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Elliott Wave Trading

  • #6,141
  • Nov 24, 2013 8:03am Nov 24, 2013 8:03am
My view on Daily EWC Aud/Usd
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  • #6,142
  • Nov 24, 2013 8:12am Nov 24, 2013 8:12am
Quoting HappyMe
Ian, I think I'm doing well with the counting now. At least I can follow your counting nicely But when I look to your counting then I noticed you are using another counting scheme as the original EW couting as viewed in the image. Where can I find the counting and color scheme you are using? I know it's just the way we discribe the counting but I think it makes all clearer and easier to follow if I/we confirm us with the scheme you are following. At least for me it is {image}
I don't use that EW counting style. I honestly don't see the need for it and is only there because of the confusion that CEW brings through extended waves, failed fifths, diagonal triangles and so on that really don't exist. With the HEW structure there is a consistent structure throughout and is therefore much easier to follow because the fractals must slot into each other. Look at the alternation video and you'll see how the fractals fit into each other.
No I haven't got the wave structure wrong! I've corrected it!
  • #6,143
  • Nov 24, 2013 12:18pm Nov 24, 2013 12:18pm
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  • #6,144
  • Nov 24, 2013 8:28pm Nov 24, 2013 8:28pm
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  • #6,145
  • Nov 25, 2013 11:12pm Nov 25, 2013 11:12pm
Quoting Ian Copsey
{quote} "Now when a powerful central bank like BOJ intervenes in the market with brute force like this, the market is no more a true market right? This shall bring down the accuracy of Elliott waves at least in lower fractals (time frames) right?" I just had another look at this statement. ............ So I disagree about central banks intervening implying the market has broken down. It IS the market and I don't see any impact by central banks altering things apart from temporarily - a different corrective pattern, a stronger impulsive projection...
Wanted to ask you one important point.... Some where I found that now more than 30% trade in market are done by Algo trades (machines).
Won't this affect EWT at least in smaller time frames?
Pied
  • #6,146
  • Nov 26, 2013 12:43am Nov 26, 2013 12:43am
Quoting Pied Piper
{quote} Wanted to ask you one important point.... Some where I found that now more than 30% trade in market are done by Algo trades (machines). Won't this affect EWT at least in smaller time frames? Pied
Nope! I never find that. I see the common projection clusters are valid from the 1 minute charts up to the monthly charts. What's more they have been valid as far back as the history I have. For sure, the lower the time frame, the greater the noise, and that sometimes makes interpretation quite difficult. My core analysis is done on 5-minute charts and occasionally with very, very sharp moves I go into the 1 minute just to clarify. At the end of the day, normally (not all the time) there is always a target and once you know where that is roughly you'll have a general idea where the first moves should reach, match them up to the prior structure (which can tell you a lot) and therefore have an idea of what to expect.
No I haven't got the wave structure wrong! I've corrected it!
  • #6,147
  • Nov 26, 2013 5:56am Nov 26, 2013 5:56am
Quoting Ian Copsey
{quote} Nope! I never find that. I see the common projection clusters are valid from the 1 minute charts up to the monthly charts. What's more they have been valid as far back as the history I have. For sure, the lower the time frame, the greater the noise, and that sometimes makes interpretation quite difficult. My core analysis is done on 5-minute charts and occasionally with very, very sharp moves I go into the 1 minute just to clarify. At the end of the day, normally (not all the time) there is always a target and once you know where that is...

Hi Ian and PP,

my observation is, that since the algos have discovered Forex markets also, the structure of the waves, especially on very low TF, have become hard to interpret, because of much more occurrence of overlapping wave behavior.

It may be only coincidence, but that is my feeling. I can not quantify or verify my observations yet. Have not done enough research for this. Just my observation/gut feeling
  • #6,148
  • Nov 26, 2013 6:08am Nov 26, 2013 6:08am
Quoting infinitus
{quote} Hi Ian and PP, my observation is, that since the algos have discovered Forex markets also, the structure of the waves, especially on very low TF, have become hard to interpret, because of much more occurrence of overlapping wave behavior. It may be only coincidence, but that is my feeling. I can not quantify or verify my observations yet. Have not done enough research for this. Just my observation/gut feeling
Probably in CEW but not in HEW... The example of the 5-wave rally in EURUSD last week is one such example. It's complex but all fractals have correct ratios.
No I haven't got the wave structure wrong! I've corrected it!
  • #6,149
  • Nov 26, 2013 12:24pm Nov 26, 2013 12:24pm
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  • #6,150
  • Nov 26, 2013 2:27pm Nov 26, 2013 2:27pm
Quoting Grigoriy
{image}

i am interested to know why there is A B C in red color and (4) (5) in blue?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,151
  • Nov 26, 2013 2:36pm Nov 26, 2013 2:36pm
Quoting ud1nh0
{quote} i am interested to know why there is A B C in red color and (4) (5) in blue?
4 and 5 in blue are the lesser degree counts of the end of the higher degree impulse wave 1 green from 1.38x
a b and c in blue are the lesser degree parts of the higher degree wave 2 green
a b and c in red are the lesser lesser degree of the blue b wave.
the red 12345 are the lesser lesser degree waves of the lesser degree blue c

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #6,152
  • Nov 26, 2013 2:37pm Nov 26, 2013 2:37pm
Quoting Grigoriy
{image}
Nice count
Those who say it cannot be done should not interrupt those who are doing it
  • #6,153
  • Nov 26, 2013 2:55pm Nov 26, 2013 2:55pm
Quoting PipTrapper
{quote} 4 and 5 in blue are the lesser degree counts of the end of the higher degree impulse wave 1 green from 1.38x a b and c in blue are the lesser degree parts of the higher degree wave 2 green a b and c in red are the lesser lesser degree of the blue b wave. the red 12345 are the lesser lesser degree waves of the lesser degree blue c {image}

oh, so its b blue flat.
that edt, why the wave 1 is longer than other?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,154
  • Nov 26, 2013 3:00pm Nov 26, 2013 3:00pm
Quoting ud1nh0
{quote} oh, so its b blue flat. that edt, why the wave 1 is longer than other?
I'm more interested in how the count will morph when GBP gets above 1.6259 and EUR above 1.3578...
No I haven't got the wave structure wrong! I've corrected it!
  • #6,155
  • Nov 26, 2013 3:10pm Nov 26, 2013 3:10pm
Quoting Ian Copsey
{quote} I'm more interested in how the count will morph when GBP gets above 1.6259 and EUR above 1.3578...
Euro above 3578 extends the wave 2 green correction with another abc flat or zigzag, or even a 33333 (abcde) triangle.
Only a breach of 1.3830 invalidates the count.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,156
  • Nov 26, 2013 3:13pm Nov 26, 2013 3:13pm
Quoting ud1nh0
{quote} oh, so its b blue flat. that edt, why the wave 1 is longer than other?
ending diagonal triangle = edt
Those who say it cannot be done should not interrupt those who are doing it
  • #6,157
  • Nov 26, 2013 3:24pm Nov 26, 2013 3:24pm
Quoting Grigoriy
{image}
EDTs are pretty rare. I don't understand why it would be in this position.
  • #6,158
  • Nov 26, 2013 3:42pm Nov 26, 2013 3:42pm
Quoting iwavetrade
{quote} EDTs are pretty rare. I don't understand why it would be in this position.

EDT are not rare, LDT are rare

especially in Forex you will see EDT relatively often
  • #6,159
  • Nov 26, 2013 4:05pm Nov 26, 2013 4:05pm
Quoting PipTrapper
{quote} ending diagonal triangle = edt

Oh... I'll wait for that then...
No I haven't got the wave structure wrong! I've corrected it!
  • #6,160
  • Nov 26, 2013 4:26pm Nov 26, 2013 4:26pm
Quoting Ian Copsey
{quote} I'm more interested in how the count will morph when GBP gets above 1.6259 and EUR above 1.3578...

But sometimes traders have come to a conclusion and place a trade


this one is for the case that the high at 3577 does give way
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