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Elliott Wave Trading

  • #6,301
  • Dec 3, 2013 1:26am Dec 3, 2013 1:26am
im watching last 3560 to invalidate something
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,302
  • Dec 3, 2013 8:16am Dec 3, 2013 8:16am
Hi,

I'am reading/studing the book "Harmonic Elliot wave".
It's clear that the 3 rules from CEW are still valid. But for me it's not clear which guidlines of CEW are still valid...

Can we still use all the guidlines prechter is given in his book? and add them with the additional guidlines from the "Harmonic Elliot Wave" book?
You can manage risk, but you can't manage the return
  • #6,303
  • Dec 3, 2013 8:27am Dec 3, 2013 8:27am
Quoting HappyMe
Hi, I'am reading/studing the book "Harmonic Elliot wave". It's clear that the 3 rules from CEW are still valid. But for me it's not clear which guidlines of CEW are still valid... Can we still use all the guidlines prechter is given in his book? and add them with the additional guidlines from the "Harmonic Elliot Wave" book?

i don't pollow pretcher book.which guideline u like on cew?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,304
  • Dec 3, 2013 8:33am Dec 3, 2013 8:33am
Quoting ud1nh0
{quote} i don't pollow pretcher book.which guideline u like on cew?
Well I know, I also don't follow CEW. But I thought that the rules for HEW were the same, and the guidlines are nearly the same... (but I can't figure out which giudlines we has to follow) It's just the counting that is changed in HEW.

Or am I wrong? In that case what rules and guidelines are you following for determining the waves, zig-zags, triangles etc..
You can manage risk, but you can't manage the return
  • #6,305
  • Dec 3, 2013 8:42am Dec 3, 2013 8:42am
Quoting HappyMe
Hi, I'am reading/studing the book "Harmonic Elliot wave". It's clear that the 3 rules from CEW are still valid. But for me it's not clear which guidlines of CEW are still valid... Can we still use all the guidlines prechter is given in his book? and add them with the additional guidlines from the "Harmonic Elliot Wave" book?
As i understand from its book and questions asked to Ian on this forum I have following conclusions;

- Not all three rules of CEW is true in HEW. Impulses are not 5 waves. They are three waves where A and C waves are consist of 5 waves.
- Alternation of Wave 2 and 4 are still in place but with the addition of Wave B of Wave 3
- Failed 5th wave is in different form where it go beyond Wave 3 but with lower ratiof of Wave1 wave 3 distance (instead of %50 for example %41.4 etc.)
- Beginning and ending diagonals are not special exceptions in HEW
  • #6,306
  • Dec 3, 2013 8:44am Dec 3, 2013 8:44am
I think we now have this counting...

We are now in maybe wave iv (blue)
We are retracing now... after the small correction is complete we may heading op to finish the wave (a) of wave (v) (orange)
Attached Image
You can manage risk, but you can't manage the return
  • #6,307
  • Dec 3, 2013 8:49am Dec 3, 2013 8:49am
Quoting HappyMe
{quote} Well I know, I also don't follow CEW. But I thought that the rules for HEW were the same, and the guidlines are nearly the same... (but I can't figure out which giudlines we has to follow) It's just the counting that is changed in HEW. Or am I wrong? In that case what rules and guidelines are you following for determining the waves, zig-zags, triangles etc..

i don't know. i only read guideline if the pattern show. like iwavetrade said, expanding triangle cannot be in c or wave v. or expanding triangle cannot be fully retraced by the next pattern.or expanding triangle cannot be positioned before / after something.
rising wedge target min 0.75 of widest wave, but yesterday it fail. (coz its structure not 3-3-3 just a fluke of drawing hahaha)
sometime the guideline is not filled.
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,308
  • Dec 3, 2013 8:54am Dec 3, 2013 8:54am
Quoting ud1nh0
{quote} i don't know. i only read guideline if the pattern show. like iwavetrade said, expanding triangle cannot be in c or wave v. or expanding triangle cannot be fully retraced by the next pattern.or expanding triangle cannot be positioned before / after something. rising wedge target min 0.75 of widest wave, but yesterday it fail. (coz its structure not 3-3-3 just a fluke of drawing hahaha) sometime the guideline is not filled.
Oke...but what guidelines are you reading then? Where do you find them? Only with the Harmonic wave book or also with the Prechter book?
You can manage risk, but you can't manage the return
  • #6,309
  • Dec 3, 2013 8:57am Dec 3, 2013 8:57am
My count

Attached Image (click to enlarge)
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  • #6,310
  • Dec 3, 2013 8:59am Dec 3, 2013 8:59am
Quoting Almondeyed
{quote} As i understand from its book and questions asked to Ian on this forum I have following conclusions; - Not all three rules of CEW is true in HEW. Impulses are not 5 waves. They are three waves where A and C waves are consist of 5 waves. - Alternation of Wave 2 and 4 are still in place but with the addition of Wave B of Wave 3 - Failed 5th wave is in different form where it go beyond Wave 3 but with lower ratiof of Wave1 wave 3 distance (instead of %50 for example %41.4 etc.) - Beginning and ending diagonals are not special exceptions in...
That's correct indeed!
But Prechter or Elliot was making a huge guidline manifest.....as noted in the Prechters book. Are they also valid (with the notes you made)

Actually I like to create/have a paper where I can collect all the (changed) guidelines. So that I can use this as a sort of manifest when I'm looking to the charts
You can manage risk, but you can't manage the return
  • #6,311
  • Dec 3, 2013 9:08am Dec 3, 2013 9:08am
Quoting HappyMe
{quote} Oke...but what guidelines are you reading then? Where do you find them? Only with the Harmonic wave book or also with the Prechter book?

i am reading a bit mastering elliott wave by glen neely. but not all pages. im a lazy reader. prechter book, im seeing inside..but i feel neely's book is more enough (which is means enuf to make my head dizzy).
ian book's has different views.
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,312
  • Dec 3, 2013 9:09am Dec 3, 2013 9:09am
Quoting HappyMe
{quote} That's correct indeed! But Prechter or Elliot was making a huge guidline manifest.....as noted in the Prechters book. Are they also valid (with the notes you made) Actually I like to create/have a paper where I can collect all the (changed) guidelines. So that I can use this as a sort of manifest when I'm looking to the charts
There are further guidelines written by Balan... But because I left CEW some time ago I forgot what were them.

About guidelines I agree the idea of triangles are the last step before reversal top/bottom... I read a statistic in a book written in 1950's or 40's.. So it is not a something new that came with EWT.

Trust is something commonly known in chart pattern studies if we assume triangle is a kind of flag or pennant pattern...

Fibonacci relationships are commonly known phenomenon

Ending/beginning diagonals are wedge chart pattern... When it is broken a quick move to its beginning point is likely.

So I think all there guidelines are well known chart pattern guidelines and they are valid.
  • #6,313
  • Dec 3, 2013 9:12am Dec 3, 2013 9:12am
identify wave:
-MACD line setting as u fit on some timeframe
-fibo relationship
-movement angle (as iwavetrade said)
-time of movement ?
-pattern segment 5 trend 3 corrective (which is very dependant on how to identify wave segment)
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,314
  • Dec 3, 2013 9:18am Dec 3, 2013 9:18am
Quoting Almondeyed
{quote} There are further guidelines written by Balan... But because I left CEW some time ago I forgot what were them. About guidelines I agree the idea of triangles are the last step before reversal top/bottom... I read a statistic in a book written in 1950's or 40's.. So it is not a something new that came with EWT. Trust is something commonly known in chart pattern studies if we assume triangle is a kind of flag or pennant pattern... Fibonacci relationships are commonly known phenomenon Ending/beginning diagonals are wedge chart pattern... When...
Thanks,

Balan? He is also practicing the CEW or?
You can manage risk, but you can't manage the return
  • #6,315
  • Dec 3, 2013 9:22am Dec 3, 2013 9:22am
Quoting HappyMe
{quote} Thanks, Balan? He is also practicing the CEW or?

Yes, Robert Balan... Yes he practices with CEW too
  • #6,316
  • Dec 3, 2013 9:22am Dec 3, 2013 9:22am
this is funny, a three wave move of 5-3-5 that exceed 100 expansion. mostly become 1 segment...it's a fact after i learn the movement
any 5-3-5 hit 1.61/200 usually bounce then resume
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,317
  • Dec 3, 2013 12:09pm Dec 3, 2013 12:09pm
Quoting HappyMe
Hi, I'am reading/studing the book "Harmonic Elliot wave". It's clear that the 3 rules from CEW are still valid. But for me it's not clear which guidlines of CEW are still valid... Can we still use all the guidlines prechter is given in his book? and add them with the additional guidlines from the "Harmonic Elliot Wave" book?
CEW rules remain the same:
Wave 2 will not move below/above the start of Wave 1
Wave 3 will never be the shortest of Waves 1, 3 & 5
The extremes of Wave 1 and Wave 4 will never overlap
Plus HEW rule:

Wave (iv) will not break the Wave (b) of Wave (iii) and normally not get close (Ref: Alternation)


Elliott guidelines:
If Wave 2 is complex then Wave 4 will be simple & vice versa
Following a Wave B in a corrective ABC structure price will retest the prior Wave B
(After completion of an extended Wave (5) the first retracement will return to the extreme of the Wave 2 of Wave (5) - not relevant)
Plus HEW guidelines

If Wave (ii) is shallow then Wave (iv) will be deep and vice versa

After completion of a Wave (v) price will return to the span of the prior Wave (b) of Wave (v)


Diagonal triangles or expanding triangles (in an impulsive sequence) and failed fifths do not exist. They are merely reflections of the wrong structure. To me, because they are comprised of 3-wavev structures, they are part of HEW.


No I haven't got the wave structure wrong! I've corrected it!
  • #6,318
  • Dec 3, 2013 12:13pm Dec 3, 2013 12:13pm
Quoting ud1nh0
identify wave: -MACD line setting as u fit on some timeframe -fibo relationship -movement angle (as iwavetrade said) -time of movement ? -pattern segment 5 trend 3 corrective (which is very dependant on how to identify wave segment)
Price only... and with ratios relevant to that wave...
As far as I can see there is no time factor in EW. That has to be determined by other means. EW/HEW is a price indicator only and should be used in conjunction with complementary indicators such as momentum, support & resistance, time indicators - whichever you find useful.
No I haven't got the wave structure wrong! I've corrected it!
  • #6,319
  • Edited 3:21pm Dec 3, 2013 3:08pm | Edited 3:21pm
Hi,

In this threath I noticed that both the CEW and the HEW is discussed. I think that is a little confusing sometimes, well at least I think it is

You look to charts and then you noticed it is the CEW. Besides that one person is telling and explaining the CEW countings rules and guidelines etcetc and the other is telling about his HEW guidelines etc, etc... Well because of this confusions I thought it would be great to create a new threath, so I did : "Harmonic Elliott Wave (HEW)"

You can find the threath at http://www.forexfactory.com/showthre...16#post7132316

Anybody who like to talk, discuss and want to master HEW like me...then please have a look and participate in this new threath and learn from eachother!! You are ofcourse all invited!
You can manage risk, but you can't manage the return
  • #6,320
  • Dec 3, 2013 3:17pm Dec 3, 2013 3:17pm
Quoting Ian Copsey
{quote} CEW rules remain the same: Wave 2 will not move below/above the start of Wave 1 Wave 3 will never be the shortest of Waves 1, 3 & 5 The extremes of Wave 1 and Wave 4 will never overlap Plus HEW rule: Wave (iv) will not break the Wave (b) of Wave (iii) and normally not get close (Ref: Alternation) Elliott guidelines: If Wave 2 is complex then Wave 4 will be simple & vice versa Following a Wave B in a corrective ABC structure price will retest the prior Wave B (After completion of an extended Wave (5) the first retracement will return to the...
Thank you Ian!
You can manage risk, but you can't manage the return
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