Elliott Wave Trading

Updated my HEW 2H Chart:
[5 waves up from [b?] to complete -iii- blue]
Cheers,
U2

Deep Wave b of Wave (iii) YouTube

Looks like the a/b correction for wave (iii) is complete [~$1313].
[refer HEW Structure pic.]
Now 5 waves up [impulsive] to complete wave iii.
Then wave iv correction followed by wave v to the top.
Next I will add projections.
Cheers,
U2

Possible Scenario for EURO Futures

Nice to see everyone trying HEW. I'll just point out that Wave (iii) is rarely below 176.4% and certainly not below 166.7%... The other critically important issue is how this would fit into the larger wave structure.

It's not the count I have - but I'm not always right so we'll see how this progresses.

please guys i am still looking for someone to help me partial time at elliottwave forecast. Needs to know spanish, english and ew basis, that 3 specific things.

ty

Hi LC

I would love to help but I need a crash course in spanish

Thanks Ian for the comments..... Actually current movement after the test of 1.30 resistance zone looks in corrective structure. There is also a wedge shape exist on the price development. That's why labelled based of ending diagonal pattern. But on currencies it is not always easy to separate impulsive movements from corrective movements.
Yes it is sure we need to look wave relationships and my count was some lazy work(Because Just use HEW or in general EW as a confirmation tool) Anyway let me ask even in ending diagonal or in general wedge shape price development fibo ratio relationships should still be considered? Or in general what is the situation of ending diagonal in HEW....

Anyway i didnt look in detail huge spike after Bernanke talk but after 1.30 test current development also good fit ABC correction (without considering lower degree relationships) I mean A = C.

lol

Imagine,

There is nice impulse fixed [called wave 1], as a rule of extension 'nice' impulse's fifth wave is extended

Now its heading towards -->[wave 2]

But you see that it has just retraced less than 23.8% of the entire [wave 1] and showing devastating hidden bullish divergence

is it possible to have this situation after a wave's fifth wave to be extended and the wave's retracement just leads above n less than 23.8%

Well, I had an impulsive target at 1.3257 for around 10-14 days followed by a correction in a minor Wave iv to yesterday's low. So I'm pretty certain that this part is in an impulsive move. There are two options as I mentioned in an earlier post but with momentum looking pretty Dollar bearish it's looking more likely that it'll follow-through.

In terms of leading/ending diagonals... well, my modifications mean that ALL 5-wave moves come in 3's so diagonals are irrelevant! They may develop in a wedge but will still need the underlying Wave a's and c's to develop in the same way. No extended waves - which are a factor of the wrong structure in the first place...

Yes, it's not always easy to see impulsive versus corrective. However, by using a disciplined ratio method the subjectivity is far lower. Basically multiple ABC structures do not normally see impulsive ratios between the 3's - nor do they normally display alternation. So there is a methodology to sift through the minefield. More importantly, it is important to reference the larger wave degree and how the lower fits into the higher. They are related. That is why I asked because if you consider this a corrective wave - what is it correcting and what are the implications? Understanding that can help avoid problems...

The benefit of HEW is that you have a greater understanding of what is needed for your wave count to be right - and in many cases where it's wrong... Traditional EW is vague and doesn't offer that... You have the complications of whether Wave 1, 3 of 5 will extend and how much by? All too often it's retrospective. Will there be a failed fifth? (they don't exist either...!) How do you know whether Wave 3 will be 117% or 252% or 3,541% ...?? it's all haphazard and I couldn't accept that.

Thanks again Ian... I think you mean 1.3257 above... Let me ask one question? As you know in classic EW triangles happen on Wave B(and X or XX whatever else) or Wave 4 position... It can only happen on Wave 2 if only it is a part of lower degree wave formation... You agree that in wave 2 of 5 waves movement we shouldn't see a triangle correction (except if it is a part of lower degree formation)?

This response is a double one - for Almond Eyes and also Hiren concerning alternation and deep Wave b of Wave iii...

OK, here is what I have been following in EURUSD. As I mentioned, I am following two counts although I prefer the direct impulsive one. Certainly the next (blue) Wave -iii- target is within points of a corrective target so we'll need to judge the correction - the Wave -iv- and whether it breaks below based on alternation and the requirement for where Wave -v- must reach.

In the chart I have labeled the projection and retracement ratios. As a basic guide for those who have not read anything about HEW there are standard impulsive wave projections:
Wave (iii)
176.4% - 198.4%, 223.6%, 238.2%, 261.8% - 298.4%, 323.6%, 338.2%, 361.8% - 398.4% and so on.
Wave (c)
Generally start from 66.7% & 76.4% (not seen that often) but then more frequently: 85.4%, 90%, 94.4%, 98.4%, 102%, 105.6%, 114.6%, 123.6%, 138.2%, 161.8%... I also note than not so infrequently 27% and 46% turn up.

The Wave (c) projections are secondary to the impulsive ratio projections - thus favour the impulsive.

The most difficult part is making sure you have the valid Wave -i- and Wave -ii- as these are the building blocks for everything else. If this is an impulsive wave higher then I know the approximate target for Wave -v- already. From that I can "guesstimate" the Wave -iii- areas that would be appropriate that after the Wave -iv- (already known because of alternation) that a valid Wave -v- projection will reach my target.

The second most difficult part of this was anticipating where the Wave -b- of -iii- would be. Once established I then knew the approximate areas that would be correct for Wave -iii-. So then I knew there would be a 5-wave move in Wave -c- that needed to reach the Wave -iii- projection. From the chart you can see how this proceeded. I called the (navy) Wave iii at 1.3217 as that had a nice combination of Wave c / iii projections. Then I had to match the (navy) Wave v to the (green) Wave iii target - my target at 1.3257 (the top at 1.3255.) I know know where (green) Wave v needs to reach to meet the target I have for the (blue) Wave -iii-.

Throughout you can see that we have had a deep-ish Wave -b- of Wave -iii-, a deep (green) Wave b of Wave iii and a deep (navy) Wave b of Wave iii. The 66.7%-85.4% are not so uncommon. The problem with these Wave b's is that they are rather like a joker card - they can be very shallow, they can be very deep. Overall, the Wave c and Wave iii projections should be as close to valid as possible - though the impulsive rations, as I said, are dominant.

You will also see throughout that the alternation between linked Wave ii and Wave iv's are all related. (shallow / deep and simple / complex.)

So, I hope this gives better insight into the way HEW works. Leading/ending diagonals are irrelevant in this method...

One thing I should add is that I do tend to find that when people are used to EW they tend to ignore waves and just eyeball a chart to label it. On top of that, you will find that (say) hourly bars will sometimes hide a Wave i and Wave ii in the shorter times frame. I analyse from the 5 min chart upwards and occasionally have to go into the 1 min chart should there be a big 5-min bar spike (as in USDCHF last night...) I would also suggest never eyeballing a chart and labelling. Yes, I do eyeball a chart - but then measure so it's quite an intense form of analysis but one that can on not too infrequent occasions can be exceptionally accurate - 1.3257 / 1.3255 being just one example.

Oh! yes, I wrote 1.5257... thanks - I'll go and edit it back!

I do not see triangles in Wave 2.
Some people use them because it "looks like" a triangle when in fact they are merely the lower degree Wave i and Wave ii developing - and match later in alternation with the Wave iv. In fact that can happen in a Wave b or iv position also - looks like a triangle but is actually a lower degree Wave i & ii.

Thanks again Ian.. It was a nice morning webinar (or foruminar )for my time zone

At a glance updated chart...

Quick learner!


Not sure of your data - but I have 223.6% at 1.3306 and 238.2% at 1.3334... otherwise ... I agree...

I'll add a special offer to FF members if it's of interest to anyone.

I am an IB to Worldwide markets. Obviously I get a kick back.

If you wish to get my weekly report free of charge then sign up for a live account - but please through my blog as then it all goes through smoothly. If anyone trades a larger size I can even provide the daily report...

Thanks This is futures contract so there is something carrying cost..(Not sure how it works exactly) So prices are not identical with Forex.

Hello all traders,

For all your replies and appreciations on my posts.....,

Gbp/Usd on elliott wave perspective could be on very sharp rise for this week,
It might cross 1.57
If you are keep geting divergences keep buying..

(above is invalid if it breaks below 1.52600)

(FYI:This is not a gamblers paradise & [edit:- not like pandora's box (laughs)]

Hi all,
great thread!
Possible HEW 4H GOLD count.
Comments welcome.
Cheers,
U2