Elliott Wave Trading

That loonie trade was an absolute shambles but there is always another trade around the corner. I hate the pair but AUDNZD could be near a bottom and r/r seems all right, might be a trade for months/years to come.

And NZDUSD might be near a top as well but want to see this topping out on smaller charts before jumping in, AUDNZD looks better imo

USDJPY went long

Elliot update May 27, 2016
suthmo

Orthodox tops and bottoms

Again Elliot theory has re defined reality to fit the broken model. Started in middle of the
preceding wave and calling it 1 and 2. Then 3,4 and five are a new wave set 1,2 and 3. Like trying to fit square peg in round hole. And then get excuses such
as the end thats not higer than the true end that precedes it. The higher high or low dubbed orthodox end!

Reconciling Function and Mode
This section takes us even further into bat country with Actionary Corrective waves. Claims that some Actionary waves
operate in corrective mode. An actionary is just that and corrective is just that, the mixing of the two here is symptom of incorrectly identified overall
count. 1,3,5 are actionary and 2,4,6 And 8 are corrective there's no blending of modes in the true wave system.

Elliot states that the wave system doesn't apply to instruments fixed by edict by gov. I can safely say I've realized the true system and developed it across
gold and euro charts and the Dow stocks every one operating the same way.

////////Update 10/06/16

Guidelines to alternation

There are insufficient diagrams. Why would internal 2 make a new extreem.

Forecasting corrective waves All the counts are wrong. Wave 1 and 7 and all the magic therein is completely overlooked and lost with pseudo labels. Elliot misses the top of Some waves and counting multiple waves as one. States that guidelines are not a rule a lot, because he's out of faze.

Behaviour Following 5th Wave Extensions
Wave counts are out and all important things about retracements are overlooked. 5 is 7

Channelling wave equality
Again wave counts are wrong, waves have been bunched together.

Wave Personality (and mass psychology)
Why are we attributing price action to human behaviour? What do human emotions have to do with the variable ratios of time and volume flowing through a
fractal?. What does fractal mechanics have to do with human emotion and do people have exactly the same emotions in the same order over and over again?
The cycle does the same thing over and over again never changes, always true to itself, does that sound anything like human emotions?

Channelling Technique

I thought it was cute that Elliot claimed dominion over 'The Channel' He so obsessed with making those waves fit in his nice neat channel. Seem to force wave
count to fit the channel and his 5 number. Beware the imaginary boundry.

The Right Look
I had to laugh when Elliot is proclaiming "it's wrong to force a three wave count into a five wave system", haha. He crammed five into seven.

Elliot makes detailed breakdown of all the waves personalties:

The counts are wrong, there's not one chart or diagram throughout the detailed description of each wave. Wave one is not even included.
Waves 2 through 5 and 7 through 9 (a,b,c,d) are included. He's labelling the first sub 2 and calling it a starting point.

Learning The Basics
The counts are wrong and more calculating from the orthodox high.

Where I'm at
I'm halfway through copying out the entire Wave Principle. I'm just coming to the good bit Lesson 16 Fibonacci

Summary
On the good side Elliot's The Wave principle gives us a framework to operate from, it's got it's merits and following the principles correctly can lead to some great trades, however..... The Wave Principle it's very hollow, it's out of faze, somewhat misleading and detrimental to a true understanding of the cycle. It's a bit of a walled garden.

My analysis on Gold:

I have 2 possible counts, I'll wait to see how it reacts for knowing which is the good one. Any thoughts?

Could you please label some charts using your theory?
And could you please stop saying that Elliott is broken in an Elliott Wave thread? I would gladly suscribe to your thread if you start labeling charts and talking about your own research in another thread.

Regards.

Under 1.0550 I give up on this one

AUDNZD, wave 4 of 5 imo, then ideally wave 5 back to 1.0380 (A=C).

EURUSD seems to be in a triangle (d leg). Wave B might already be finished at 1.1415 but I think it's just a A wave (or W wave) because this comes down looking like a B wave (of larger (B)).

i dunno if it's right or wrong , but by my count USDCHF should go south... Any idea?
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dang! got stopped by trailing ...

by seeing lately on some pairs and my counts , I am 85% sure a metal will move about 13,482.8 points (potentially).
it's a big opportunity isn't it?
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the problem then is where should i open to get better ratio , at least 1:8 or higher?

Hi barkie,

My view for USD/JPY.

Think an extended wave 5 on Daily time frame. Now wave III of wave 5.

Thanks

I think chf/jpy correction almost done.

Hi shyean, now in wave 4 of 5 imo.

Possibly EURUSD is in a smaller triangle (B wave) as well.

EURUSD is still in the middle of multi-year correction (4), now on wave c down since 3rd of May top.
Setting up for shorts on retracement near 1.1430.

USDJPY is heading down towards the end of correction [4], now on 5th leg of (C).
Setting up for shorts on retracement near 108.360

GBPUSD

Barkie,

Good stuff, I agree with the double three but I wouldn't rule out a flat and in that case this latest move up is a C-wave. That C-wave would be a lot shorter in time than the initial three waves up and seems out of proportion which is why I would prefer the double three at this point. The referendum in the UK tomorrow and its aftermath will probably provide some clarity.

GBPUSD has a potential move up to 1.523953