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Elliott Wave Trading

  • #7,121
  • Nov 23, 2014 6:59pm Nov 23, 2014 6:59pm
Quoting taxbitter
@ottmnslap thanks! Another beginner question. I made two scenario Setup A & B. I know Setup A is valid but on Setup B I'm a bit confused if it's valid as wave "a" of triangle wave 4 overlaps with the price territory wave 1. Thanks in advance! {image}
In R.N.Elliott Wave not valid. Any other Waves, why not make UR own rules.
  • #7,122
  • Nov 23, 2014 7:00pm Nov 23, 2014 7:00pm
Quoting taxbitter
Hi! elliott wave beginner here... is my wave count correct? tnx in advance. {image}
No.
  • #7,123
  • Nov 23, 2014 7:37pm Nov 23, 2014 7:37pm
I guess we all know the rule 4 should not overlap 2 but take it easy and accept the fact that trading technology has changed since early 1900 and people react to all kind of news in front of their screen as it happens. I will remind you R.N Elliott himself used line charts. Try reading Major Works of R.N Elliott and look at how flexible he is himself when counting. If there is an overlap he just counting it as abcde. If he did like that i don't give a damn thing what others after him did. Otherwise it's just pathologic to use elliott wave at all nothing is perfect. And this comes from an elliott fanatic.
  • #7,124
  • Nov 24, 2014 5:03am Nov 24, 2014 5:03am
Quoting 4xpol
{quote} No.
Hi 4xpol,

Thanks for your feedback. Would you be kind to share the correct count. Hope it would be ok with you.

Thanks!

Cheers!
  • #7,125
  • Nov 24, 2014 5:13am Nov 24, 2014 5:13am
Quoting ottmnslap
I guess we all know the rule 4 should not overlap 2 but take it easy and accept the fact that trading technology has changed since early 1900 and people react to all kind of news in front of their screen as it happens. I will remind you R.N Elliott himself used line charts. Try reading Major Works of R.N Elliott and look at how flexible he is himself when counting. If there is an overlap he just counting it as abcde. If he did like that i don't give a damn thing what others after him did. Otherwise it's just pathologic to use elliott wave at all...
I have to agree on you with this.... Frost and Prechter on "Elliott Wave Principle" uses line charts on their examples. Below is one of their examples.
Attached Image (click to enlarge)
Click to Enlarge Name: Image 1.png Size: 51 KB
  • #7,126
  • Nov 24, 2014 5:21am Nov 24, 2014 5:21am
EWT is useless because only three rules which cause chaos. In every market you can find several bullish, bearish and side-lines alternative counts at the same time. That's why it is always works but not helpful for traders.... That's why it was popular in 80's, but now only used by only few beginners....

If you eliminate one of these three rules with such things, your counts will be more shaped by your emotions and hopes more then objective rules... (Actually even with these three rules it is shaped by emotions and hopes more then facts)
  • #7,127
  • Edited Nov 25, 2014 1:37am Nov 24, 2014 5:25am | Edited Nov 25, 2014 1:37am
Quoting taxbitter
Hi! elliott wave beginner here... is my wave count correct? tnx in advance. {image}
Hi! A possibility! Wave W can be A or 1(more likely).
Attached Image (click to enlarge)
Click to Enlarge Name: Numerotare NZD-USD.png Size: 63 KB
  • #7,128
  • Nov 24, 2014 5:26am Nov 24, 2014 5:26am
@Almondeyed Thanks for your input Sir! What strategy you're using then if you don't mind!

Thanks!

Cheers!
  • #7,129
  • Nov 24, 2014 5:31am Nov 24, 2014 5:31am
Quoting taxbitter
@Almondeyed Thanks for your input Sir! What strategy you're using then if you don't mind! Thanks! Cheers!


Anything can be

But if you are addicted to wave count you can use Harmonic Elliott Wave (you can google it)... More mathematical rules and more projected targets...
  • #7,130
  • Nov 24, 2014 5:33am Nov 24, 2014 5:33am
Quoting ovidiu_gnt
{quote} Hi! A possibility! Wave W can be A. {image}
@ovidiu_gnt Thanks for your inputs.

Cheers!
  • #7,131
  • Nov 24, 2014 5:38am Nov 24, 2014 5:38am
Quoting taxbitter
{quote} I have to agree on you with this.... Frost and Prechter on "Elliott Wave Principle" uses line charts on their examples. Below is one of their examples. {image}
Yes thats right, and to make things clear i didn't say the rule didn't exist but it is useless to look for the perfect 5-wave. If you want to find perfect 5-waves textbooks are the place to look not the markets. So it's just a practical advise.
  • #7,132
  • Nov 24, 2014 5:39am Nov 24, 2014 5:39am
Quoting taxbitter
@Almondeyed Thanks for your input Sir! What strategy you're using then if you don't mind! Thanks! Cheers!
The strategy can be just one. For the moment is downtrend (<0.7660) and after finishing wave c we have uptrend (>0.8845).
  • #7,133
  • Nov 24, 2014 5:51am Nov 24, 2014 5:51am
@ovidiu_gnt Thanks!

Cheers!
  • #7,134
  • Nov 28, 2014 12:02pm Nov 28, 2014 12:02pm
Quoting Almondeyed
{quote} Anything can be But if you are addicted to wave count you can use Harmonic Elliott Wave (you can google it)... More mathematical rules and more projected targets...
http://harmonicelliottwave.blogspot....-for-gold.html

Ian Copsey published a weekly GOLD outlook which is currently unfolding.
Cheers, U2
Wait, or you will be slaughtered!
  • #7,135
  • Nov 29, 2014 9:31am Nov 29, 2014 9:31am
2H GOLD Chart for Wave [C] Blue Down:
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 141129 2H[1] Spot Gold (-).png Size: 35 KB
Wait, or you will be slaughtered!
  • #7,136
  • Edited 10:18am Nov 29, 2014 9:53am | Edited 10:18am
15M GOLD Chart Wave iii Brown Down:
Still a long way to go.
A 376.4% projection for Wave iii Brown: $1114.3
Cheers, U2

Edit: Minimum Target for a correction [up] would be $1163.20
[if the count is correct]
Looking to add to Shorts after the correction.
Attached Image (click to enlarge)
Click to Enlarge Name: 141129 15M[1] Spot Gold (-).png Size: 52 KB
Wait, or you will be slaughtered!
  • #7,137
  • Edited 10:44am Nov 29, 2014 10:32am | Edited 10:44am
GOLD 2DLY Chart:
Turn complete!
Leaves no doubt which way this is heading.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 141129 2DLY[1] Spot Gold (-).png Size: 66 KB
Wait, or you will be slaughtered!
  • #7,138
  • Nov 29, 2014 10:38am Nov 29, 2014 10:38am
GOLD MLY Chart:
Doji = Correction
Now trend can resume Down.
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 141129 MLY[1] Spot Gold (-).png Size: 70 KB
Wait, or you will be slaughtered!
  • #7,139
  • Dec 1, 2014 1:21am Dec 1, 2014 1:21am
Quoting Uturn2
{quote} http://harmonicelliottwave.blogspot....-for-gold.html Ian Copsey published a weekly GOLD outlook which is currently unfolding. Cheers, U2
Yes it turned from extreme bullish to extreme bearish in few months
  • #7,140
  • Dec 2, 2014 3:07am Dec 2, 2014 3:07am
http://harmonicelliottwave.blogspot....ly%20forecasts

UJ Weekly Outlook.
Cheers, U2
Wait, or you will be slaughtered!
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