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Elliott Wave Trading

  • #5,421
  • May 9, 2012 3:22pm May 9, 2012 3:22pm
sorry, updated chart down -11 pips.
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  • #5,422
  • May 9, 2012 3:42pm May 9, 2012 3:42pm
Quoting Ian Copsey
Not impossible - I prefer 1.2953-79 but could accept 1.2911.

The following article shows how the U.S. Indices and Dollar are converging to see a major reversal over the coming months: http://harmonicelliottwave.blogspot....-reversal.html
Good precision for Price!
Markets are not Random, they are designed!
  • #5,423
  • May 26, 2012 8:18am May 26, 2012 8:18am
Quoting knightpips
is it over?

C:UserssamiDocumentsforcasting2012-05-06_1935.png


No!!!!

Something went wrong LOL



Hi Knightpips,

how are things going?
  • #5,424
  • May 30, 2012 6:44am May 30, 2012 6:44am
my intrepertation..comment welcome..
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stock , commodity , bond , forex
  • #5,425
  • May 30, 2012 2:27pm May 30, 2012 2:27pm
im new to elliott wave. i was trading with the trend for the past few days. wish i just left one trade and let it run. waiting on a free fall. not sure why. how do you determine the end of a wave 5 correction.
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  • #5,426
  • Jun 21, 2012 5:54am Jun 21, 2012 5:54am
Video Explanation
Inserted Video


Recommended Elliott Indicator:
http://elliottindicator.com

Good luck!
  • #5,427
  • Jun 23, 2012 2:07pm Jun 23, 2012 2:07pm
Looking to buy in the $15 - $20 area.
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I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #5,428
  • Jun 24, 2012 4:46am Jun 24, 2012 4:46am
Quoting sdcasper
im new to elliott wave. i was trading with the trend for the past few days. wish i just left one trade and let it run. waiting on a free fall. not sure why. how do you determine the end of a wave 5 correction.
Hi sdcasper,

a little helpful nudge if you will.....

Looking at your chart I would conclude that your count is wrong, why? because your wave 4 low is ovelaping with your wave 1 high. So if it is forming a 5 wave then more likely what you have as w5 is actually w3.

Why are you trying to trade the turn? that is where you will get burnt everytimne you get it wrong which will be a lot because turning points are also consolidation zones normally.

Instead try to trade the higher probability setups, what do I mean? If you think you have a 5 wave pattern forming try and identify the turn after wave 4 then trade for your projection of wave 5. this is trading with the trend, after a fractal and far less likely to go wrong. Stop just below wave 4.

You can do the same with an ABC correction look for what you think is B and trade for wave C target.

I have put my count onto the same chart that you were using and as you can see the pattern that formed created a very clear and simple 5 waves where wave 4 low was above wave 1 high.

It also shows you that projecting a target for wave 5 can be quite accurate the confluence of target lines between 0.9733 and 0.9751 would have been the most likely target. I could have got in 0.9689 after a confirmed low (potential wave 4 complete) and targeted 50-60 pips with a stop below 4 of around 27 pips. and trading in the trend direction.

hope it helps

regards

Max
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  • #5,429
  • Jul 9, 2012 10:23am Jul 9, 2012 10:23am
hello,
can anyone help me in finding out the current wave in eurjpy pair? i am really finding hard to find out in which wave the pair is travelling now.please help me .
  • #5,430
  • Jul 10, 2012 1:50am Jul 10, 2012 1:50am
Quoting zoomfire
hello,
can anyone help me in finding out the current wave in eurjpy pair? i am really finding hard to find out in which wave the pair is travelling now.please help me .

yes it is a mess....

on the monthly and weekly it it technically still in correction however it has corrected so far that > 80% that the chances are it is no longer a correction.

Probably easiest to focus ont he lastest moves as there are more tradeable anyway.

So looking at the daily it made a new low 1st June that confirms it is not a correction of the move up from 97.15 to 111.42 so lets treat the current move down as a simple 5 wave pattern and you can see from the chart it appears that we could be on a wave 5. but within that we are on the 3 wave of wave 5.

I don't have the time to move down the timeframes for you but hope this helps
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  • #5,431
  • Jul 10, 2012 2:16am Jul 10, 2012 2:16am
Quoting MaxDoom
yes it is a mess....

on the monthly and weekly it it technically still in correction however it has corrected so far that > 80% that the chances are it is no longer a correction.

Probably easiest to focus ont he lastest moves as there are more tradeable anyway.

So looking at the daily it made a new low 1st June that confirms it is not a correction of the move up from 97.15 to 111.42 so lets treat the current move down as a simple 5 wave pattern and you can see from the chart it appears that we could be on a wave 5. but within that we are on...

Max if I am not wrong wave 3 is the largest and according to elliott wave theory wave 4 should not overlap wave 1. but i am not sure abt how wave 5 develops or when it is technically over?
  • #5,432
  • Jul 11, 2012 2:07am Jul 11, 2012 2:07am
Quoting Nachiket
Max if I am not wrong wave 3 is the largest and according to elliott wave theory wave 4 should not overlap wave 1. but i am not sure abt how wave 5 develops or when it is technically over?

Hello Nachiket how are you keeping?

You are right about about waves 1,3 and 4.

Wave 5 is the odd one in that it can take many different styles.
Normal rule is that it should at least reach the same price as the end of wave 3 but this does not always happen especially if wave 3 has been extremely long and rapid.
  • #5,433
  • Oct 3, 2012 4:24am Oct 3, 2012 4:24am
The rest of the forecast from two weeks ago should now develop...

http://harmonicelliottwave.blogspot....or-eurusd.html
No I haven't got the wave structure wrong! I've corrected it!
  • #5,434
  • Oct 4, 2012 2:07pm Oct 4, 2012 2:07pm
Good work, Ian. My harmonic wave analysis indicates a possible topside target for EURUSD at about 1.3300. I see that you called the bottom of the wave iv correction quite accurately. Congratulations. I managed to do the same.

Now we seem to be resuming a fairly forceful upwards drive to either a double top or a new high somewhere higher than the previous high of 1.3170 on September 17.
  • #5,435
  • Oct 4, 2012 3:27pm Oct 4, 2012 3:27pm
Quoting IonaFX
Good work, Ian. My harmonic wave analysis indicates a possible topside target for EURUSD at about 1.3300. I see that you called the bottom of the wave iv correction quite accurately. Congratulations. I managed to do the same.

Now we seem to be resuming a fairly forceful upwards drive to either a double top or a new high somewhere higher than the previous high of 1.3170 on September 17.
Excellent. The target you mention is around where I have been considering. The Wave (a) of Wave (v) should be above 1.3172 and I suspect a deep-ish Wave (b) of Wave (v).
No I haven't got the wave structure wrong! I've corrected it!
  • #5,436
  • Oct 10, 2012 10:51pm Oct 10, 2012 10:51pm
Maybe?

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  • #5,437
  • Oct 10, 2012 11:58pm Oct 10, 2012 11:58pm
Quoting knightpips
Maybe?

Attachment
What on earth is that count?
A 1 pip gain is better than a 1 pip loss.
  • #5,438
  • Oct 11, 2012 12:09am Oct 11, 2012 12:09am
Quoting aeternum
What on earth is that count?

It is the NeoWave.........
  • #5,439
  • Oct 11, 2012 2:32pm Oct 11, 2012 2:32pm
Quoting Ian Copsey
Excellent. The target you mention is around where I have been considering. The Wave (a) of Wave (v) should be above 1.3172 and I suspect a deep-ish Wave (b) of Wave (v).
I am now short EURUSD with a target at 1.2785, which is 1.65 pips lower than the recent high today (Thursday, October 11 ) at 1.2950.

My prediction, based on my wave harmonic model (which is of course always subject to revision as the pattern unfolds, but gives me trading opportunities nonetheless), is that the price will bounce off of about 1.2785 and then rise about 650 pips to 1.3450.
  • #5,440
  • Oct 12, 2012 2:18am Oct 12, 2012 2:18am
Quoting IonaFX
I am now short EURUSD with a target at 1.2785, which is 1.65 pips lower than the recent high today (Thursday, October 11 ) at 1.2950.

My prediction, based on my wave harmonic model (which is of course always subject to revision as the pattern unfolds, but gives me trading opportunities nonetheless), is that the price will bounce off of about 1.2785 and then rise about 650 pips to 1.3450.
I think you'll find we may have seen the low at 1.2803 and we'll get a lot higher than 1.3450... There has been a subtle shift in the structure that voids the 1.3350-1.3450 target.
No I haven't got the wave structure wrong! I've corrected it!
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