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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #5,801
  • Aug 23, 2013 11:07am Aug 23, 2013 11:07am
Quoting infinitus
{quote} two faults :nerd: a) a triple three is a triple zigzag and no wxy b) a triangle comes before the final move; that means it can be a B-wave, a y-wave in a wxy, the last x-wave in a wxyxz, but it can not be a z-wave
Good to know. Thanks. I'll get close to your geek level soon enough hanging around here
Those who say it cannot be done should not interrupt those who are doing it
  • #5,802
  • Aug 23, 2013 11:08am Aug 23, 2013 11:08am
Quoting PipTrapper
{quote} Here's the count for that... {image}

that is what I meant - we miss most likely a wave 5

but when we count on 1min TF or 5min TF, all waves may be in place
  • #5,803
  • Aug 23, 2013 11:09am Aug 23, 2013 11:09am
Quoting infinitus
{quote} WXY is an invention from Prechter, who felt the need to do so LOL
So basically, forget wxy and z and just look at the abc zigzag and abc flat and triangles separately and just keep adding them on until price has clearly started a new larger impulse. Correct?
Those who say it cannot be done should not interrupt those who are doing it
  • #5,804
  • Aug 23, 2013 11:10am Aug 23, 2013 11:10am
Quoting infinitus
{quote} that is what I meant - we miss most likely a wave 5 but when we count on 1min TF or 5min TF, all waves may be in place
Yes. Already explained that in EurAnalysis thread.
Here's the chart I posted.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.png Size: 71 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #5,805
  • Aug 23, 2013 11:11am Aug 23, 2013 11:11am
Thanks for your explanation guys.....i think it is the most dificult of the EW
  • #5,806
  • Aug 23, 2013 11:11am Aug 23, 2013 11:11am
Quoting PipTrapper
{quote} Good to know. Thanks. I'll get close to your geek level soon enough hanging around here

one of my mountaineer-comrades, who is interested in trading, and in Elliott wave now LOL suggested me to write a book about


Elliott wave related mountaineering, because there are impulsive routes, and there are routes which looks like a complex correction
  • #5,807
  • Aug 23, 2013 11:15am Aug 23, 2013 11:15am
Quoting PipTrapper
{quote} So basically, forget wxy and z and just look at the abc zigzag and abc flat and triangles separately and just keep adding them on until price has clearly started a new larger impulse. Correct?

the reason Prechter came with wxyxz was, that there often do occur very complex corrections in form of


wxy, where w again is wxy, x is again wxy, and z is also wxy



use the wxyxz to make the count more clear


if you count those very complex moves with only ABC, you will get mad
  • #5,808
  • Aug 23, 2013 11:16am Aug 23, 2013 11:16am
Quoting infinitus
{quote} one of my mountaineer-comrades, who is interested in trading, and in Elliott wave now LOL suggested me to write a book about Elliott wave related mountaineering, because there are impulsive routes, and there are routes which looks like a complex correction
Wouldn't that be interesting it it matches EW waves.
So the start of the expedition is a small impulse which represents fallen rocks that settled at the bottom
Transition from those rocks on to the main slope is the wave 2 correction
Then we have the large slope towards the peak (wave 3)
then the transition from top of slope to the rocks of the peak (wave 4 and most complex)
then the peak itself which could be an impulse or an ending diagonal (wave 5)
Those who say it cannot be done should not interrupt those who are doing it
  • #5,809
  • Aug 23, 2013 11:18am Aug 23, 2013 11:18am
Quoting infinitus
{quote} WXY is an invention from Prechter, who felt the need to do so LOL
And you know how many times these guys have been terribly wrong. It gets you biased. Being biased in trading can be very harmful to your account.
I would prefer supply demand, Gann+ Gartley + Divergence over EW anytime.
i believe Price is everything , so act according to the price in other words trade with price action. One does not need to catch or count every move. Keep it simple is what I do .
Markets are not Random, they are designed!
  • #5,810
  • Aug 23, 2013 11:20am Aug 23, 2013 11:20am
Quoting infinitus
{quote} the reason Prechter came with wxyxz was, that there often do occur very complex corrections in form of wxy, where w again is wxy, x is again wxy, and z is also wxy use the wxyxz to make the count more clear if you count those very complex moves with only ABC, you will get mad
I see. So it is like using a abacus.
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #5,811
  • Aug 23, 2013 11:25am Aug 23, 2013 11:25am
Quoting Raza
{quote} And you know how many times these guys have been terribly wrong. It gets you biased. Being biased in trading can be very harmful to your account. I would prefer supply demand, Gann+ Gartley + Divergence over EW anytime.
I use most of those tools and they are Very good for estimating points of interest, but they do nothing to predict phases of crowd psychology. As long as an Elliottician refrains from becoming biased by always considering all alternatives, then there is no risk of serious damage to your account. As always success is more about the trader and not the tools he/she uses.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,812
  • Aug 23, 2013 11:30am Aug 23, 2013 11:30am
Quoting PipTrapper
{quote} I use most of those tools and they are Very good for estimating points of interest, but they do nothing to predict phases of crowd psychology. As long as an Elliottician refrains from becoming biased by always considering all alternatives, then there is no risk of serious damage to your account. As always success is more about the trader and not the tools he/she uses.
This is why I am not dependent on EW as it is deceiving and F**ks with your mind.
there is no need to complicate things .things can be traded with accuracy without EW and even without fibs.
lets see somethings in September.
Markus knows I don't believe in crowd physiology!��

Divergence gets you on the right side.
Markets are not Random, they are designed!
  • #5,813
  • Aug 23, 2013 11:37am Aug 23, 2013 11:37am
Quoting PipTrapper
{quote} I use most of those tools and they are Very good for estimating points of interest, but they do nothing to predict phases of crowd psychology. As long as an Elliottician refrains from becoming biased by always considering all alternatives, then there is no risk of serious damage to your account. As always success is more about the trader and not the tools he/she uses.
not a bad combo i should be better at both...when all is said and done...buy low sell higher or visa a verso still applies...the trick is to be on the RIGHT side...
  • #5,814
  • Aug 23, 2013 11:52am Aug 23, 2013 11:52am
Quoting Raza
{quote} This is why I am not dependent on EW as it is deceiving and F**ks with your mind. there is no need to complicate things .things can be traded with accuracy without EW and even without fibs. lets see somethings in September. Markus knows I don't believe in crowd physiology!�� Divergence gets you on the right side.
Perhaps EW has nothing to do with crowd psychology, but rather it is a natural phenomenon much like Fibs, or maybe it is a self-fulfilling prophecy much like Gann, Moving averages, supply/demand and divergences

However, it is still the closest one can come to predicting the probable direction of a large impulse move, because the others only tell you where price might reverse without telling you if it is a corrective or impulsive move to follow.

I would definitely argue that EW is not necessary for intraday or small swing trading, but when one wants to position themselves in the market for a large move, EW is the best tool I know of.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,815
  • Aug 23, 2013 12:03pm Aug 23, 2013 12:03pm
IMF's Christine LaGarde: Unconventional policy exit poses serious risks to those countries without them
Those who say it cannot be done should not interrupt those who are doing it
  • #5,816
  • Aug 23, 2013 12:07pm Aug 23, 2013 12:07pm
Quoting PipTrapper
{quote} Perhaps EW has nothing to do with crowd psychology, but rather it is a natural phenomenon much like Fibs, or maybe it is a self-fulfilling prophecy much like Gann, Moving averages, supply/demand and divergences However, it is still the closest one can come to predicting the probable direction of a large impulse move, because the others only tell you where price might reverse without telling you if it is a corrective or impulsive move to follow. I would definitely argue that EW is not necessary for intraday or small swing trading, but...
Debatable! 😊
see you guys next month
Markets are not Random, they are designed!
  • #5,817
  • Aug 23, 2013 12:14pm Aug 23, 2013 12:14pm
Quoting Raza
{quote} Debatable! 😊 see you guys next month

Looking forward to it, will be good to have another solid trader here.

My best to you and your mother.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #5,818
  • Aug 23, 2013 12:29pm Aug 23, 2013 12:29pm
Quoting PipTrapper
{quote} Wouldn't that be interesting it it matches EW waves. So the start of the expedition is a small impulse which represents fallen rocks that settled at the bottom Transition from those rocks on to the main slope is the wave 2 correction Then we have the large slope towards the peak (wave 3) then the transition from top of slope to the rocks of the peak (wave 4 and most complex) then the peak itself which could be an impulse or an ending diagonal (wave 5)

Ha, that sounds good


today I had a truncated fifth - it was an ice peak at the glacier - I could not climb the last 20 meters, because I hadn't for the last meters the right material.

Can say you - failed fifth sucks big time
  • #5,819
  • Aug 23, 2013 12:30pm Aug 23, 2013 12:30pm
Quoting Raza
{quote} Debatable! 😊 see you guys next month
Everything is debatable

Enjoy your holidays
Those who say it cannot be done should not interrupt those who are doing it
  • #5,820
  • Aug 23, 2013 12:33pm Aug 23, 2013 12:33pm
Quoting infinitus
{quote} Ha, that sounds good today I had a truncated fifth - it was an ice peak at the glacier - I could not climb the last 20 meters, because I hadn't for the last meters the right material. Can say you - failed fifth sucks big time
Maybe when your take profit is at the top of the fifth, yes.
Those who say it cannot be done should not interrupt those who are doing it
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