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Is this a correct Elliot wave evaluation?

  • #1
  • First Post: Apr 17, 2006 4:04pm Apr 17, 2006 4:04pm
I am trying to get a hold on Elliott waves. I think hands on is the way for me to go, so I took a screen shot of an analysis I did on a 240M chart of the EUR/USD and am looking for some feedback on it. Thanks in advance.
Attached Image
  • #2
  • Apr 17, 2006 10:19pm Apr 17, 2006 10:19pm
Hmmm.... basically you've got the right idea

http://img160.imageshack.us/img160/5601/8601fo.gif
  • #3
  • Apr 17, 2006 10:39pm Apr 17, 2006 10:39pm
So Liquid4x, What Gallery Is your work being shown at?



Quoting Liquid4x
Hmmm.... basically you've got the right idea

http://img160.imageshack.us/img160/5601/8601fo.gif
  • #4
  • Apr 17, 2006 10:55pm Apr 17, 2006 10:55pm
haha... very funny smjones... lol
  • #5
  • Apr 17, 2006 11:08pm Apr 17, 2006 11:08pm
OMG that meter was funny, but offensive, but funny.

Quoting Liquid4x
haha... very funny smjones... lol
  • #6
  • Apr 17, 2006 11:11pm Apr 17, 2006 11:11pm
Do you use Elliot wave to determine trading opportunities? Or do you use it as a sign post for the past and possible direction in the future?

I have never been able to get a handle on Elliot Theory. It just seems to subjective....

Thanks SMJ


Quoting jmichaelrush
I am trying to get a hold on Elliott waves. I think hands on is the way for me to go, so I took a screen shot of an analysis I did on a 240M chart of the EUR/USD and am looking for some feedback on it. Thanks in advance.
  • #7
  • Apr 17, 2006 11:29pm Apr 17, 2006 11:29pm
I have one other question. I am not much of an Elliot wave theorist, but isn't one of the main rules that wave 4 cannot retrace into wave 1?

SMJ
  • #8
  • Apr 17, 2006 11:37pm Apr 17, 2006 11:37pm
The 5th wave looks like it's longer than your 3rd wave... making it invalid.
  • #9
  • Apr 17, 2006 11:59pm Apr 17, 2006 11:59pm
You are right smjones.
This rule is true in non-overlapping patterns...
(overlapping patterns are corrective)
  • #10
  • Apr 18, 2006 6:31am Apr 18, 2006 6:31am
I thought the rule there was that wave 3 cannot be the shortest wave. It is ok for it to be shorter that wave 5 as long as it is longer than wave 1.

But again, I do not use Elliot wave...

SMJ


Quoting nitman
The 5th wave looks like it's longer than your 3rd wave... making it invalid.
  • #11
  • Last Post: Apr 18, 2006 10:52pm Apr 18, 2006 10:52pm
Just when I thought I was starting to understand them a little bit, the market throws a huge curveball.

In my previous picture I show (1. in the following picture) as being wave five(wave five is usually the most complex, right?). Well, if that is correct, then what is (2.)?
Attached Image
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