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Elliott Wave Trading

  • #5,981
  • Sep 2, 2013 5:01pm Sep 2, 2013 5:01pm
Quoting xspojlerx
What do you think about it? Just beginning to learn EW. {image}

Hi X

I believe you are on the right path. This pair is bullish imho. The triangle has completed an abcde pattern and we are now seeing the thrust from the structure. This is my opinion though there are better Ewavers on this thread

Olu
If you think you can or cannot do it you are correct
  • #5,982
  • Sep 3, 2013 2:50am Sep 3, 2013 2:50am
Possible triangle formation in USD/JPY

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  • #5,983
  • Sep 3, 2013 2:51am Sep 3, 2013 2:51am
Quoting Olu
{quote} Hi X I believe you are on the right path. This pair is bullish imho. The triangle has completed an abcde pattern and we are now seeing the thrust from the structure. This is my opinion though there are better Ewavers on this thread Olu
Hi Olu, thank you for your comment Ideal triangle should have 5 wave, so I draw 1 more down wave, but of course I was aware that may be less. IMO daily close above the upper line, confirmed it.
  • #5,984
  • Sep 3, 2013 2:54am Sep 3, 2013 2:54am
Quoting xspojlerx
What do you think about it? Just beginning to learn EW. {image}

i just started learning e.w as well.here's what i think
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  • #5,985
  • Sep 3, 2013 4:31am Sep 3, 2013 4:31am
We think quite similarly abanjes
  • #5,986
  • Sep 3, 2013 9:16am Sep 3, 2013 9:16am
Quoting Almondeyed
{image}I think one more leg down remained to complete down move in short term. Target 1.3144
Target hit. Within few hours we will see that how accurate this count is.
  • #5,987
  • Sep 3, 2013 12:16pm Sep 3, 2013 12:16pm
Quoting Almondeyed
{quote} Target hit. Within few hours we will see that how accurate this count is.



WEEKLY OUTLOOK FOR THE DOLLAR INDEX
No I haven't got the wave structure wrong! I've corrected it!
  • #5,988
  • Sep 3, 2013 12:32pm Sep 3, 2013 12:32pm
Ah thanks Ian to share it! My eyes were on your blog to see your comments for tomorrow
  • #5,989
  • Sep 6, 2013 2:19pm Sep 6, 2013 2:19pm
Possible 15m GOLD count?
Draft idea, need to measure and count.
Cheers,
U2
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Wait, or you will be slaughtered!
  • #5,990
  • Sep 9, 2013 3:26am Sep 9, 2013 3:26am
Hello ,
For the currency pair EUR / USD, pursuing a zigzag. At this point we have completed a and b waves and wave c is running. The wave-a is an extended wave-5 impulse and wave b is an failed irregular flat . Under these conditions, we expect that in the next few days (possibly weeks) to have part of an uptrend, with finalization in around 1.3600 (1.3550 to 1.3650).
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  • #5,991
  • Sep 9, 2013 3:34pm Sep 9, 2013 3:34pm
Possible EURUSD 15m Chart?
Cheers,
U2
Attached Image (click to enlarge)
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Wait, or you will be slaughtered!
  • #5,992
  • Sep 11, 2013 11:21pm Sep 11, 2013 11:21pm
Helo dear, I am new trader.
I have two question plz clear my confusions
1.when i can open mt4 those time how to find which wave is running?
2.Help any indicator which can give signal which wave ....is running?
if you have plz give me.
  • #5,993
  • Sep 12, 2013 4:10am Sep 12, 2013 4:10am
Quoting fxshariful
Helo dear, I am new trader. I have two question plz clear my confusions 1.when i can open mt4 those time how to find which wave is running? 2.Help any indicator which can give signal which wave ....is running? if you have plz give me.
I will provide you with my view having used EW for 23 years.
Firstly EW is not simple and certainly not simple enough to have an indicator tell you what wave is which. Any algorithm based indicator has no chance of coping with the enormous range of reactions that the market displays and that extends to indicators such as momentum, RSI, Stochastics, MACD etc.

EW itself allows users to make up counts that they want to satisfy their view. While many say there are "many rules" in fact there are only 3 and therefore the gates are open to manipulate it as much as you want. After all, the basic requirement is to put numbers or letters above/below swing highs and swing lows and hey presto you have a wave count. In fact, it doesn't work that way. As you get more experienced you can get closer to forecasting but never with any consistent reliability. Wave 3's I've seen people provide range from less than 100% to over 1,000%...

The stark reality of EW is that in the main it's retrospective in terms of identifying wave endings.

I have my own adaptation that works extremely well for me and can forecast. I'll leave that for others to comment on. It is still a challenge - nothing in this market can be easy. If it was easy and worked all the time... then it wouldn't work because everyone would be using that technique and would have the same position - then others will come in and trigger stop losses. So any constructive analysis is going to take a good deal of study and practice to get be effective in using analytical techniques.

I hope I haven't put you off, but it's important that when you risk your money that you understand that the risk disclaimers saying "you can lose your entire capital" is a reality. It does take time and study so make sure you use a practice account for a long while.

Good luck!
No I haven't got the wave structure wrong! I've corrected it!
  • #5,994
  • Sep 12, 2013 8:27am Sep 12, 2013 8:27am
Quoting Ian Copsey
{quote} I will provide you with my view having used EW for 23 years. Firstly EW is not simple and certainly not simple enough to have an indicator tell you what wave is which. Any algorithm based indicator has no chance of coping with the enormous range of reactions that the market displays and that extends to indicators such as momentum, RSI, Stochastics, MACD etc. EW itself allows users to make up counts that they want to satisfy their view. While many say there are "many rules" in fact there are only 3 and therefore the gates are open to manipulate...
HI Ian,

Nice to see your post.

I downloaded and tried the excel file.

I am totally confused.

Is there any instructions how to use or project the waves.

Thanks.
KC.
  • #5,995
  • Sep 12, 2013 9:05am Sep 12, 2013 9:05am
Quoting Ian Copsey
{quote} I will provide you with my view having used EW for 23 years...
Hi Ian

Thanks for your excellent post about EW. I disagree with you about your vies that EW theory is only useful in retrospect. I use EW as part of my bag of trading tools. And I use it in the simplest of ways. Anywhere I can see a clean 5 wave advance followed by a 3 wave pullback I see $ signs. This is because I know that more often than not there will be another 5 wave directional move. I do not deal with wxy or other complications - just the simple clear interpretations. It has worked pretty well for me so far

Olu
If you think you can or cannot do it you are correct
  • #5,996
  • Sep 12, 2013 10:56am Sep 12, 2013 10:56am
Quoting Uturn2
EURUSD 1H Chart: Cheers, U2 {image}
You were rushed . Wave iv is not finished , but you'll probably see tomorrow.
  • #5,997
  • Sep 12, 2013 12:29pm Sep 12, 2013 12:29pm
Quoting Uturn2
{quote} 5m Chart: Cheers, U2 {image}
Don't rush ! Look at the post 5993 . The minimum target is 1,3550 . How you think will be come there .
  • #5,998
  • Sep 12, 2013 12:48pm Sep 12, 2013 12:48pm
Quoting Uturn2
{quote} 5m Chart: Cheers, U2 {image}
OK ! The last wave isn't an impulse . What can be ?
  • #5,999
  • Sep 12, 2013 1:17pm Sep 12, 2013 1:17pm
Quoting KCV
{quote} HI Ian, Nice to see your post. I downloaded and tried the excel file. I am totally confused. Is there any instructions how to use or project the waves. Thanks. KC.

Hi KC
You'll find a range of videos that cover the basic characteristics of HEW on http://harmonicelliottwave.blogspot.jp/p/videos.html. It includes the spreadsheet...

Good luck
No I haven't got the wave structure wrong! I've corrected it!
  • #6,000
  • Sep 12, 2013 1:20pm Sep 12, 2013 1:20pm
Quoting Olu
{quote} Hi Ian Thanks for your excellent post about EW. I disagree with you about your vies that EW theory is only useful in retrospect. I use EW as part of my bag of trading tools. And I use it in the simplest of ways. Anywhere I can see a clean 5 wave advance followed by a 3 wave pullback I see $ signs. This is because I know that more often than not there will be another 5 wave directional move. I do not deal with wxy or other complications - just the simple clear interpretations. It has worked pretty well for me so far Olu
Olu

I'm talking about forecasting and knowing where waves should end, the implications of how the lower degrees fit into the higher degrees that give you advantage. I know a lot of people use it the way you do and if it makes money that's good. Personally I'm not satisfied with that!
No I haven't got the wave structure wrong! I've corrected it!
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