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Elliott Wave Trading

  • #8,121
  • Mar 22, 2017 4:51am Mar 22, 2017 4:51am
USD-CAD
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  • #8,122
  • Edited 8:35am Mar 22, 2017 4:51am | Edited 8:35am
Hi Aalperbk, was looking with interest Your Daily count for Dax.
Could You update The chart after The Big drop of yesterday? Tnk.
Per aspera ad astra
  • #8,123
  • Mar 22, 2017 4:53am Mar 22, 2017 4:53am
AUD-USD
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  • #8,124
  • Mar 22, 2017 4:56am Mar 22, 2017 4:56am
USD-TRY
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  • #8,125
  • Mar 22, 2017 5:02am Mar 22, 2017 5:02am
EUR-JPY
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  • #8,126
  • Mar 22, 2017 5:09am Mar 22, 2017 5:09am
AUD-CHF
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  • #8,127
  • Mar 22, 2017 5:16am Mar 22, 2017 5:16am
Quoting jpadvisor
Hi Aalperbk, was looking with interess You Daily count for Dax. Could You update The chart after The Big drop of yesterday? Tnk.
Yes sure
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  • #8,128
  • Mar 22, 2017 10:59am Mar 22, 2017 10:59am
Quoting aalperbk
{quote} hi Paul.. 1st) Because of the last wave. It is an impulsive wave not a corrective. Only the (c) wave in a-b-c can have 5-3-5-3-5 structure.And it is a very important rule that wave c always has to be impulsive. Some times you can see wave c in ending diagonal formation (3-3-3-3-3) structure.(but it is also an impulsive wave). 2nd) wave (b) has touched the fib %50 of wave (a).For a-b-c wave b has to be min fib%50 of wave (a). {image}
Hi,
I understood in case in which the last wave is not impulsive , it can be labelled wxyxz
else when the last one is impulsive a-b-c structure is more appropriate,dont I?

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---------------------------------------------------
Another question :
Here (w) is zig-zag with sub-waves (a)-(b)-(c) .
When (a) and (c) are both impulsive , why only (c) has 5-3-5-3-5 structure ,
but (a) is labelled w-y-x ?.....
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  • #8,129
  • Edited 12:18pm Mar 22, 2017 11:03am | Edited 12:18pm
USDollar has been tanking, expect other Currencies/USD pairs to do the opposite.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #8,130
  • Mar 22, 2017 11:15am Mar 22, 2017 11:15am
EURUSD
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Elliott Wave for optimum entry, exit and risk management of trades
  • #8,131
  • Mar 22, 2017 11:25am Mar 22, 2017 11:25am
While USDJPY's been tanking, too.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #8,132
  • Mar 22, 2017 11:30am Mar 22, 2017 11:30am
Quoting paulselvan
{quote} Hi, I understood in case in which the last wave is not impulsive , it can be labelled wxyxz else when the last one is impulsive a-b-c structure is more appropriate,dont I? {image} --------------------------------------------------- Another question : Here (w) is zig-zag with sub-waves (a)-(b)-(c) . When (a) and (c) are both impulsive , why only (c) has 5-3-5-3-5 structure , but (a) is labelled w-y-x ?..... {image}
1 st) You understood right.But not only the last wave is impulsive or not also you have to pay attention to fibo ratios. b wave has to touch min %50 of a , wave c cant be bigger than fib exp 1.618% of wave a-b. All situations have to mach it is very important..

2nd) Because subwave a of wave w has w-x-y combination structure . For to be wave 2, as wave b has to touch min fib %50 of wave 1.
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  • #8,133
  • Mar 22, 2017 12:05pm Mar 22, 2017 12:05pm
Quoting aalperbk
{quote} hi infinitus , Man , I guess you have to understand firstly difference between how to use percent and fibonaacci ratios for calculation.Percent shows you a specific level in wave (a) for wave (a) but fibo ratios shows you a specific level in wave (a) for possibilities of wave (b). For calculation of percent of wave (a), your start point (I mean "0") is the start of wave (a) and your end point is (I mean "1") end of the wave (a).But for calculation of fibonacci ratios for wave (b) in wave (a) your start point (I mean "0") is the end of the...

Hi aalperbk,

thank you for pointing out the differences of the different measurements. But rest assured, that I perfectly know the differences. My question aimed at the differences between a rule and a guideline.

Although the wave B of an zigzag retraces typically between 50 and 79% of wave A (when wave B is an zigzag) (that would be high probability), we can find examples, where wave B of the zigzag retraced less than the 50% or more than the 79%.

People who learn Elliottwave have to understand, that there are only a handful of RULES, but many guidelines. But in the end, a guideline is only a guideline. That means, a count does not simply get invalidated, when the guideline is not fulfilled. Price only chose to take the less probable way. But a count gets invalidated, when a rule is broken.
  • #8,134
  • Mar 22, 2017 12:13pm Mar 22, 2017 12:13pm
Quoting aalperbk
{quote} 1 st) You understood right.But not only the last wave is impulsive or not also you have to pay attention to fibo ratios. b wave has to touch min %50 of a , wave c cant be bigger than fib exp 1.618% of wave a-b. All situations have to mach it is very important.. 2nd) Because subwave a of wave w has w-x-y combination structure . For to be wave 2, as wave b has to touch min fib %50 of wave 1. {image}
Pardon me for insisting here:

again, there is no place in EWP where such a rule, neither a guideline exists

so I ask you again: what rules and guidelines are you using?
  • #8,135
  • Mar 22, 2017 12:59pm Mar 22, 2017 12:59pm
Quoting infinitus
{quote} Pardon me for insisting here: again, there is no place in EWP where such a rule, neither a guideline exists so I ask you again: what rules and guidelines are you using?
My friend don't be angry I am just sharing my experience as a user of ew rules in many years successfuly. you asked me I just answered.

Rules or guideline how you say is same in everywhere.if b is not min %50 it is not wave b something else( this is the main information for determine a-b-c or w-x-y when the second wave has ended) . And if wave c is bigger than fib 1.618 it is not c it is impulsive(3th wave in 5 waves) . Ofcourse there are few formations where are main rules are broken like leading and ending diagonals.But they are not about wave b or wave c.

you can find some documents which are explaning how to use fib ratios for motive and corrective waves.
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  • #8,136
  • Mar 22, 2017 1:05pm Mar 22, 2017 1:05pm
Quoting paulselvan
{quote} Hi, I understood in case in which the last wave is not impulsive , it can be labelled wxyxz else when the last one is impulsive a-b-c structure is more appropriate,dont I? {image} --------------------------------------------------- Another question : Here (w) is zig-zag with sub-waves (a)-(b)-(c) . When (a) and (c) are both impulsive , why only (c) has 5-3-5-3-5 structure , but (a) is labelled w-y-x ?..... {image}

Hi Paulselvan,

hope you do not mind when I try an explanation:

ABC-flat: 3-3-5
ABC-zigzag: 5-3-5

when a leg consists of more than one ABC, you get combinations.

It was not Elliott, who started to label combinations as WXY. It was Prechter, who found, that it would be easier to understand on a chart


so, a combination e.g. of

ABC(down)-ABC(up)-ABC(down)

can be translated as ABC-x-ABC

or

wxy

wxyz is used in combinations (double threes, tripple threes)

see page 52 of EWP

you can access the EWP for free, when you sign in at EWI for "Club EWI" membership (which comes at zero cost)
  • #8,137
  • Mar 22, 2017 1:18pm Mar 22, 2017 1:18pm
Quoting aalperbk
{quote} My friend don't be angry I am just sharing my experience as a user of ew rules in many years successfuly. you asked me I just answered. Rules or guideline how you say is same in everywhere.if b is not min %50 it is not wave b something else( this is the main information for determine a-b-c or w-x-y when the second wave has ended) . And if wave c is bigger than fib 1.618 it is not c it is impulsive(3th wave in 5 waves) . Ofcourse there are few formations where are main rules are broken like leading and ending diagonals.But they are not about...

Hi Aalperbk,

I am not angry in any way

Look, we have to define what we are talking about. There are certain tribes of Elliott wave, like the original (Elliott, Frost, Prechter) or e.g. Neely.

When you would claim to use the original (EWP), then there is no such rule or guideline, that Wave C of an ABC can not be longer than 1.618x wave A (look at the source I gave)


So, my question is simple, not aggressive or angry: which set of rules and guidelines do you use? I gave you my set of rules and guidelines which is EWP from Frost and Prechter, which is mostly the work of Elliott.

Do not understand me wrong: your counts are among the best I have ever seen here on FF or the rest of the Internet.

When you work with your own set of rules and guidelines it is perfectly OK for me, because I too have defined some for me (guidelines) making it easier to weigh the probabilities.

But when you use your own set (or any other than EWP), it would be nice to tell your audience.

Peace,

Infinitus
  • #8,138
  • Mar 22, 2017 1:31pm Mar 22, 2017 1:31pm
Quoting aalperbk
{quote} My friend don't be angry I am just sharing my experience as a user of ew rules in many years successfuly. you asked me I just answered. Rules or guideline how you say is same in everywhere.if b is not min %50 it is not wave b something else( this is the main information for determine a-b-c or w-x-y when the second wave has ended) . And if wave c is bigger than fib 1.618 it is not c it is impulsive(3th wave in 5 waves) . Ofcourse there are few formations where are main rules are broken like leading and ending diagonals.But they are not about...

Hi Aalperbk,

now we are talking :-)

Sorry, I am in the mountains with very poor Internet today because of snow/storm.

I noticed only now, that you gave the document.

Our friends from Elliottwave-forecast.com, which do outstanding work, use their own version of Elliott Wave. They have defined their own rules and guidelines besides the ones the original EWP gave.


I think their version of Elliot Wave has some advantages, but also some disadvantages (out of my sight). The disadvantages come often with the extensive use of WXY(XZ), which makes it very hard to determine probabilities.

But it is as with anything in trading:

when it works for you, stick with it. Most importantly: stick to the rules and guidelines. Even when your count gets invalidated, you have been able to determine your risk. And that is the core advantage of Elliott wave, regardless which system of Elliott wave you are using

Wish you always green pips,

Markus
  • #8,139
  • Mar 22, 2017 1:43pm Mar 22, 2017 1:43pm
Quoting skyhok
EURUSD {image}

I like this one very much. It would hurt many traders, sadly......
  • #8,140
  • Mar 22, 2017 2:03pm Mar 22, 2017 2:03pm
Quoting infinitus
{quote} Hi Aalperbk, now we are talking :-) Sorry, I am in the mountains with very poor Internet today because of snow/storm. I noticed only now, that you gave the document. Our friends from Elliottwave-forecast.com, which do outstanding work, use their own version of Elliott Wave. They have defined their own rules and guidelines besides the ones the original EWP gave. I think their version of Elliot Wave has some advantages, but also some disadvantages (out of my sight). The disadvantages come often with the extensive use of WXY(XZ), which makes...
Now it is ok Markus.I may have misunderstanding cause of this is not my mother language.At home I am not talking English with my wife .
So sory for my reaction man.

I found that document in internet , I guess it is useful.It is a kind of summary for fibo ratios of EW which I am using too like this.

I have few rules which are never can be broken for me about fibo ratios.Always have alternative counts instead of broke the rules.This is my way..

regards
Alper
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