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  • #9,301
  • Nov 28, 2013 4:54pm Nov 28, 2013 4:54pm
Quoting Luis Carlos
{quote} because A is in 3 waves.

I am not satisfied

Then shall we not label it ABC?
  • #9,302
  • Nov 28, 2013 7:59pm Nov 28, 2013 7:59pm
Quoting infinitus
{quote} I am not satisfied Then shall we not label it ABC?
of course is abc = A
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #9,303
  • Nov 29, 2013 8:58am Nov 29, 2013 8:58am
Guys

What do you think about this chart?. I have not put labels on it but you will get the jist of what I am getting at. Is it ok or complete tosh?
Attached Image
If you think you can or cannot do it you are correct
  • #9,304
  • Nov 29, 2013 3:37pm Nov 29, 2013 3:37pm
Quoting Olu
Guys What do you think about this chart?. I have not put labels on it but you will get the jist of what I am getting at. Is it ok or complete tosh? {image}
UP
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #9,305
  • Nov 30, 2013 4:35pm Nov 30, 2013 4:35pm
Quoting Luis Carlos
{quote} UP

Hi LC

Can you elaborate on your comment 'UP' please

Olu
If you think you can or cannot do it you are correct
  • #9,306
  • Nov 30, 2013 5:50pm Nov 30, 2013 5:50pm
Quoting Olu
{quote} Hi LC Can you elaborate on your comment 'UP' please Olu
I think he means "UP" vs "DOWN AND UP"

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #9,307
  • Nov 30, 2013 6:02pm Nov 30, 2013 6:02pm
Quoting PipTrapper
{quote} I think he means "UP" vs "DOWN AND UP" {image}

Thanks PipTrapper for the clarification. I am bullish the US$ long term but the question is whether the recent downmove is over @80.50 or we have a bit more to go. By the way I like the way you recycled my chart. That 80.50 line is such a good place for a turn upwards

Olu
If you think you can or cannot do it you are correct
  • #9,308
  • Dec 1, 2013 4:53am Dec 1, 2013 4:53am
Hi fellow elliotters,

I m glad that a thread like this exists.
I learning ew.I observed that the count on the
weekly chart of GBP/USD showed a triangle for wave 4.

Thus,its completing A-B-C-D-E pattern.
On the daily, I think we are in the final
thrust up for a wave 5,after which we would
correct to the down side and proceed lower
for wave 5 in the weekly.

Your opinions would be cherished.
Thanks.
  • #9,309
  • Dec 1, 2013 6:30am Dec 1, 2013 6:30am
Quoting jchidolue
Hi fellow elliotters, I m glad that a thread like this exists. I learning ew.I observed that the count on the weekly chart of GBP/USD showed a triangle for wave 4. Thus,its completing A-B-C-D-E pattern. On the daily, I think we are in the final thrust up for a wave 5,after which we would correct to the down side and proceed lower for wave 5 in the weekly. Your opinions would be cherished. Thanks.
If you replaced the higher degree wave 4 and wave 5 with B and C, then I think you are on the right track, as the corrective abcde triangle is far too long in time relative to the prior impulse move to qualify as a wave 4.

At least it is a probability anyway. There are alternates, but this is what I am watching at the moment.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 73 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #9,310
  • Dec 1, 2013 7:46am Dec 1, 2013 7:46am
Hi piptrapper,

I concur with your post.irresepective of our
Lettering or numbering,we have a downward
bias as the next leg.
I m waiting for the completion of the thrust
on the daily chart.I can't wait to ride it all the way to
the end of the triangle.

By labeling the triangle as B,we are anticipating C,which would go beyond the end of A.
  • #9,311
  • Dec 1, 2013 8:50am Dec 1, 2013 8:50am
Quoting jchidolue
Hi piptrapper,

I concur with your post.irresepective of our
Lettering or numbering,we have a downward
bias as the next leg.
I m waiting for the completion of the thrust
on the daily chart.I can't wait to ride it all the way to
the end of the triangle.

By labeling the triangle as B,we are anticipating C,which would go beyond the end of A.
Well at least till the end of A, but it is not required to keep going

Also the abcde triangle can morph into an upside extended correction (wxy)

We just have to watch how it unfolds. As long as the high of the triangle c wave is not breached, it is still a triangle.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,312
  • Dec 1, 2013 9:26am Dec 1, 2013 9:26am
I was doing a lot of elliot back in 2008-9-10. Nice days but it is hard to achive even 50/50 win ratio with elliot principle. it is almost a coin flliping...
  • #9,313
  • Dec 1, 2013 12:54pm Dec 1, 2013 12:54pm
Quoting TravoltaImp
I was doing a lot of elliot back in 2008-9-10. Nice days but it is hard to achive even 50/50 win ratio with elliot principle. it is almost a coin flliping...
Yeah 50/50 is pretty much what you'd get out of any system (including EW) if you are only relying on it exclusively.
Confirmation via confluence is the key.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,314
  • Dec 1, 2013 4:52pm Dec 1, 2013 4:52pm
Quoting PipTrapper
{quote} Yeah 50/50 is pretty much what you'd get out of any system (including EW) if you are only relying on it exclusively. Confirmation via confluence is the key.
what's your 2nd favourite tools to support EW decision?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,315
  • Dec 1, 2013 5:04pm Dec 1, 2013 5:04pm
Quoting ud1nh0
{quote} what's your 2nd favourite tools to support EW decision?
Moving Average Convergence & Divergence (MacD) and RSI/RSX for both momentum and divergence measurements.
Third favorite is fibo price and time measurements.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,316
  • Dec 1, 2013 5:06pm Dec 1, 2013 5:06pm
Quoting PipTrapper
{quote} Moving Average Convergence & Divergence (MacD) and RSI/RSX for both momentum and divergence measurements. Third favorite is fibo price and time measurements.

thx
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,317
  • Dec 2, 2013 2:31am Dec 2, 2013 2:31am
BITCOIN Elliott Wave Analysis

If somebody was lucky to buy BITCOIN when it was cheap I hope he does not have to see this chart to get out now even if this goes higher. This looks scary...
Attached Image (click to enlarge)
Click to Enlarge Name: BITICOIN(1)-Elliott Wave.png Size: 19 KB
  • #9,318
  • Dec 2, 2013 2:42am Dec 2, 2013 2:42am
i think there would be a profit taking on bt coin. bitcoin community itself trying to make this thing more popular and gaining more users (at higher price), when they fail to add more users..it price may collapse but bitcoin itself still exist. just my 2 cents
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,319
  • Dec 2, 2013 2:43am Dec 2, 2013 2:43am
Quoting elliottwave1
BITCOIN Elliott Wave Analysis If somebody was lucky to buy BITCOIN when it was cheap I hope he does not have to see this chart to get out now even if this goes higher. This looks scary... {image}
Yep. Has potential to melt down to $250 before the next surge.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,320
  • Dec 2, 2013 2:45am Dec 2, 2013 2:45am
Quoting ud1nh0
i think there would be a profit taking on bt coin. bitcoin community itself trying to make this thing more popular and gaining more users (at higher price), when they fail to add more users..it price may collapse but bitcoin itself still exist. just my 2 cents

Agree.

Traders who are long on Bitcoin should take profit or at least have to lock in profit.
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