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Elliott Wave Trading

  • #5,961
  • Aug 28, 2013 3:36am Aug 28, 2013 3:36am
Possible triangle development? As mentioned in some EW sources about triangles that the Wave C in general most complex and longer one.. So, some doubts about this count but as long as this is not a rule, it is worth to keep eyes on this count IMO:nerd:

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  • #5,962
  • Aug 28, 2013 4:59am Aug 28, 2013 4:59am
Hi Guys,

Is there any indicator available to help identify wave counts and/or Elliot patterns?

Many thanks!
Cheers!!
  • #5,963
  • Aug 28, 2013 5:46am Aug 28, 2013 5:46am
Quoting PipsMaster23
Hi Guys, Is there any indicator available to help identify wave counts and/or Elliot patterns? Many thanks!

lol... only if life was that simple...
  • #5,964
  • Aug 28, 2013 5:52am Aug 28, 2013 5:52am
Quoting PipsMaster23
Hi Guys, Is there any indicator available to help identify wave counts and/or Elliot patterns? Many thanks!
There is an indicator exist which is called Elliott Wave Oscillator which is nothing but difference between 34 days moving average & 5 days moving average. It lets you to determine divergences which is the indication of Wave 5 development or in general at least a temporary change in trend...
  • #5,965
  • Aug 28, 2013 11:13am Aug 28, 2013 11:13am
GOLD 4H Chart:[Shooting from the hip, will look at the ratios next]
Cheers,
U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 130828_4h[2]spot gold.png Size: 63 KB
Click to Enlarge Name: 130828_4h[1]spot gold.png Size: 59 KB
Wait, or you will be slaughtered!
  • #5,966
  • Aug 28, 2013 11:42am Aug 28, 2013 11:42am
Quoting PipsMaster23
Hi Guys, Is there any indicator available to help identify wave counts and/or Elliot patterns? Many thanks!
Hi PM,
You might take a look at the Harmonic Elliott Wave Structure,
combined with Ian's Spreadsheet [available free from his website].
Ian actually describes HEW as an 'indicator',
so it may be just what you are looking for.
Measuring the waves, and matching them up with the HEW Structure,
gives confidence in market direction, and provides targets for the wave structure.
HEW also places high importance on alternation between waves ii and iv.

All the information is available on Ian's websites:
Harmonic Elliott Wave:
Harmonic Elliott Wave Blogspot:

Cheers,
U2
Wait, or you will be slaughtered!
  • #5,967
  • Edited 1:59pm Aug 28, 2013 1:29pm | Edited 1:59pm
Quoting Uturn2
GOLD 4H Chart:[Shooting from the hip, will look at the ratios next] Cheers, U2 {image} {image}
The wave ratios indicated that my count on the previous post
was not a valid HEW pattern.
Wave iii must be a minimum 176.4% projection of wave wave i,
and it was way too short.
Therefore, for wave i and ii to be valid in this count,
wave iii should reach a minimum ~1441.57.
Cheers,
U2
Possible GOLD 4H Chart:
Edit: Chart labels
Attached Image (click to enlarge)
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Wait, or you will be slaughtered!
  • #5,968
  • Aug 29, 2013 7:02am Aug 29, 2013 7:02am
5 min gold chart impulse or just an abc correction
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  • #5,969
  • Edited 1:09pm Aug 29, 2013 12:54pm | Edited 1:09pm
Quoting sanacasta
5 min gold chart impulse or just an abc correction {image}
Hi s,
I'm not sure if GOLD has topped,
and still waiting to see if this is a wave iv correction.
If this is an abc corrective rally [refer DLY Chart],
wave c may exceed wave a [refer HEW spreadsheet].
Quite often c=a is a likely target.
[c=a=1440.62]
It would be reasonable to expect sellers at 1440.62?
Current high 1433.63 = 95.84% [a touch above the 94.4%].
Cheers,
U2
GOLD 4h Chart:
GOLD DLY Chart:
HEW spreadsheet snapshot:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 130829_4h[1]spot gold.png Size: 50 KB
Click to Enlarge Name: 130829_dly[1]spot gold.png Size: 44 KB
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Wait, or you will be slaughtered!
  • #5,970
  • Aug 29, 2013 3:20pm Aug 29, 2013 3:20pm
Thanks for your comment Uturn i will try a small short at my 2 or b wave. I dont expect new high.
Cheers
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  • #5,971
  • Aug 30, 2013 6:47am Aug 30, 2013 6:47am
Quoting sanacasta
Thanks for your comment Uturn i will try a small short at my 2 or b wave. I dont expect new high. Cheers {image} {image} {image}
Hi sanacaster,
Thanks for your charts.
They really have me looking outside what I'm currently seeing.
I have just finished re-working my [stubborn] 'higher yet' count.
The ratios look ok, and there is good alternation between wave -ii- and -iv-
[presuming it's finishing at ~1392.56].
[It would be what Ian calls a 'Deep Wave iv'.
He has a video on it.]
I'm not trading it at the moment.
First I want to do another chart with 1433.63 being the top,
and now heading down [as you indicate].
This could very well be abc i down [complete, or completing],
and next comes wave ii correction [up].
If so, there will be an opportunity to short wave iii down.
Cheers.
U2
Attached Image (click to enlarge)
Click to Enlarge Name: 130830_4h[1]spot gold.png Size: 70 KB
Wait, or you will be slaughtered!
  • #5,972
  • Aug 30, 2013 8:41am Aug 30, 2013 8:41am
Thanks Uturn
i will follow MACD for confirmation 4.wave.
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  • #5,973
  • Aug 30, 2013 9:21am Aug 30, 2013 9:21am
Quoting sanacasta
Thanks Uturn i will follow MACD for confirmation 4.wave. {image}
Hi sanacasta,
Taken a small Long.
Looks like an abc correction has completed.
Almost got to 85.4%
abc i [Short] or maybe abc iv [Long]?
Cheers,
U2

Also sent you a PM.............
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Wait, or you will be slaughtered!
  • #5,974
  • Aug 30, 2013 4:40pm Aug 30, 2013 4:40pm
Hello gold traders n Hews technicians..

As a Hew's rule there are not failed waves,


Now, this is not a topic that anyone should start or what, but when I was looking at gold chart I found a failure of 5th
What are your views//?

Below picture,
After green 3, the 4th went sideways ( 4th's wave c also a pattern failure?)
The yellow 4th was a strong upside correction and then there was a failure...?
Now, this is strong and risky speculation.. someone reply about this..
This isn't HEW theory based count, it just Elliott Wave count

*generally I don't trade gold*
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  • #5,975
  • Aug 31, 2013 12:33am Aug 31, 2013 12:33am
Quoting hirenfxtrade
Hello gold traders n Hews technicians.. As a Hew's rule there are not failed waves, Now, this is not a topic that anyone should start or what, but when I was looking at gold chart I found a failure of 5th What are your views//? Below picture, After green 3, the 4th went sideways ( 4th's wave c also a pattern failure?) The yellow 4th was a strong upside correction and then there was a failure...? Now, this is strong and risky speculation.. someone reply about this.. This isn't HEW theory based count, it just Elliott Wave count *generally I don't...
Of course you'll know I don't think it's a failed fifth but take a look at the chart. Momentum remains bearish so it actually looks as if it will extend losses...
(I haven't had a good look at the bearish count yet so won't comment on that...)
Attached Image (click to enlarge)
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No I haven't got the wave structure wrong! I've corrected it!
  • #5,976
  • Sep 1, 2013 3:07pm Sep 1, 2013 3:07pm
Hi,
I have been looking at GOLD as a correction down,
as a possible deep wave iv.
Cheers,
U2
GOLD 1H Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 130901_1h[1]spot gold.png Size: 58 KB
Wait, or you will be slaughtered!
  • #5,977
  • Sep 1, 2013 3:27pm Sep 1, 2013 3:27pm
Quoting Uturn2
Hi, I have been looking at GOLD as a correction down, as a possible deep wave iv. Cheers, U2 GOLD 1H Chart: {image}
GOLD 4H Chart:
Cheers.
U2
Attached Image (click to enlarge)
Click to Enlarge Name: 130901_4h[1]spot gold.png Size: 55 KB
Wait, or you will be slaughtered!
  • #5,978
  • Sep 1, 2013 5:09pm Sep 1, 2013 5:09pm
Quoting Uturn2
{quote} GOLD 4H Chart: Cheers. U2 {image}
Uturn2
I'll comment merely in terms of HEW as I would prefer to highlight what is, and what isn't, acceptable in HEW so there is no confusion for others looking to use this technique.

In terms of the Wave a/ iii I'd like to know the internal count as I can't see that this was in 5 waves.
In your expected Wave -iv- it is rather too close to the extreme of Wave -b- / -iii- so I feel that is unlikely to be correct also.

In the chart higher above, what is the decline labeled abcde? I assume a diagonal triangle, which is fine if you want to use it, but is not something that occurs in HEW.

That zigzag plot is so misleading!
No I haven't got the wave structure wrong! I've corrected it!
  • #5,979
  • Edited 5:05am Sep 2, 2013 3:29am | Edited 5:05am
What do you think about it?
Just beginning to learn EW.
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  • #5,980
  • Sep 2, 2013 2:02pm Sep 2, 2013 2:02pm
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I think one more leg down remained to complete down move in short term. Target 1.3144
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