Elliott Wave Trading

Still bearish move in short period



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candle secret

And this my weekly count




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unusual pattern

Hello !
Since the wave corrective talking about in the previous post for Eur-Usd currency pair, I think has been completed, return with a technical analysis, which hopefully clear up what the last months. Downtrend movement was one not devoid of emotions, as we faced with an irregular flat. Wave b retreated wave a , by over 100%, but did not reach 138.2%, which favored the descent wave C to 138.2% of wave b. This last wave is in my opinion a terminal impulse with extended wave 3 (wave 2 withdraw more than 61.8% wave 1 , Wave 3 is the highest wave, Wave 4 withdraws less than 38.2 % wave 3 ). If I'm right about it likely that we will see during today, or tomorrow at the latest. Basically after a terminal impulse follows a rapid movement in the opposite direction, which has not yet started but may occur anytime. Evolution is a rising future that will surpass 1.3242 with a tendency to reach 1.3400.
So I wish you the pips gain!

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high low trading

making wave 4 ?


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trend line system

Elliott Wave Intraday Analysis for AUD/JPY 21-May-2013 11:56 IST

Aud/Jpy is in final stage of it’s triangle formation. Once pattern is complete, a person can expect a sharp thrust off towards it’s initial target of previous wave 4. For more details of target, kindly visit my previous posts.

Recommendation: short can be build up slowly here

100.85 – ⅓ position
101.14 – ⅓ position
99.80 – Sell Stop ⅓ position

Stop Loss @ 102.30, Target @ 97 ½ and @ 96.20 ½

That's what I like to see... a 3-wave Wave 1!

almost complete

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MA principles

Hello,

Apparently, the version described above for the EUR / USD pair is not valid. So I not only have to admit that I was wrong. The descent was not completed, so we have to wait a bit until the back. From terminal impulse, wave c turned into wave what looks like a normal impulse. Perhaps at this point we are in the wave 4, which we will see what will be, for now I think the wave-a is completed (in terms of time is less than the wave 2). In these conditions, numbering waves change according to the analysis attached. The following analysis I will post after completing wave c.
Good luck!

You may wish to review your Wave 1. The internal Wave 1 and Wave 4 overlap...

This is not overlap, wave 1 has minimum 1.2934 and wave 4 is the maximum of 1.2929 - so we have 5 pips difference . We have the wave .3 that wave 1 extended impulse (wave i is the biggest wave, wave ii retrace less than 38.2% wave i , wave iii is lower than wave i , wave iv is lesser price and time than wave ii, wave v is the smallest wave and the impulse is retrace in the wave ii price ).

I'm referring to the Wave 1 you have labeled from the 1.3242 high to 1.3032. Look at the 5 waves within that.

Dear Friends
Please kindly take a look into this thread http://www.forexfactory.com/showthread.php?t=429019 there is a debate about whether elliott waves work or not,Please share your ideas and opinions

Wave-.1 looks like , in my opinion .

Ha! Ok, yes, that's allowed in traditional EW. It's very flexible to allow as much as you want! That's why I gave it up...

I think GBPUSD already have complete wave 5, Now I am waiting for buy trading signal, open trading position and stop loss level at below the previous low



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fractals system

Aussie still in bearish move

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wolfe wave system

Hi Pindang

Now that Cable has broken the prior low I hope you don't mind if I offer some guidance if I may. I'd like to think it will help and intend it in that spirit.

First of all you had a 3-wave Wave 1 so something had to be wrong from that basis. To be honest I do think it was Wave 1 but then I work with 3-wave moves.
If you want to work with Elliott's strict 5-wave structure then you could have considered the start as a (1), (2), 1, 2...

The other problem is that in a traditional 5-wave move there is nearly always (actually I think always) an extension. Therefore it's virtually impossible to know when a wave will end. You can see corrections and it's tempting to label them but in Elliott's structure even Prechter can't manage to get it right. I used to do it myself - "oh, this will be the fifth..." and then it goes on...

One thing I note about many people offering counts is that they provide a chart but do not reference it to the higher wave degree. What does the higher wave degree suggest? That should also be an important factor.

Again, in my method there are always ratio relationships between the wave degrees. Many have common targets - so a Wave 5 of Wave C will have a Wave C projection that must match with the Wave 5 target. (Again, for me) if that Wave C is Wave C of Wave III then it'll have a Wave III target also - so three levels of wave degrees generating the same area for a wave ending... (In my version Wave 3 will never be less than 176.4%)

For your weekly EURUSD you have a mammoth Wave 4. I think this is a case of referencing the higher wave degree.

I can say that (in my version) there is a ratio relationship between Wave 2 and Wave 4 that makes Wave 4 reasonably straight forward to judge. It's not there in Elliott's structure.

I have found that normally Wave 4 will be no more than 58.6% and normally only when Wave 2 has been quite shallow. I have (on rare occasions) seen a bit higher but will only occur when Wave 2 is very, very shallow. (Again I'm talking about a 3-wave methodology.) As an example, I had earlier thought that GBPUSD would finish its bullish correction much lower based on the normal relationship between 2 & 4. In fact, it ended up just 15 points short of the 58.6% retracement (which really annoyed me! I think it was probably down to the fact that we're in a larger weekly consolidation still and waves can be more volatile in consolidations.) Therefore as a reference we are in a Wave 5 and in my reckoning we're already moving lower in the Wave c of Wave 5.

I hope this helps in providing some thoughts for you to work with. It's definitely harder with Elliott's impulsive structure but I have seen some that do reasonably well with it.

Kind regards

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scalping system

Guys/Gal... perfect storm is coming .. long UCHF

Daily chart show Wave 4 completed and start Wave 5 up trend

H4 chart shpw Wave 2 ended and start wave 3... both are showed posible uptrend