Someone shared with me this vision of EURUSD {image}
Elliott Wave for optimum entry, exit and risk management of trades
- #6,761
- May 9, 2014 12:33am May 9, 2014 12:33am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
- #6,763
- May 9, 2014 8:50am May 9, 2014 8:50am
- Joined Mar 2010 | Status: FUNDAMENTAL IS EVERYTHING | 1,877 Posts
THERE IS NO SYSTEM
- #6,766
- Edited 11:47pm May 9, 2014 10:50pm | Edited 11:47pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Tracking GBPUSD to complete the advance. - I think EW is the finest trading tool for picking tops and bottoms.
Good to see this thread alive and kicking (here means: to give thought or consideration to; ponder or discuss; to object; stimulating; sudden striking surprise or a twist; to contribute; obsessive interest) again!
Good to see this thread alive and kicking (here means: to give thought or consideration to; ponder or discuss; to object; stimulating; sudden striking surprise or a twist; to contribute; obsessive interest) again!
Elliott Wave for optimum entry, exit and risk management of trades
- #6,768
- May 10, 2014 7:03am May 10, 2014 7:03am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} Please show the chart that shows the trend line. Also please ensure that the trend line follows the definition of a downtrend: Lower lows and lower highs...
Elliott Wave for optimum entry, exit and risk management of trades
- #6,770
- Edited 9:39pm May 10, 2014 9:06pm | Edited 9:39pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Elliott Wave for optimum entry, exit and risk management of trades
- #6,771
- Edited 6:55pm May 11, 2014 6:43pm | Edited 6:55pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
USDCAD is doing a move from the original R.N. Elliott himself - a correction retracing to the travel of minor wave (ii) of the extended 5th wave. It is beautiful !
ref. The Major Works of R.N. Elliott p. 136
ref. The Major Works of R.N. Elliott p. 136
Elliott Wave for optimum entry, exit and risk management of trades
{quote} Thank you for pointing it out. May be I should call it a channel line? Always like to get you view.............what's your view on EURUSD? I'm an experienced 'newbie'..............always learning!
P.S. There are no such things as extended waves!
No I haven't got the wave structure wrong! I've corrected it!
- #6,774
- Edited 9:48pm May 12, 2014 8:46pm | Edited 9:48pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} I think others on here have pointed out - and I agree - that from the 1.23-ish low way back that we're seeing the end of an irregular triangle. P.S. There are no such things as extended waves!
There's weight in what you say, since u are a well practiced wave analyst. I've been quiet and holding breathe, awaiting your explanation for what you say, may be other are, too.
For example, your statement "There are no such things as extended waves!"
Yes, there might not be any extended waves in your book (or method), or may be you have a different name for extended waves; while there are extended EW : I can find extended waves in Elliott Wave patterns, measured and traded with in many major markets.
You may have reasons for it, but if you do not explain what you mentioned: it only cause confusion and invalidates people using EW and discourage new comers learning EW, let alone wanting to know your method.
However, if you think your method is different and distinct from EW, may be you need to change names to 'Copsey Waves' or something like that and start new forum thread to set yourself apart from Elliott Waves. Then there's no confusion for 'newbee's like myself that I'm learning something new and not something contradicting.
A constructive view from a 'newbee' like myself.
Elliott Wave for optimum entry, exit and risk management of trades
- #6,776
- May 13, 2014 5:59am May 13, 2014 5:59am
- Joined Mar 2010 | Status: FUNDAMENTAL IS EVERYTHING | 1,877 Posts
THERE IS NO SYSTEM
- #6,777
- Edited 8:00pm May 13, 2014 7:20pm | Edited 8:00pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} I think others on here have pointed out - and I agree - that from the 1.23-ish low way back that we're seeing the end of an irregular triangle. P.S. There are no such things as extended waves!
I know you have a separate thread and read it before.
This is concerning your bold statements ........ on this thread :
"There are no such things as extended waves! "
"No I haven't got the wave structure wrong! I've corrected it!"
Look mate, I'm so sorry that you do not recognize extended waves and missed out so much. Even by the basic understanding of EW, that it is part of impulse wave, the most profitable and sort after part of the wave structure, that traders train themselves to setup trades for it and avoid being in sideway moving markets; and fundamental traders use market info to enter trades also on such directional moves.
Just flipping over trading charts, I can see examples of extended impulse waves in all major markets, long or short term in the past, and I have setups for these waves whether they are extended or not extended in the future. And EW is such a great tool for it.
I enjoyed reading charts on this thread and see traders doing the above successfully.
Even computer trading platforms are programmed with Elliott Waves to help traders to do the work; with minor adjustment, one can have better entry, exit and management of trades.
It is your business in correcting the wave structure ( assuming your are talking about Elliott Wave structure) that is working well as a trading tool, into something else.
While I do learn things every day and learn with discretion.
Sorry guys, back to the charts!
Elliott Wave for optimum entry, exit and risk management of trades
- #6,779
- May 14, 2014 2:56am May 14, 2014 2:56am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} Are possible these scenarios, considering the speed with which they cut the line 2-4? {image}
Elliott Wave for optimum entry, exit and risk management of trades
