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Elliott Wave Trading

  • #7,881
  • Feb 2, 2017 11:56pm Feb 2, 2017 11:56pm
Quoting skyhok
XAUUSD daily - An impulse wave (C) red started from December 2015 low. Now looking at and projecting wave (5) of (C) between Fib. retracement levels, towards 1542. Long-term long setup on 0.6182 retracement near 1160.00, SL at invalidation @ 1135.00 XAUUSD 2Feb17.png;2168216 {image}
Can't agree with you more.
  • #7,882
  • Feb 3, 2017 11:20am Feb 3, 2017 11:20am
Quoting salifx
{quote} same here stopped @1.0790. our counting has failed, do you have any secondary scenario for eurusd?

Sorry. I'm rarely here. didn't see your message. lay out Count later.
The world of swinging. The market is swinging. But my mood is rather bearish. :-)
  • #7,883
  • Feb 4, 2017 1:27am Feb 4, 2017 1:27am
my analysis on EURUSD

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 25 KB


if we see wave 2? retraces more 38% of 1? then we can expect 3? between 1.09407 - 1.11367 ('cos 3 never be the shortest - it's rule).
This condition is still valid as long PA never break or touch the white trendline
before 1.09407 level (3 do not allowed to touch the trendline BEFORE it has reached the level - it's rule).

IF it does we must re-label 1?2?3? as ABXC ((abc)'-x-(abc)'').
then we can expect PA retraces entire formation at least to area 1.057809 - 1.06198

NOTE : a heavy-resistance is seen at 1.08727 which will play as a confirmation barrier.

at which level i should enter the market?
the PA must break 1.079695 first with SL on nearest bullish engulfing
with TP 1.09407 (tight-trailing on) as long RR is accepted.
Without it stand-aside is better.
I Can be What I Will to be
  • #7,884
  • Feb 5, 2017 7:24pm Feb 5, 2017 7:24pm
Hi good morning, my name is Jevan, I am new here, and I still learn Forex, and here is my Elliott
any comments thanks
Attached Image (click to enlarge)
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  • #7,885
  • Feb 6, 2017 2:02am Feb 6, 2017 2:02am
Quoting Jevan
Hi good morning, my name is Jevan, I am new here, and I still learn Forex, and here is my Elliott any comments thanks {image}
Hi Jevan , welcome to the club

you should re-label the formation to be 3 not 5.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 29 KB


this are some reasons why ;

  1. any PA of wave-(iii) DO NOT allowed to touch / break (ii)-(iv)trendline.
  2. according to the picture, (ii) retraces only 38% of (i), so (i) is the extended wave compare to (iii) and (v). Rules says if (i) is extended then (iii) is only between 38 - 61% of (i). But if (iii) is more than 61% then the formation is 3 (corrective) not 5 (impulse).
  3. the rules of 5 says that the longest legs should 161% of the next longest (for 1,3,5). We dont have it here.
  4. If (i) is the longest, the logic for (ii) has to be complex formation. Our picture shows simple (ii).

----
kumaha?

I Can be What I Will to be
  • #7,886
  • Feb 6, 2017 2:07am Feb 6, 2017 2:07am
Quoting Jevan
Hi good morning, my name is Jevan, I am new here, and I still learn Forex, and here is my Elliott any comments thanks {image}
Try W-X-Y , with ratios .
See what You get !
  • #7,887
  • Feb 7, 2017 3:38am Feb 7, 2017 3:38am
Quoting yanitsa
{quote} Try W-X-Y , with ratios . See what You get !
I am still newbie, must learn more about W-X-Y, but thanks for your comment
  • #7,888
  • Feb 7, 2017 4:28am Feb 7, 2017 4:28am
This a good start to improve your EW knowledge for free:

http://sweeglu.com/category/ewt-articles/

Sixer
  • #7,889
  • Feb 7, 2017 10:34pm Feb 7, 2017 10:34pm
Thanks Sixer, ... and here is my another chart
Please advises
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 28 KB
  • #7,890
  • Feb 10, 2017 3:20am Feb 10, 2017 3:20am
Good Day Everyone,

My attempt for GBP/USD H4,

Waiting for a pull back of not more than 61.8% to short into Wave (c).

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 34 KB
"The markets can remain irrational longer than you can remain solv
  • #7,891
  • Feb 10, 2017 4:23am Feb 10, 2017 4:23am
Quoting shyean
Good Day Everyone, My attempt for GBP/USD H4, Waiting for a pull back of not more than 61.8% to short into Wave (c). Thanks GBPUSDH1.png;2182094 {image}
Why not using an a-wave instead of you b-wave, from the upside move? Do you analyze this on a large time frame and making logic of you current analysis?
  • #7,892
  • Feb 10, 2017 4:48am Feb 10, 2017 4:48am
Hi diavolul,

Hope I got the question correctly.

Due to break of up momentum, therefore my bias to downside.

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 38 KB


Quoting diavolul
{quote} Why not using an a-wave instead of you b-wave, from the upside move? Do you analyze this on a large time frame and making logic of you current analysis?
"The markets can remain irrational longer than you can remain solv
  • #7,893
  • Feb 10, 2017 2:17pm Feb 10, 2017 2:17pm
Quoting shyean
Hi diavolul, Hope I got the question correctly. Due to break of up momentum, therefore my bias to downside. Thanks GBPUSDH4.png;2182293 {quote} {image}
I mean if your current count it fits in the larger picture count?
  • #7,894
  • Feb 10, 2017 2:20pm Feb 10, 2017 2:20pm
Inserted Video
  • #7,895
  • Feb 10, 2017 8:07pm Feb 10, 2017 8:07pm
Hi diavolul,

From Daily view, i'm thinking a pullback downwards before resuming up.

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 31 KB


Quoting diavolul
{quote} I mean if your current count it fits in the larger picture count?
"The markets can remain irrational longer than you can remain solv
  • #7,896
  • Feb 10, 2017 8:35pm Feb 10, 2017 8:35pm
@shyean I just realized you're looking at the daily, not the hourly. Anyhow, I'll post the hourly.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 210 KB
  • #7,897
  • Feb 12, 2017 5:36am Feb 12, 2017 5:36am
Hello
I am very new to the Elliott waves, still trying to comprehend some of the concepts.

There is something, which confuses me about corrective structures. Can we have a WXY structure as wave 2 or wave 4? I thought that the rule is:
"waves divide in motive mode (five waves) when trending in the same direction as the wave of one larger degree of which it is a part,
and in corrective mode (three waves or a variation) when trending in the opposite direction. Waves (a) and (c) are motive, trending in the same direction as wave [2]."

however if we have WXY instead of ABC this would mean that the structure is 3-3-3, instead of 5-3-5 so there are no motive waves in it?
  • #7,898
  • Feb 12, 2017 12:30pm Feb 12, 2017 12:30pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 w5.png Size: 52 KB
  • #7,899
  • Feb 12, 2017 12:35pm Feb 12, 2017 12:35pm
@jaxx80 I think Elliott wave counting is already complicated so what I do instead is look at it in terms of wave 3 using the Fibonacci expansion tool. Below are a couple of examples of one tradable pattern; there are others.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 324 KB


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  • #7,900
  • Feb 12, 2017 12:57pm Feb 12, 2017 12:57pm
EUR
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4 12 02 17.png Size: 23 KB
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