671
  • Jan 9, 2011 10:07am Jan 9, 2011 10:07am
Quoting pkimnyc
Very nice count. I'm leaning towards abc instead impulse count on recent leg down, but let's see what pa does when we get there. Cheers.
Thats why show drawn the context this time.
It cannot be an ABC becouse its got to be an impulse wave for the first A to Z.
Anyways.. the top ended with a harmonic and this may be the start of a month of consolidation.
The entry of my previous chart could mean wave 3 is shortest and it cannot be with this count so this is my next trade.
B of the upcomming ABC must be a correction of more then 3 waves so i am tought.
The upcomming A is impulsive so a tight stop can be used.
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  • #3,672
  • Jan 9, 2011 10:18am Jan 9, 2011 10:18am
Quoting longshot_nl
Thats why show drawn the context this time.
It cannot be an ABC becouse its got to be an impulse wave for the first A to Z.
Anyways.. the top ended with a harmonic and this may be the start of a month of consolidation.
The entry of my previous chart could mean wave 3 is shortest and it cannot be with this count so this is my next trade.
B of the upcomming ABC must be a correction of more then 3 waves so i am tought.
The upcomming A is impulsive so a tight stop can be used.
If that's the case then shouldn't it be safer to let the wave A go and when b wave forms, catch the ride on c wave up? Trying to catch a wave seems too risky, imo. Just a thought.
  • #3,673
  • Jan 9, 2011 10:42am Jan 9, 2011 10:42am
Quoting pkimnyc
If that's the case then shouldn't it be safer to let the wave A go and when b wave forms, catch the ride on c wave up? Trying to catch a wave seems too risky, imo. Just a thought.
Becouse B cannot be a 3 wave correction this will look very complex.
It would be difficult to identify the start of C.
If you want to be safe wait for a bounce and finish of wave 2. then put a buy order above wave 1 since wave 3 should be the longest.
But I just started learning elliot, this is just my rookie oppinion.
  • #3,674
  • Jan 9, 2011 10:51am Jan 9, 2011 10:51am
Quoting longshot_nl
Becouse B cannot be a 3 wave correction this will look very complex.
Let's see what the market does when we get there.
Gl with your trade.
  • #3,675
  • Jan 9, 2011 11:19am Jan 9, 2011 11:19am
I cant get a count on CHF/JPY..
Does someone have one?
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  • #3,676
  • Jan 9, 2011 11:41am Jan 9, 2011 11:41am
like to wish all happy new year

thanks for this thread

jay
  • #3,677
  • Edited 6:56pm Jan 9, 2011 6:19pm | Edited 6:56pm
my GA count.

or is 5 of 5 already met?
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  • #3,678
  • Jan 9, 2011 9:51pm Jan 9, 2011 9:51pm
Quoting pkimnyc
Not necessary imo, the important thing is more often than not, whatever the wave pattern being predicted changes accord to market condition. It helps you if you keep in mind where the price is in the context of bigger wave.
Ew can be helpful if you don't over complicate things. It will give you a general idea where price turning point might be. It is important to keep in mind whether you want to be expert in wave counting or you wanna be able to take trades based on what you see.
Just keep the basic rules and use your trading skills. You will...
Thanks for the comment and explain.
Take my view with a pinch of salt!
  • #3,679
  • Jan 10, 2011 2:43pm Jan 10, 2011 2:43pm
sorry guys...

i just recover from my bad fever..again..

today is cute 11 1 11
  • #3,680
  • Jan 10, 2011 3:11pm Jan 10, 2011 3:11pm
euro
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