Elliott wave outlook | Page 448 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Elliott Wave Counting with EG 2,835 replies

EUR/USD and other - Elliott Wave Analysis 21 replies

The Basics of Elliott Wave Theory 128 replies

Elliott Wave Gbp/usd 4 replies

(Euro) Elliott Wave Formations 43 replies

Attachments: Elliott wave outlook
Exit Attachments

Elliott wave outlook

Sep 11, 2014
Last Sync: Sep 11, 2014
Sep 11, 2014
Last Sync: Sep 11, 2014
Sep 11, 2014
Last Sync: Sep 11, 2014
Sep 11, 2014
Last Sync: Sep 11, 2014
to
No trading activity in this period.
  • #8,941
  • Aug 2, 2013 11:50am Aug 2, 2013 11:50am
Quoting Luis Carlos
{quote} PT that 4 is too big to be a 4
All the better to see it

Why is it too big?
Those who say it cannot be done should not interrupt those who are doing it
  • #8,942
  • Aug 2, 2013 11:54am Aug 2, 2013 11:54am
Quoting PipTrapper
{quote} All the better to see it Why is it too big?

Look at monthly on smaller tf.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,943
  • Aug 2, 2013 12:04pm Aug 2, 2013 12:04pm
Quoting Mr. Scott
{quote} Look at monthly on smaller tf.
??
Those who say it cannot be done should not interrupt those who are doing it
  • #8,944
  • Aug 2, 2013 12:14pm Aug 2, 2013 12:14pm
Quoting PipTrapper
{quote} ??

IMO, I see 5 waves down.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,945
  • Aug 2, 2013 12:37pm Aug 2, 2013 12:37pm
Quoting Mr. Scott
{quote} IMO, I see 5 waves down.
I don't
Here's the weekly. Sorry my daily doesn't go back far enough to see the 2008 drop, but you can still count the sub-sub-waves.
I see only 5 sub-sub-waves between sub-wave 2 and sub-wave 3, so that is a valid orange 3 and therefore the orange 5 (yellow 3) is also valid.
After than is a 5-5-5-5-5 triangle abcde wave 4 correction. Wave e failed to reach the triangle resistance and all other rules match. So I see a confirmed wave 4 after the break down of triangle support and retest as resistance.

The only other alternative is that instead of a yellow 1234, starting from yellow 2 we have an ABC correction and the B wave is what is indicated on the chart as yellow 4

If you see something that disproves my analysis, I would appreciate the feedback.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 81 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #8,946
  • Aug 2, 2013 8:41pm Aug 2, 2013 8:41pm
Quoting PipTrapper
{quote} I don't Here's the weekly. Sorry my daily doesn't go back far enough to see the 2008 drop, but you can still count the sub-sub-waves. I see only 5 sub-sub-waves between sub-wave 2 and sub-wave 3, so that is a valid orange 3 and therefore the orange 5 (yellow 3) is also valid. After than is a 5-5-5-5-5 triangle abcde wave 4 correction. Wave e failed to reach the triangle resistance and all other rules match. So I see a confirmed wave 4 after the break down of triangle support and retest as resistance. The only other alternative is that instead...

I appreciate you sharing your hard work with us but how about if we look at it like this?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.jpg Size: 147 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,947
  • Aug 2, 2013 10:33pm Aug 2, 2013 10:33pm
Quoting PipTrapper
{quote} All the better to see it Why is it too big?
It is too big in time and the structure is not harmonic. Doesnt forget how Elliott used trendlines
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #8,948
  • Aug 2, 2013 11:07pm Aug 2, 2013 11:07pm
Quoting Luis Carlos
{quote} It is too big in time and the structure is not harmonic. Doesnt forget how Elliott used trendlines

Hi Luis,

And what else my friend?
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,949
  • Aug 3, 2013 2:34am Aug 3, 2013 2:34am
Quoting PipTrapper
{quote} I don't Here's the weekly. Sorry my daily doesn't go back far enough to see the 2008 drop, but you can still count the sub-sub-waves. I see only 5 sub-sub-waves between sub-wave 2 and sub-wave 3, so that is a valid orange 3 and therefore the orange 5 (yellow 3) is also valid. After than is a 5-5-5-5-5 triangle abcde wave 4 correction. Wave e failed to reach the triangle resistance and all other rules match. So I see a confirmed wave 4 after the break down of triangle support and retest as resistance. The only other alternative is that instead...

This is the big ABC-count

Out of my view, this count has a better probability than the count where we are in wave 4 now, because when you analyze the huge move down (in my case the wave A) its momentum distribution points to a terminated impulse.

And yes, Luis might be right, when he says, that a wave 4 triangle would not fit so good in this count, because it appears too time consuming.

The big move down consumed around 400 days, whereas the triangle consumed around 1400 days


Nice weekend to all,


Markus
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_2 Days_snapshot.png Size: 65 KB
  • #8,950
  • Aug 3, 2013 2:36am Aug 3, 2013 2:36am
Quoting Mr. Scott
{quote} I appreciate you sharing your hard work with us but how about if we look at it like this? {image}

That means? Did you forget the labeling?
  • #8,951
  • Aug 3, 2013 6:50am Aug 3, 2013 6:50am
Quoting Mr. Scott
{quote} I appreciate you sharing your hard work with us but how about if we look at it like this? {image}
It is my belief that tick volume doesn't mean much when used alone. In order to derive something meaningful from it, I prefer to combine it with candlestick price action, in which case it screams "bearish" to me.

Regardless of any of the above, I'm sticking with my EW analysis until proven wrong
Those who say it cannot be done should not interrupt those who are doing it
  • #8,952
  • Aug 3, 2013 6:57am Aug 3, 2013 6:57am
Quoting infinitus
{quote} This is the big ABC-count Out of my view, this count has a better probability than the count where we are in wave 4 now, because when you analyze the huge move down (in my case the wave A) its momentum distribution points to a terminated impulse. And yes, Luis might be right, when he says, that a wave 4 triangle would not fit so good in this count, because it appears too time consuming. The big move down consumed around 400 days, whereas the triangle consumed around 1400 days Nice weekend to all, Markus {image}
Fair enough and I am inclined to agree, but the end result is still the same. Now instead of painting a 5th wave down, we instead paint a C wave down... the key word being "down" via 5 sub waves.

See you around 1.37/38 (hopefully)
Those who say it cannot be done should not interrupt those who are doing it
  • #8,953
  • Aug 3, 2013 6:59am Aug 3, 2013 6:59am
Quoting Luis Carlos
{quote} It is too big in time and the structure is not harmonic. Doesnt forget how Elliott used trendlines
So in this case, as I suggested as an alternative and as Infinitus suggested as most likely, it is not wave 4, but rather wave B
Those who say it cannot be done should not interrupt those who are doing it
  • #8,954
  • Aug 3, 2013 8:40am Aug 3, 2013 8:40am
EurHuf, wave 4 is still in formation, but if it exceeds area 300…
Attached Image (click to enlarge)
Click to Enlarge Name: eurhuf.gif Size: 20 KB
  • #8,955
  • Aug 3, 2013 9:40am Aug 3, 2013 9:40am
Quoting infinitus
{quote} That means? Did you forget the labeling?

Sir, I did not label it because I did not want to influence anyone, I wanted them to look at it and see it for themselves.

But in this chart, if you remove the candles it becomes clearer imo.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,956
  • Aug 3, 2013 11:12am Aug 3, 2013 11:12am
Quoting PipTrapper
{quote} It is my belief that tick volume doesn't mean much when used alone. In order to derive something meaningful from it, I prefer to combine it with candlestick price action, in which case it screams "bearish" to me. Regardless of any of the above, I'm sticking with my EW analysis until proven wrong

Hi PT,

Volume can play an important role in identifying waves but not in this case imo. To me, the picture is clearer when we remove the noise of the candlesticks.

First, time, symmetry, channels, and harmony all sing something wrong with 3 waves. No matter, I think you have the overall direction right. But I see 5 waves down.

So, I looked at it closer as my mind and eyes tell me this is all a corrective mess and the big move had to be 5 impulsive waves down. This is what I see on closer inspection.

If I messed it up, I will gladly accept any corrections. Apologize in advance as trying to be specific but house is a little crazy on Sat morning and hard to focus.

Scott
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.jpg Size: 192 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,957
  • Aug 3, 2013 11:55am Aug 3, 2013 11:55am
Quoting Mr. Scott
{quote} Hi PT, Volume can play an important role in identifying waves but not in this case imo. To me, the picture is clearer when we remove the noise of the candlesticks. First, time, symmetry, channels, and harmony all sing something wrong with 3 waves. No matter, I think you have the overall direction right. But I see 5 waves down. So, I looked at it closer as my mind and eyes tell me this is all a corrective mess and the big move had to be 5 impulsive waves down. This is what I see on closer inspection. If I messed it up, I will gladly accept...
Hi Scott,
Of course you are absolutely correct in your assertion that there are 5 waves down. the A and C legs of an ABC zigzag always have 5 waves. In fact all impulse wave do and these include the A & C as previously stated, as well as waves 1, 3 and 5 of a 12345.
As such, If you zoom in on a smaller time frame, you will also see 5 waves in the 1st, 3rd and 5th sub-waves that you have identified. The 2nd and 4th waves could be one of a variety of types such a simple abc zigzag, or a double or triple zigzag (wxy) or even a 5 wave contracting triangle (abcde) made up of a 33333 or 55555 pattern or a combination of both depending on the period of consolidation.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #8,958
  • Aug 3, 2013 2:18pm Aug 3, 2013 2:18pm
Quoting PipTrapper
{quote} Fair enough and I am inclined to agree, but the end result is still the same. Now instead of painting a 5th wave down, we instead paint a C wave down... the key word being "down" via 5 sub waves. See you around 1.37/38 (hopefully)

The difference is the longitude a wave 5 may reach in comparison to a wave C

37/38 - I would be disappointed

I do target at least 1.15
  • #8,959
  • Aug 3, 2013 2:21pm Aug 3, 2013 2:21pm
Quoting infinitus
{quote} The difference is the longitude a wave 5 may reach in comparison to a wave C 37/38 - I would be disappointed I do target at least 1.15
I am talking about the short term.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,960
  • Edited 3:00pm Aug 3, 2013 2:44pm | Edited 3:00pm
Quoting elisab
EurHuf, wave 4 is still in formation, but if it exceeds area 300… {image}
Hi e,
It may be further advanced in the count?
HEW 2DLY Chart:
Cheers,
U2

Chart Edited..........
Attached Image (click to enlarge)
Click to Enlarge Name: 130802_2DLY[1] EURHUF.png Size: 138 KB
Wait, or you will be slaughtered!
7 traders viewing now