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Elliott wave outlook

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  • #8,221
  • Mar 4, 2013 9:00pm Mar 4, 2013 9:00pm
Quoting Chemist001
Hi guys! How do you set up your Elliot Wave Oscillator (EWO)? or... Where can I get/download it? Thanks!
MT4 comes with the AO technical indicators and (EWO ) the same, you can use AO.
  • #8,222
  • Mar 5, 2013 2:04am Mar 5, 2013 2:04am
Quoting Chemist001
Hi guys! How do you set up your Elliot Wave Oscillator (EWO)? or... Where can I get/download it? Thanks!
I set mine up in 3 easy steps:

1. study Elliott Wave Principle

2. practice

3. learn from my friends

Rinse & repeat.

Only joking, Chemist. I am not aware of anyone here who really uses an EW oscillator. EW is a principle of market behaviour and analysis based on Fibonacci ratios in price action. It's a skill you have to learn. If you look through the pages of this thread you will see just how effective EW is for anticipating price movement and targets. If you're interested in learning, PM Luis Carlos for more details.
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  • #8,223
  • Mar 5, 2013 2:10am Mar 5, 2013 2:10am
Quoting venzen
I set mine up in 3 easy steps:

1. study Elliott Wave Principle

2. practice

3. learn from my friends

Rinse & repeat.

Only joking, Chemist. I am not aware of anyone here who really uses an EW oscillator. EW is a principle of market behaviour and analysis based on Fibonacci ratios in price action. It's a skill you have to learn. If you look through the pages of this thread you will see just how effective EW is for anticipating price movement and targets. If you're interested in learning, PM Luis Carlos for more details.

good answer!
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  • #8,224
  • Mar 5, 2013 2:24am Mar 5, 2013 2:24am
Quoting The Cableguy
good answer!
good to smile often

Seems the tide is turning to risk-on again: DJI and S&P rising to new highs, USD index about to turn down, central banks escalating their shenanigans, etc, etc. I would expect that soon we may have a return of uptrends in the EU, EJ, GU, AU, Gold, etc. For this to fit our wavecounts we will first need to see completion of downtrends in the same instruments... I am feeling apprehensive about the prospect of more volatility and swings - my style (or is that habit?) is to have positions open for several days and this won't work if there are reversals and swings all over the place.

Guess I better change my style to "grab the money and run!"


edit: how's the new office btw?
cryptocurrency everytime
  • #8,225
  • Mar 5, 2013 2:47am Mar 5, 2013 2:47am
Ha ha, an absolute ****hole right now... but hopefully get set up again before the end of the week.
I did have a quick look at the Dow chart earlier and got an impression it might just have printed a flat B wave.
If today becomes a down day later, we might have one more low for Euro too.

I have to say, i'm in agreeance though, i think the Dow had just made a 5w long prior (hence my view of corrective B), so might be good to go on everything again soon. To be fair, without my set up, i'm a bit lost, so probably should go back to my other job as teaboy for the tradesmen!
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  • #8,226
  • Mar 5, 2013 3:24am Mar 5, 2013 3:24am
Attached File(s)
File Type: mq4 Elliott Wave Oscillator34.mq4   2 KB | 478 downloads
  • #8,227
  • Mar 5, 2013 5:05am Mar 5, 2013 5:05am
Hi guys
is there still any hopes ,of this eu 1.29 target,anybody with a update count chart on eu.
Regards.
Cross
  • #8,228
  • Mar 5, 2013 5:57am Mar 5, 2013 5:57am
oooops, i've been neglecting this thread this morning!

Here's some charts from earlier;

http://i1168.photobucket.com/albums/...5m05-03-13.png

Was looking for a reaction off of one of the blue circled areas as proof of it likely being a C wave (corrective).

Also, the top Baseline should end a likely C wave;

http://i1168.photobucket.com/albums/...1h05-03-13.png

and the latest combines both!

http://i1168.photobucket.com/albums/...m05-03-13a.png
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8,229
  • Mar 5, 2013 6:01am Mar 5, 2013 6:01am
Hi cg
thanx for the chart update.
Cross
  • #8,230
  • Mar 5, 2013 6:06am Mar 5, 2013 6:06am
Quoting The Cableguy
oooops, i've been neglecting this thread this morning!

Here's some charts from earlier;
Wait, or you will be slaughtered!
  • #8,231
  • Mar 5, 2013 6:44am Mar 5, 2013 6:44am
Quoting venzen
I set mine up in 3 easy steps:

1. study Elliott Wave Principle

2. practice

3. learn from my friends

Rinse & repeat.

Only joking, Chemist. I am not aware of anyone here who really uses an EW oscillator. EW is a principle of market behaviour and analysis based on Fibonacci ratios in price action. It's a skill you have to learn. If you look through the pages of this thread you will see just how effective EW is for anticipating price movement and targets. If you're interested in learning, PM Luis Carlos for more details.
Thanks venzen! What you said is true. I just noticed the EWO indicator in Ermiler's post in previous page.
  • #8,232
  • Mar 5, 2013 6:51am Mar 5, 2013 6:51am
Hi CG : Thanks for sharing the chart. I wake up this morning and when I looked at the EU, it was a little after the tocuh in 1,3075, and I thought, maybe this is the end of 4th wave (and not 1,3041). That's what you are seeing at it. I have this doubt. You painted i and ii at this (now) 5th wave, but it has to be in 5 waves too or in 3 ? Thanks in advance
  • #8,233
  • Mar 5, 2013 7:26am Mar 5, 2013 7:26am
Quoting StarTracker
Hi CG : Thanks for sharing the chart. I wake up this morning and when I looked at the EU, it was a little after the tocuh in 1,3075, and I thought, maybe this is the end of 4th wave (and not 1,3041). That's what you are seeing at it. I have this doubt. You painted i and ii at this (now) 5th wave, but it has to be in 5 waves too or in 3 ? Thanks in advance


Ummmm, you've lost me a little bit there ST... Of course there is nothing for certain that i'm right yet, but my thoughts are that the move up was corrective (ABC), both A&B in this instance were in minor 3w (abc), making a 'flat' correction, (3-3-5), then wave C (which is always in 5w) is 123.6% of wave A (this is very common for a wave C also), add to that the rejection of the base channel top TL and it adds evidence to the count. I have minor 'i'&'ii' of a fresh 5w move short, so if correct, later on we will hit the 3rd wave and drop like a stone... if not, our stop is above the earlier high and thus right now a very favourable risk:reward backed up by some sensible TA... if it doesn't work, we swear at the computer for a few minutes, go and make a cuppa and go back to step 1!
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  • #8,234
  • Mar 5, 2013 9:00am Mar 5, 2013 9:00am
Good heavens, the stock mania is so intense! Indices are thundering to new highs all over the place. This has gotta end badly.

edit: looks like EU has stepped in the elevator - now which button is it going to press?
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  • #8,235
  • Mar 5, 2013 9:34am Mar 5, 2013 9:34am
Hi cableguy.
Thanx,thanx,thanx, spot on dropped like a stone,awesome.
Cross
  • #8,236
  • Mar 5, 2013 9:36am Mar 5, 2013 9:36am
Quoting crosswind
Hi cableguy.
Thanx,thanx,thanx, spot on dropped like a stone,awesome.
Cross
More than welcome!
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  • #8,237
  • Mar 5, 2013 9:47am Mar 5, 2013 9:47am
I had a couple scalps in my triangle yesterday, but lost on my E wave because it didn't turn out to be a triangle after all but just a larger ABC waves. I had a tight stop on it so only lost 15 pips. Today I am looking at this which is similar to CableG charts. Good looking charts by the way...Looking for 5 waves down to finish of wave 5. Target .2946
Attached Image (click to enlarge)
Click to Enlarge Name: 4hchart.jpg Size: 250 KB
  • #8,238
  • Mar 5, 2013 9:52am Mar 5, 2013 9:52am
Thanks a lot, CG. I'm not interested in only follow your charts, but also in learning. And you really made a great job on explaining your thoughts, as usual. Thank you very much !
  • #8,239
  • Mar 5, 2013 9:59am Mar 5, 2013 9:59am
Quoting StarTracker
Thanks a lot, CG. I'm not interested in only follow your charts, but also in learning. And you really made a great job on explaining your thoughts, as usual. Thank you very much !

No prob's, welcome!

regards CG
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8,240
  • Edited 10:42am Mar 5, 2013 10:21am | Edited 10:42am
EU

sorry no chart, but some wave number crunching. We've seen a 5w down from 13076 to 13016. If EU is indeed forming an impulse to the downside, here are some common wave relationship targets that may or may not be respected:

wave 2 zigzag retraces .618: 13053
wave 3 is 1.618 of 1: 12955.92 ( 97.08 points from 13053 )
wave 4 (complex) retraces .382 of 3: 12993.0 ( 37.08 points from 12955.92 )
if wave 5 = wave 1: 12933.0
wave 5 if wave 4 divides the entire decline into fib sections: 12941.7

My alternative count is that we are currently in a zigzag wave to the downside which may stop at 13000. Either counts imply that there could be strong movement to the upside once the downside targets are achieved. These are 12941 for my preferred count and 13000 for my alt count.
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