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Elliott Wave Trading

  • #6,381
  • Dec 7, 2013 12:14pm Dec 7, 2013 12:14pm
Quoting Ian Copsey
{quote} Because that's how to denote a corrective wave within multiple abc patterns.... That decline was a triple three...
Ian, I'm curious if your stuff becomes more popular how it will change the structure of the market.

I recall Neely explaining how triple corrections ended in triangles, but since has changed that position since the market had changed compared to almost 30 years ago.
  • #6,382
  • Dec 7, 2013 12:31pm Dec 7, 2013 12:31pm
Quoting iwavetrade
{quote} Ian, I'm curious if your stuff becomes more popular how it will change the structure of the market. I recall Neely explaining how triple corrections ended in triangles, but since has changed that position since the market had changed compared to almost 30 years ago.
Interesting question. As a background I have noted the ratios are present right from the 1 minute charts through monthly. I have always been fascinated by the fact the market has always followed that pattern of ratios throughout.

Not because it's anywhere near popular enough but I have noted occasional preferences for particular Wave (iii) moves. I used to see 223.6% quite a bit but then switched to more 238.2%. The U.S. Indices used to be normal projections though tended more often to see 461.8% at the extreme. Recently I've seen whacky 661.8%, 761.8% which seems to basically reflect the heady nature of the market in following QE.

I suspect, and hope, that if there is any change it will be more the (unconscious) preference for a group of Wave (iii) projections, perhaps Wave (v) also, perhaps a greater instance of deeper/shallower Wave (b)'s within the impulse sequence.
No I haven't got the wave structure wrong! I've corrected it!
  • #6,383
  • Dec 7, 2013 1:47pm Dec 7, 2013 1:47pm
Quoting Ian Copsey
{quote} Interesting question. As a background I have noted the ratios are present right from the 1 minute charts through monthly. I have always been fascinated by the fact the market has always followed that pattern of ratios throughout. Not because it's anywhere near popular enough but I have noted occasional preferences for particular Wave (iii) moves. I used to see 223.6% quite a bit but then switched to more 238.2%. The U.S. Indices used to be normal projections though tended more often to see 461.8% at the extreme. Recently I've seen whacky...
Thank you for the response.

What do you believe is the most profitable and recognizable trade to make?

Last one for now, do you think the USDJPY rise is impulsive or an X wave? That was a gigantic rise.
  • #6,384
  • Dec 7, 2013 2:04pm Dec 7, 2013 2:04pm
Morning all, I love Elliot as much as you'll do. Here is a setup I'm watching in USD/CHF.

I like this pattern the Diagonal Triangle:

Pro

  1. You'll see that Wave 1 is the longest.
  2. Looks to be resolving in 5 waves.
  3. Strong Support coming in on the Daily.

Con

  1. Looks like EUR/USD may have a ways to go in its C wave.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfproh1.png Size: 39 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfprodaily.png Size: 45 KB


Let me know what you think.
  • #6,385
  • Dec 8, 2013 12:33am Dec 8, 2013 12:33am
Quoting iwavetrade
{quote} Thank you for the response. What do you believe is the most profitable and recognizable trade to make? Last one for now, do you think the USDJPY rise is impulsive or an X wave? That was a gigantic rise.
Best recognisable trade? Wave (iv)... as long as the Wave (iii) has been identified correctly. If it breaks then it implies that it hasn't been an impulsive move and therefore the trend will have reversed...

As for USDJPY - you have mail...
No I haven't got the wave structure wrong! I've corrected it!
  • #6,386
  • Dec 8, 2013 1:43am Dec 8, 2013 1:43am
after i look at your structure at downmove from 3832 (HEW version)
i re-examine my CEW version
im thinking of elongated flat with B top at 1.3813

so i was wrong thinking this as zigzag elongated

if this is elongated flat then can we call it ABC 3 move down corrective as b or as a part of big triangle leg?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,387
  • Dec 8, 2013 3:04am Dec 8, 2013 3:04am
Quoting ud1nh0
after i look at your structure at downmove from 3832 (HEW version) i re-examine my CEW version im thinking of elongated flat with B top at 1.3813 so i was wrong thinking this as zigzag elongated if this is elongated flat then can we call it ABC 3 move down corrective as b or as a part of big triangle leg?
now conflicting my mind
that downward movement from 3710.5 is 5 wave in my eyes..but in another chart is 3 wave...hummm
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,388
  • Dec 8, 2013 4:34am Dec 8, 2013 4:34am
Quoting ud1nh0
{quote} now conflicting my mind that downward movement from 3710.5 is 5 wave in my eyes..but in another chart is 3 wave...hummm
according gap, then 3710 to 2744 is 3 wave move then 2750 to 3830 is e wave of expanding triangle as b of flat.
resulting c failure at 3293, the uptrend starting that would be wave 3, becoz expanding triangle cannot be part of b wave of zigzag.
thus i will buy with small size, sl would be 1.3522 and 1.3391.
hummm
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,389
  • Dec 8, 2013 5:23am Dec 8, 2013 5:23am
gold wiev
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  • #6,390
  • Dec 8, 2013 6:53am Dec 8, 2013 6:53am
Quoting iwavetrade
{quote} Ian, I'm curious if your stuff becomes more popular how it will change the structure of the market. I recall Neely explaining how triple corrections ended in triangles, but since has changed that position since the market had changed compared to almost 30 years ago.
Sorry , http://www.forexfactory.com/showthre...97335&page=285 post 5689 . Neely are right , the market don't change .
  • #6,391
  • Dec 8, 2013 8:32am Dec 8, 2013 8:32am
Quoting ovidiu_gnt
{quote} Sorry , http://www.forexfactory.com/showthre...97335&page=285 post 5689 . Neely are right , the market don't change .

this one i try to label
that red cross is overlapping mark
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-oanda-division1.png Size: 38 KB
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,392
  • Edited 5:24pm Dec 8, 2013 5:02pm | Edited 5:24pm
according to HEW this gap maybe because wave c of v?
i is 3613, iii is 3677, v is here after gap
someone told me that gap usually created on 3rd segment automatic market order execution. i don't know what's that means.
a sell should be watching a fibonacci 200 draw backward from wave b of iii 3638-3542 coz flat formed ?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,393
  • Dec 8, 2013 6:02pm Dec 8, 2013 6:02pm
Quoting ud1nh0
according to HEW this gap maybe because wave c of v? i is 3613, iii is 3677, v is here after gap someone told me that gap usually created on 3rd segment automatic market order execution. i don't know what's that means. a sell should be watching a fibonacci 200 draw backward from wave b of iii 3638-3542 coz flat formed ?

downtrend confirmation on 3706 overlapping or need the full structure?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,394
  • Dec 8, 2013 6:29pm Dec 8, 2013 6:29pm
Quoting ud1nh0
{quote} downtrend confirmation on 3706 overlapping or need the full structure?

looks like combination flat and zigzag from3523 till 3639 then connector at 3543, after this retrace only 38.2 this may create another high other than 3720
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,395
  • Edited 7:31pm Dec 8, 2013 7:10pm | Edited 7:31pm
uj , i only identified a b flat
edit: added furthermore
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdjpy-h4-oanda-division1.png Size: 41 KB
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,396
  • Edited 10:33pm Dec 8, 2013 9:21pm | Edited 10:33pm
Quoting ud1nh0
{quote} looks like combination flat and zigzag from3523 till 3639 then connector at 3543, after this retrace only 38.2 this may create another high other than 3720
Pre-retail broker trading late Sunday saw a high at 1.3742... The structure is not the easiest to call but from USDCHF I think that we've seen Wave [a] and are now in Wave [ b ].
No I haven't got the wave structure wrong! I've corrected it!
  • #6,397
  • Dec 10, 2013 1:17am Dec 10, 2013 1:17am
Quoting Ian Copsey
Failure to reach 1.3684 was a bit of a disappointment but I guess 7 points away isn't too bad. Nice drop into the Wave [iv] retracement area as mentioned above and now we're now moving higher in Wave [a] of Wave [v]. This is the more difficult part as we will have to judge how far this will go based on Wave [v] projections but without any matching higher degree projections there's no real concrete target. I could quote them but would prefer to observe the development. At this early stage the Wave [a] of Wave [v] looks like it could reach around...
Looks like my first estimate above was right... Wave [a] seen and now a pullback in Wave [ b ]
No I haven't got the wave structure wrong! I've corrected it!
  • #6,398
  • Dec 10, 2013 3:42am Dec 10, 2013 3:42am
added chart, please correct me if its not terminal impulse or edt.
and tell me reason..
edt formed 3-3-3-3-3 or random?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-oanda-division1.png Size: 48 KB
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #6,399
  • Dec 10, 2013 4:32am Dec 10, 2013 4:32am
Quoting ud1nh0
added chart, please correct me if its not terminal impulse or edt. and tell me reason.. edt formed 3-3-3-3-3 or random? {image}
No , it isn't a terminal impulse . You marked wave-d , wave-e in an expanded triangle and impulse wave 5 . http://www.forexfactory.com/showthre...97335&page=284 post 5670 .
  • #6,400
  • Dec 10, 2013 4:44am Dec 10, 2013 4:44am
Quoting ovidiu_gnt
{quote} No , it isn't a terminal impulse . You marked wave-d , wave-e in an expanded triangle and impulse wave 5 . http://www.forexfactory.com/showthre...97335&page=284 post 5670 .

oh. i have low level confidence too coz formed not 3-3-3-3-3
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
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