Elliott Wave Trading

Just notice your post.

Besides the diagonal, wave 4 never overlap wave 1 in an impulse wave.
The situation must be in some form of a correction, have to go back a few more waves to determine where in the correction it is.
If it's not impulsive and not clear, it would still be in correction.

Oil/Cad almost there probably weeks imo, what you think?

thanks for your reply

it's clear usdcad is bullish so 1.427 is plausible

That WTI ending diagonal in my previous post may still play out imo. Close to a corrective D wave and then later on a last move lower.

Also triangle suggests last pop in EUR/CAD before correction. But reckon USD/CAD already in wave 4 of a larger wave 3 and last Friday wave A of 4 completed so tomorrow we will probably see wave C down in USD/CAD.

like your analysis dude

Eur


GBP

Eur
Var №2

I think Kiwi is going to turn south from here, maybe one more marginal high but probably already there. Then 2 scenario's I posted these charts in another thread a few days back.

http://www.forexfactory.com/showthre...24#post8661124

Watch triangle wave 4 and breakout of it on the attached 30min chart so I think from here on lower in a larger degree wave X or 3.

gbpusdH1
the potential w1 with abc
break out 1.49 with stop 1.48

AUDCHF looks about to break down also other pairs like EURAUD and GBPAUD point to more AUD weakness.

well done barkie,both trade were good

Thanks Paulse BTW that AUDCHF one is my favorite setup a large wave 1 and wave 2 and then a wave 1 and 2 of a smaller degree (wave 1 and 2 of the larger degree wave 3) capped by the trendline of the larger wave 2.

GBPAUD looks promising as well, ideally will pop out of flag then consolidate above the flag before take off.

WTI and an ending diagonal, i'm still a believer, one marginal stab lower then 3 waves back up. Could be, may be, why not !?

also audchf and euraud are nearly 100% negatively correlated (as eurusd and usdchf )

more up on Sugar Mar16 ?

Will USoil build Alt ABCD on that Flat ?

As Expansion
C = 2,0 A@26,90

As Extension
BC = 1,618AB @ 22,60

ı regret to say,elliot truth is written here http://www.investopedia.com/universi...liottwave4.asp

"The team confirmed Murray Ruggiero's finding that a correct wave count is not the most important factor in trading. Even with the help of a good program, all Elliott forecasts are, at best, an educated guess: a trader can never be certain because there is always a larger pattern that cannot be included in the analysis unless he or she goes back to the beginning of time. Swannell's team found that since many alternate counts result in similar forecasts, this problem of possible inaccuracy is not as critical as many previously thought. As long as a count is arrived at logically, adheres to the rules and is confirmed over various time periods, it doesn't matter what the larger degree (next largest wave pattern) is. In Swannell's findings, the most probable scenarios gave exactly or at least very similar forecasted results. This finding is crucial to a trader's success and means that, as Ruggiero says, the count is of less importance than the penalty for being wrong, which is the loss on the trade."

"Of the thousands of equities, indexes and commodities tested, Swannell's team found that in about 65% of the cases, Elliott Wave theory proved too unreliable to be used to trade with any degree of confidence. In other words, using the theory to trade the instruments included in this 65% would prove a losing proposition. It means that traders should limit their focus to the 35% that proved to be viable trading candidates."

Despite of the myths about the usefulness of Elliott Wave for trading, as there always are and heard them many times before, I've found EW & Fibonacci ratios great trading tools just on their own, not only applied effectively in long and short term market forecasts; they are at their best for trade setups, entry, exit and management of trades.

Recently I've also discovered EW even as a powerful tool for money management in trades, providing invalidation levels for tight stops and full range targets for better Risk/Reward.


Trading Ending Diagonals on SPX:
Prepare for longs on a 5th wave of ED c of iv. SL @ wave 2 bottom, target 2110.
Expect a swift & full retracement after the just completed ED of orange wave c .

- EW is dead, but you're going to realize that after you find that you've wasted 3 or 4 (may be even 5 years) of your very short life on a non sense theory.

- A lot of traders (they consider themselves to be ones) post EW counts and consider it the main tool to trade.

- Well, it isn't and you'll burn yourself many times, without a single improvement in your ability to enter the market, let alone forecasting the market.

- After you waste many years of your life trying to apply concepts / guidelines, eventually you'll be frustrated from trading and you'll leave it for ever.

- So, I consider EW the shortest way to leave trading.

- For the one who gives other members false dreams / hopes about EW, How many trade explorers you've deleted from your profile

trying to catch tops/bottoms?

- Blowing yourself up in a matter of 2 or 4 weeks trading, not to mention the huge DD.

- But I guess you care more about your subscribers than yourself.

- How many years of my life should I lose trying to apply inapplicable theory to current markets!!!!!!!

- Is it 1 2 3 or a b c, even C is more than 161.8% of supposedly the A-wave (Externally) and why the market completely retrace it and the bigger picture isn't completed yet.(considering all scenarios)

- B- wave subdivided or we are having an x-wave.

- Is this wave missing a wave or not?

- Is it a triangle or b-wave subdivided in a common flat?

- Is this pattern a neutral triangle or 3rd wave extended terminal?

- Is this consolidation a 5th wave in a terminal or a symmetric pattern?

- It is :5 but why it is completely retraced, why should I wait for a post-pattern behavior for every move. am i going to be late and increase my risk while the focus is decreasing it?

- It is a triple zz, but why the market retrace it more than 70%

- Millions of possibilities and if you made one mistake in any time frame, then everything is going to be wrong and lately will be modified after taking a loss.

- So instead of simplifying it, you'll find yourself studying and applying astrophysics in every move on all time frames in one market and you don't know whether it is going to move with you or against you.

- And then it became a Pseudoscience after Glenn Neely modification.

- Back at the time it was founded may be it worked well for the very few who know it.

- Now, everybody knows it, will it work like before??????

- Of course not, if everybody knows it, then who is going to lose?

- Isn't odd that the man who discover it (Ralph Nelson Elliott) died dirt poor!!!!!!!!!

- Even Glenn Neely himself sold all what he knew about it since 1990.

- Enough, good luck trying to form order out of chaos.