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Elliott Wave Trading

  • #5,661
  • Mar 26, 2013 11:28am Mar 26, 2013 11:28am
this my analysis for GBPUSD
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  • #5,662
  • Mar 26, 2013 9:49pm Mar 26, 2013 9:49pm
DAILY ANALYSIS FOR GBPUSD

GBPUSD remains in a corrective structure:
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No I haven't got the wave structure wrong! I've corrected it!
  • #5,663
  • Mar 26, 2013 9:50pm Mar 26, 2013 9:50pm
Quoting pepesan
Here is another chart , I made some pips already
Attachment
But your Wave 5 was nothing like a 5-wave move!
No I haven't got the wave structure wrong! I've corrected it!
  • #5,664
  • Mar 27, 2013 8:05am Mar 27, 2013 8:05am
Quoting Ian Copsey
But your Wave 5 was nothing like a 5-wave move!
If I calculated like this, is it true ? please advice
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I am not expert in EW, just share the best I can
  • #5,665
  • Mar 29, 2013 2:02am Mar 29, 2013 2:02am
Quoting pepesan
If I calculated like this, is it true ? please advice
Attachment

I am not expert in EW, just share the best I can
Sorry, but no way...
I do admit this is a difficult example because of the initial sharp ups and downs that really hide the internal development. In EW maybe people get away with it but it's just not logical and always retrospective. As a very basic idea, Wave 3 is almost never shorter than 176.4%... Harmonic Elliott Wave has more structure and discipline and avoids crazy, whacky and at times fantasy counts. You must always consider what move is being corrected (and in this case it's not from the 1.6380 high...) and judge what sort of correction is relevant. We've almost completed the correction but it's certainly not in a zigzag.
No I haven't got the wave structure wrong! I've corrected it!
  • #5,666
  • Mar 29, 2013 2:03am Mar 29, 2013 2:03am
A forecasting methodology such as Harmonic Elliott Wave is often considered with extreme caution, many critics pointing out that you never know when it will be right or wrong so that trading using it holds greater risks. That approach is naive as it supposes that a user will only use that single technique and not an integrated methodology involving several more supporting tools. However, what is also not understood is how Harmonic Elliott Wave has a stronger and more disciplined structure that can, in many instances, identify when things are breaking down. This video discusses a few of these elements and why a growing number of traders are finding that Harmonic Elliott Wave is providing a missing element to their own trading strategy.

BREAK LEVELS AND SUPPORTING A STRATEGY
No I haven't got the wave structure wrong! I've corrected it!
  • #5,667
  • Edited 4:08am Mar 29, 2013 3:54am | Edited 4:08am
Hello all,
I studied, Elliott wave theory, for about 3 years and tried to apply it on a single currency pair EUR-USD. Currently I think this is evolution so far, starting on July 24, 2012, but I would love if someone with more experience than me and would express his opinion.
Thanks for everything!
Attached Image (click to enlarge)
Click to Enlarge Name: Evolutie Eur-Usd - 24.07.2012-29.03.2013.png Size: 52 KB
  • #5,668
  • Mar 30, 2013 8:37am Mar 30, 2013 8:37am
Quoting Ian Copsey
Sorry, but no way...
I do admit this is a difficult example because of the initial sharp ups and downs that really hide the internal development. In EW maybe people get away with it but it's just not logical and always retrospective. As a very basic idea, Wave 3 is almost never shorter than 176.4%... Harmonic Elliott Wave has more structure and discipline and avoids crazy, whacky and at times fantasy counts. You must always consider what move is being corrected (and in this case it's not from the 1.6380 high...) and judge what sort of correction...
thanks for your feedback, I will keep in mind, it's help a lot for my EW practice
  • #5,669
  • Mar 30, 2013 8:41am Mar 30, 2013 8:41am
Quoting ovidiu_gnt
Hello all,
I studied, Elliott wave theory, for about 3 years and tried to apply it on a single currency pair EUR-USD. Currently I think this is evolution so far, starting on July 24, 2012, but I would love if someone with more experience than me and would express his opinion.
Thanks for everything!Attachment
From an EW perspective maybe it's acceptable, but there can be so many methods of counting that many other counts could be claimed. I look at that Wave 4 and go "how & why?" Don't worry, You're not doing anything wrong because so many others create these counts but when do you know that it's right or wrong? It makes EW retrospective and frankly of little use as you'll never have any real idea of where an impulsive wave will end.

There has to be greater accountability to how fractals work, how they are related, how they generate common targets and a greater discipline to controlling counts. Until that point you'll be running a marathon and find you have never left the starting line...
No I haven't got the wave structure wrong! I've corrected it!
  • #5,670
  • Apr 1, 2013 2:20am Apr 1, 2013 2:20am
Quoting Ian Copsey
From an EW perspective maybe it's acceptable, but there can be so many methods of counting that many other counts could be claimed. I look at that Wave 4 and go "how & why?" Don't worry, You're not doing anything wrong because so many others create these counts but when do you know that it's right or wrong? It makes EW retrospective and frankly of little use as you'll never have any real idea of where an impulsive wave will end. There has to be greater accountability to how fractals work, how they are related, how they generate common targets...
I am aware that I have a lot of work to be able to understand the application of this method, experience comes with years of practice. The wave 4 , is a limited expanding triangle ( in my opinion ) .
Thanks for the advice !
  • #5,671
  • Apr 1, 2013 4:09am Apr 1, 2013 4:09am
The 5th wave can easily be counted as an ending diagonal. So, this could be an impulse, no doubt.

R

Quoting Ian Copsey
Sorry, but no way... I do admit this is a difficult example because of the initial sharp ups and downs that really hide the internal development. In EW maybe people get away with it but it's just not logical and always retrospective. As a very basic idea, Wave 3 is almost never shorter than 176.4%... Harmonic Elliott Wave has more structure and discipline and avoids crazy, whacky and at times fantasy counts. You must always consider what move is being corrected (and in this case it's not from the 1.6380 high...) and judge what sort of correction...
  • #5,672
  • Apr 1, 2013 7:18am Apr 1, 2013 7:18am
Quoting Rocroy
The 5th wave can easily be counted as an ending diagonal. So, this could be an impulse, no doubt. R
In traditional EW anything can be labeled anything... Mostly there's not much idea of what the wave is until 3-6 months later.
No I haven't got the wave structure wrong! I've corrected it!
  • #5,673
  • Apr 1, 2013 8:05am Apr 1, 2013 8:05am
C'mon, Ian, are you fair now? ;-)

I do not know your approach in detail, but I would be very surprised, if there would be only one way of labeling when using your system.

R

Quoting Ian Copsey
In traditional EW anything can be labeled anything... Mostly there's not much idea of what the wave is until 3-6 months later.
  • #5,674
  • Apr 1, 2013 9:34am Apr 1, 2013 9:34am
how about this mates ?
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  • #5,675
  • Apr 1, 2013 11:14am Apr 1, 2013 11:14am
Quoting pepesan
how about this mates ? {image}
no!
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  • #5,676
  • Apr 1, 2013 4:10pm Apr 1, 2013 4:10pm
Quoting Rocroy
C'mon, Ian, are you fair now? ;-) I do not know your approach in detail, but I would be very surprised, if there would be only one way of labeling when using your system. R
Yes, there can be ambiguities ... but... the main focus is on recognising waves through ratios. It provides greater discipline and avoids the silliness of extended waves, failed fifths and 180% expansions in irregulars and so on. (expanded flats rarely get beyond 38.2% - in FX extremely rarely and is normally 14.6%-23.6%.) Alternation takes on a much stronger role because there is a relationship between the Wave (ii) and Wave (iv). It actually provides a much stronger method of identifying wave ending with much greater accuracy by understanding the relationship between the wave degrees. The key is identifying common projection targets across the wave degrees.
No I haven't got the wave structure wrong! I've corrected it!
  • #5,677
  • Apr 1, 2013 11:28pm Apr 1, 2013 11:28pm
That is exactly what I do using "traditional" ew.

All the best,
R

Quoting Ian Copsey
Yes, there can be ambiguities ... but... the main focus is on recognising waves through ratios. It provides greater discipline and avoids the silliness of extended waves, failed fifths and 180% expansions in irregulars and so on. (expanded flats rarely get beyond 38.2% - in FX extremely rarely and is normally 14.6%-23.6%.) Alternation takes on a much stronger role because there is a relationship between the Wave (ii) and Wave (iv). It actually provides a much stronger method of identifying wave ending with much greater accuracy by understanding...
  • #5,678
  • Edited 2:58am Apr 2, 2013 1:50am | Edited 2:58am
Quoting Rocroy
That is exactly what I do using "traditional" ew. All the best, R
As you wish but I have never seen anyone forecast to the point effectively with traditional EW.

I am used to people thinking "oh it's just another geezer trying to make up another form of Elliott Wave." Actually, I used to think that. However, just take a look at some of the videos on the blog and you'll see how the basics work. It really is a very, very simple re-organisation of the impulsive structure and a different method of applying ratios. Before I worked all this out I could never forecast equity markets. My first call in July 2010 in the DOW has been exactly right. In the Wave (iv) drop into the October 2011 low I called a low in the S&P at 1,076 a month in advance.

You don't have to buy my reports - just buy the book (from which I get sweet FA) and you'll be able to apply the changes.
No I haven't got the wave structure wrong! I've corrected it!
  • #5,679
  • Apr 2, 2013 1:59am Apr 2, 2013 1:59am
Quoting goshko147
no! {image}
I don't see why not?!
  • #5,680
  • Apr 2, 2013 4:02am Apr 2, 2013 4:02am
Thank you, Ian, but there is no need for that.

Regards, R

Quoting Ian Copsey
As you wish but I have never seen anyone forecast to the point effectively with traditional EW. I am used to people thinking "oh it's just another geezer trying to make up another form of Elliott Wave." Actually, I used to think that. However, just take a look at some of the videos on the blog and you'll see how the basics work. It really is a very, very simple re-organisation of the impulsive structure and a different method of applying ratios. Before I worked all this out I could never forecast equity markets. My first call in July 2010 in the...
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