Sep 27, 2008 5:40pm
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http://www.forexfactory.com/images/icons/icon1.gif USDJPY
usdjpy count
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 27, 2008 7:51pm
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UsdCad chart.
I expect it to go 1 more wave lower to complete w5, before it bounce up from trend line.
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#468
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 28, 2008 10:44am
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http://www.forexfactory.com/attachment.php?attachmentid=152176&thumb=1&d=1222613289 Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
UsdCad chart.
I expect it to go 1 more wave lower to complete w5, before it bounce up from trend line.
UsdCad in 15mins chart..
abcde count for wave 4 (green label)
I have placed sell stop if it break the red line in bearish side.
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#469
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 28, 2008 11:50am
Tmac
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#470
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Tmac
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#471
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Tmac
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now look at the inverse corelation pairs to those 2 posted
good luck
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#472
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Tmac
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Quote:
Originally Posted by 5ysfx http://www.forexfactory.com/images/buttons/viewpost.gif
usdjpy count
where did you ever learn wave counts?
A typical 1-2-3 high is formed at the end of an uptrending
market. Typically, prices will make a final
high (1), proceed downward to point (2) where an
upward correction begins; then proceed upward to a
point where they resume a downward movement,
thereby creating the pivot (3). There can be more than
one bar in the movement from point 1 to point 2, and
again from point 2 to point 3. There must be a full
correction before points 2 or 3 can be defined.
A number 1 high is created when a previous up-move has ended and
prices have begun to move down.
The number 1 point is identified as the last bar to have made a new
high in the most recent up-leg of the latest swing.
2
The number 2 point of a 1-2-3 high is created when a full correction
takes place. Full correction means that as prices move up from the
potential number 2 point, there must be a single bar that makes both
a higher high and a higher low than the preceding bar or a
combination of up to three bars creating both the higher high and
the higher low. The higher high and the higher low may occur in any
order. Subsequent to three bars we have congestion. Congestion
will be explained in depth later on in the course. It is possible for both
the number 1 and number 2 points to occur on the same bar.
3
The number 3 point of a 1-2-3 high is created when a full correction
takes place. A full correction means that as prices move down from
the potential number 3 point, there must be at least a single bar, but
not more than two bars that form a lower low and a lower high than
the preceding bar. It is possible for both the number 2 and number 3
points to occur on the same bar.
Now, let’s look at a 1-2-3 low.
A typical 1-2-3 low is formed at the end of an downtrending
market. Typically, prices will make a final low
(1); proceed upward to point (2) where an downward
correction begins; then proceed downward to a point
where they resume an upward movement, thereby
creating the pivot (3). There can be more than one bar
in the movement from point 1 to point 2, and again
from point 2 to point 3. There must be a full correction
before points 2 or 3 can be defined.
4
A number 1 low is created when a previous down-move has ended
and prices have begun to move up. The number 1 point is identified
as the last bar to have made a new low in the most recent down-leg
of the latest swing.
The number 2 point of a 1-2-3 low is created when a full correction
takes place. Full correction means that as prices move down from
the potential number 2 point, there must be a single bar that makes
both a lower high and a lower low than the preceding bar, or a
combination of up to three bars creating both the lower high and the
lower low. The lower high and the lower low may occur in any order.
Subsequent to three bars we have congestion. It is possible for both
the number 1 and number 2 points to occur on the same bar.
5
The number 3 point of a 1-2-3 low exists when a full correction takes
place. A full correction means that as prices move up from the
potential number 3 point, there must be at least a single bar, but not
more than two bars, that form a higher low and a higher high than the
preceding bar. It is possible for both the number 2 and number 3
points to occur on the same bar.
The entire 1-2-3 high or low is nullified when any price bar moves
prices equal to or beyond the number 1 point.
Last edited by Tmac, Sep 28, 2008 12:17pm
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#473
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 28, 2008 12:13pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
where did you ever learn wave counts?
Do u have problem with that ?
Btw ur usdchf wave 4 hasnt been finished yet so u cant calculate wave 5th
and show me ur usdjpy wavecount if u have one with this TF of course not daily one.
Dont quotes the book only show me ur chart with alternative wavecount
Dude whereever i post u always criticize me may i suggest something GFYS and leave my money alone.
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#474
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Tmac
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Btw ur usdchf wave 4 hasnt been finished yet so u cant calculate wave 5th
you obviously are not fimilair with Aget charts and how they work, do a little homework and you will understand them better and how they are plotted. it really is an awesome program and with all EW it is also prone to an alternate count but the daily chart is best used for EW's
good luck
I quote the book so you may learn where you have mislabeled the charts, if you are to learn correctly you must take criticism as contructive and in the manner it is given
you are on my ignore list now so no more worry there, some wish to learn and will admit mistakes and WANT to learn, others do not wish to learn but wish to be always right, that is the main problem with FF in general
good luck
Last edited by Tmac, Sep 28, 2008 12:38pm
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#475
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Tmac
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http://www.forexfactory.com/images/icons/icon1.gif dollar yen
here is a count for the yen
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#476
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Tmac
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for review
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#477
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Tmac
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#478
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 28, 2008 12:57pm
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http://www.forexfactory.com/images/icons/icon1.gif Oversimplification.
Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
you obviously are not fimilair with Aget charts and how they work, do a little homework and you will understand them better and how they are plotted. it really is an awesome program and with all EW it is also prone to an alternate count but the daily chart is best used for EW's
good luck
I quote the book so you may learn where you have mislabeled the charts, if you are to learn correctly you must take criticism as contructive and in the manner it is given
you are on my ignore list now so no more worry there, some wish to learn and will admit mistakes and WANT to learn, others do not wish to learn but wish to be always right, that is the main problem with FF in general
good luck
I do not rely on any software i rely on my mind only.
I m not a EW teacher and dont want to be.
Also i im not looking for mentor here. (especially such rude like u)
I will be dong in my way, whatever this is EW or not i dont care.
This give me a lot of money and pleasure.
So leave ur pathetic suggestion for less expericenced trader OK ?
and let me trade in my way.
This will be best deal for both of us.
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#479
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 28, 2008 3:53pm
Tmac
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#480
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 3:44am
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
My AudUsd chart.
wave B is 62% of wave A, so i guess it ended at 0.8426.
I gonna short it for wave C.
Update for my AudUsd chart.
Nicely forming wave C now.. 200+ pips in greenhttp://www.forexfactory.com/images/smilies/yim/happy.gif.
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http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
For review
Hi Tmac,
My view about UsdChf.
Quite different counts from yours..http://www.forexfactory.com/images/smilies/yim/happy.gif
..
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 4:24am
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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http://www.forexfactory.com/images/icons/icon1.gif Congratulations
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Tmac,
My view about UsdChf.
Quite different counts from yours..http://www.forexfactory.com/images/smilies/yim/happy.gif
..
Nice one Blue i see big progress http://www.forexfactory.com/images/smilies/yim/winking.gif http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
U have been stoped begin ur post with words "false setup" http://www.forexfactory.com/images/smilies/yim/big_grin.gif
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#483
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 5:01am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cabel.
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#484
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 6:34am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by 5ysfx http://www.forexfactory.com/images/buttons/viewpost.gif
Nice one Blue i see big progress http://www.forexfactory.com/images/smilies/yim/winking.gif http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
U have been stoped begin ur post with words "false setup" http://www.forexfactory.com/images/smilies/yim/big_grin.gif
Thanks 5ysfx.
Actually you, FXoffshore, Soso, this thread and other Elliott traders here, are helped me in my improvement. Thanks again.
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#485
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Jnita
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Hi,
Just started wave analysing.
What is the most prefered timeframe to use by everyone here?
The daily seems to long, but the wave indication is clear.
Regards
J
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#486
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Jnita
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I have installed IBFX's wave indicator.
How does it compair to others?
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#487
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Jnita
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Here is the 15min chart.
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#488
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 2:05pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Jnita http://www.forexfactory.com/images/buttons/viewpost.gif
Hi,
Just started wave analysing.
What is the most prefered timeframe to use by everyone here?
The daily seems to long, but the wave indication is clear.
Regards
J
Hi Jnita,
Welcome here!
Basically i use all timeframe, but preference is anything above 1 Hour.
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#489
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 5:15pm
fxterrapin
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Could somebody recommend a good approach to learning EW? It seems to make much more sense to me when I don't think of it in terms on the waves themselves, but rather the stages of crowd psychology that represent the waves' movements. Is there a "correct" count? Or simply many interpretations.
Any comments, experiences would be appreciated.
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#490
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Mano
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Quote:
Originally Posted by fxterrapin http://www.forexfactory.com/images/buttons/viewpost.gif
Could somebody recommend a good approach to learning EW? It seems to make much more sense to me when I don't think of it in terms on the waves themselves, but rather the stages of crowd psychology that represent the waves' movements. Is there a "correct" count? Or simply many interpretations.
Any comments, experiences would be appreciated.
Hi!, you are correct, EW do represent crowd psychology, the waves from 1920 are still the same as in 2008 http://www.forexfactory.com/images/smilies/yim/happy.gif, anyway since EW represent crowd behavior there are times when the market is unbalanced, there for there are times when its hard to read the waves correctly, us (EW traders) have rules & guidelines and our eyes ofcourse which make EW trading much more easy, study the the rules and guidelines and then go to your charts and start study the waves, it will pay off!.
I find EW to be a key tool to market behavior, answer to every chart pattern inc other patterns like H&S, double B\T, Megaphones and many more, you will know 2 steps before the market what will happen, how it will happen and more..., i love to combine more tools like candlestick (which i love), trend lines, S/R, Divergence, Fibo and more... to confirm the moves and timing my intros & exits and more...but in the end of the day its up to you if you'll win http://www.forexfactory.com/images/smilies/yim/happy.gif, i hope you know the 90%-10% rule, this rule is with us all the time, not only in forex...
Hope it helps!
Good luck!
@Blue bottle, great work your doing here!
BTW, USDJPY looks interesting those days http://www.forexfactory.com/images/smilies/yim/happy.gif keep an open eye.
-m-
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#491
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 7:38pm
fxterrapin
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Quote:
Originally Posted by Mano http://www.forexfactory.com/images/buttons/viewpost.gif
Hi!, you are correct, EW do represent crowd psychology, the waves from 1920 are still the same as in 2008 http://www.forexfactory.com/images/smilies/yim/happy.gif, anyway since EW represent crowd behavior there are times when the market is unbalanced, there for there are times when its hard to read the waves correctly, us (EW traders) have rules & guidelines and our eyes ofcourse which make EW trading much more easy, study the the rules and guidelines and then go to your charts and start study the waves, it will pay off!.
I find EW to be a key tool to market behavior, answer to every chart pattern inc other patterns like H&S, double B\T, Megaphones and many more, you will know 2 steps before the market what will happen, how it will happen and more..., i love to combine more tools like candlestick (which i love), trend lines, S/R, Divergence, Fibo and more... to confirm the moves and timing my intros & exits and more...but in the end of the day its up to you if you'll win http://www.forexfactory.com/images/smilies/yim/happy.gif, i hope you know the 90%-10% rule, this rule is with us all the time, not only in forex...
Hope it helps!
Good luck!
@Blue bottle, great work your doing here!
BTW, USDJPY looks interesting those days http://www.forexfactory.com/images/smilies/yim/happy.gif keep an open eye.
-m-
90%-10% rule?
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#492
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 8:53pm
Mano
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Quote:
Originally Posted by fxterrapin http://www.forexfactory.com/images/buttons/viewpost.gif
90%-10% rule?
Yes, 90%-10% "rule" or should i say 38.2%-61.8% "rule", the 90-10 "rule" is a statistic "rule" mainly.
i will give you example, put 100 students in classroom and give them a test, how many do you think will pass it? or take 100 ppl and let then learn EW, how many will do it correctly? , you see my point? for every statistic question you'll ask there is an answer with % ratio, more often then not the %ratio is near 38.2%-61.8, some ppl i know inc my self calling it the The Golden Ratio http://www.forexfactory.com/images/smilies/yim/winking.gif...
its late here so,
Good night and happy trading
-m-
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#493
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 10:09pm
Tmac
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Tmac,
My view about UsdChf.
Quite different counts from yours..http://www.forexfactory.com/images/smilies/yim/happy.gif
..
good job Blue bottle, there is no right or wrong in EW, its always good to share ideas and not always look to be right.
for every count anyone posts there is always an alternate count that can be posted so I do not worry so much about being right just keep on working on it and learning.
yes I like aget but only use those that agree with my own analysis of a pair.
I like to looks of your count as well but I just do not see the euro gaining much is the only reason I perfer a count showing the chf going up more before it falls. TBH it looks and has looked like it ready to fall off a cliff anytime.
good luck and
thanks for sharing
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#494
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 5:40am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi all,
cable chart in M15 mins chart.
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#495
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 12:53pm
pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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hi all,
cable: time for ABC correction?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=152943&stc=1&thumb=1&d=1222793568
Sep 30, 2008 5:14pm
ffwuc
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Member Since Aug 2006
22 Posts
http://www.forexfactory.com/images/icons/icon1.gif Way off
I have installed IBFX's wave indicator.
How does it compair to others?[/quote
re: IBFX's wave indicator
Jnita,
You would be best off learning the rules and guidelines of Elliot Wave theory (ElliotWave dot com is a good place to start) before relying on any indicators.
A quick glance at your chart has a wave 3 shorter than wave 1 and 5 -Wave 3 can never be the shortest; the 2 and 4 labels are where the 1 and 3 labels should be; wave 5 is labelled corrective (overlapping waves moving against the main trend) - this should be labelled wave 4 or some other corrective variant.
Waves are fractal and therefore work on all time scales. That is why a monthy chart looks essentially the same as a one minute chart and why an ABC correction can contain two impulsive 5 wave advances that can trick you as to the real trend direction.
You should always zoom out to a larger time frame to identify a major top or bottom before you start counting.
If you zoom this chart out to a 4hr, you will see that this current downtrend started after a probably corrective ABC (larger A or 4 wave) advance in the pound.
The wave that is counted by the indicator on your chart is part of either the resumption of the larger downtrend (it has currently finished 5 down on a smaller time scale so this is more likely) or just a larger B wave that is part of an even larger correction UP.
You won't know for sure until it begins a surge higher in a wave C or takes out the previous low at around 1.744.
Regardless, the indicator has labelled this wave as a triangle (ABCDE). Triangles are normally horizontal with perhaps a slight bias against the main trend. The waves get progressively smaller or compressed (E is shorter than D which is shorter than C etc) before they blast out of the point of the triangle, usually in the direction of the previous trend.
Looking at a Weekly chart of the pound, it is right now either in the process of finishing the 5th wave of a larger wave 3 of an even larger wave 1, which means it needs to do a wave 4 then a wave 5 before doing a huge wave 2 correction...
OR it is has finished a very large ABC correction down..
and is now either resuming the previous uptrend or an even larger B wave up.
As you can see there is alot of eithers and ors going on but Elliot Wave allows you to objectively assess possible future price movements, with objective price targets (fibonnacci relationships between the waves - a whole other discussion) that tell you both where you are wrong and where you are right.
I have included a weekly chart with two possible counts from the 2.12 top, and a 15min chart with a count that is closer to reality than the indicator, because it fits with the larger count produced from the weekly chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153009&stc=1&thumb=1&d=1222809211 http://www.forexfactory.com/attachment.php?attachmentid=153010&stc=1&thumb=1&d=1222809211
Last edited by ffwuc, Sep 30, 2008 5:21pm Reason: may not be clear who this is replying to
http://www.forexfactory.com/images/buttons/quote.gif #498
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Tmac
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Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
For review
with the euro headed to a new possible low this should also hit target about the same timehttp://www.forexfactory.com/images/smilies/yim/happy.gif
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#499
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Tmac
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Tmac,
My view about UsdChf.
Quite different counts from yours..http://www.forexfactory.com/images/smilies/yim/happy.gif
..
do you have an updated chart for this please? I really like the Daily because it will give you cleaner counts than the lower TF's
it may take longer for them to come to pass but thats something I am willing to wait for and trade to
Thanks
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#500
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 7:41pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi all,
My EurUsd chart.
Wave C is equal to length of wave A, so 1.4010 might the end of
wave B (big wave/red color).
Both Cable and UsdChf pair too confirmed this wave B end.
But when i zoom into w-C, it forming in 12345 pattern, so we may expect 1 more down wave (w5)to complete full count.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153045&stc=1&thumb=1&d=1222818083 http://www.forexfactory.com/attachment.php?attachmentid=153055&stc=1&thumb=1&d=1222819237
Last edited by Blue bottle, Sep 30, 2008 8:00pm
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#501
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http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all,
My EurUsd chart.
Wave C is equal to length of wave A, so 1.4010 might the end of
wave B (big wave/red color).
Both Cable and UsdChf pair too confirmed this wave B end.
4 hours chart for bigger picture.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153046&stc=1&thumb=1&d=1222818328
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#502
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:07pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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http://www.forexfactory.com/images/icons/icon1.gif eu end of B wave
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
4 hours chart for bigger picture.
same here http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#503
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:13pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by 5ysfx http://www.forexfactory.com/images/buttons/viewpost.gif
same here http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Hi 5ysfx,
Have you entered LONG already?
I am waiting for 1 more wave down before go LONG.
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#504
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:14pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
do you have an updated chart for this please? I really like the Daily because it will give you cleaner counts than the lower TF's
it may take longer for them to come to pass but thats something I am willing to wait for and trade to
Thanks
UsdChf Weekly chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153063&stc=1&thumb=1&d=1222820049
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#505
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:14pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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UsdChf
Daily Chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153064&stc=1&thumb=1&d=1222820092
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#506
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:15pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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UsdChf
4 Hours chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153065&stc=1&thumb=1&d=1222820139
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#507
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:17pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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UsdChf
1 hour & 15 mins chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153067&stc=1&thumb=1&d=1222820224 http://www.forexfactory.com/attachment.php?attachmentid=153068&stc=1&thumb=1&d=1222820263
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#508
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 8:18pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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http://www.forexfactory.com/images/icons/icon1.gif hard to say
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi 5ysfx,
Have you entered LONG already?
I am waiting for 1 more wave down before go LONG.
actually i am
but i will TP soon and go short for last wave http://www.forexfactory.com/images/smilies/yim/winking.gif
or maybe not http://www.forexfactory.com/images/smilies/yim/happy.gif
dunno my oscilators show up up up 5min 15 min 30 min
If will go down i will buy more
wave 4 could last to 14280
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#509
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 9:07pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153095&stc=1&thumb=1&d=1222823246 http://www.forexfactory.com/attachment.php?attachmentid=153096&stc=1&thumb=1&d=1222823387
Oct 1, 2008 12:54pm
pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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hi guys,
guppy count i have so far on 15 min.
hope this plays out. http://www.forexfactory.com/images/smilies/yim/praying.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153372&stc=1&thumb=1&d=1222880005
http://www.forexfactory.com/images/buttons/quote.gif #513
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 1, 2008 1:23pm
Jnita
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354 Posts
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Quote:
Originally Posted by Jnita http://www.forexfactory.com/images/buttons/viewpost.gif
I have installed IBFX's wave indicator.
How does it compair to others?[/quote
re: IBFX's wave indicator
Jnita,
You would be best off learning the rules and guidelines of Elliot Wave theory (ElliotWave dot com is a good place to start) before relying on any indicators.
A quick glance at your chart has a wave 3 shorter than wave 1 and 5 -Wave 3 can never be the shortest; the 2 and 4 labels are where the 1 and 3 labels should be; wave 5 is labelled corrective (overlapping waves moving against the main trend) - this should be labelled wave 4 or some other corrective variant.
Waves are fractal and therefore work on all time scales. That is why a monthy chart looks essentially the same as a one minute chart and why an ABC correction can contain two impulsive 5 wave advances that can trick you as to the real trend direction.
You should always zoom out to a larger time frame to identify a major top or bottom before you start counting.
If you zoom this chart out to a 4hr, you will see that this current downtrend started after a probably corrective ABC (larger A or 4 wave) advance in the pound.
The wave that is counted by the indicator on your chart is part of either the resumption of the larger downtrend (it has currently finished 5 down on a smaller time scale so this is more likely) or just a larger B wave that is part of an even larger correction UP.
You won't know for sure until it begins a surge higher in a wave C or takes out the previous low at around 1.744.
Regardless, the indicator has labelled this wave as a triangle (ABCDE). Triangles are normally horizontal with perhaps a slight bias against the main trend. The waves get progressively smaller or compressed (E is shorter than D which is shorter than C etc) before they blast out of the point of the triangle, usually in the direction of the previous trend.
Looking at a Weekly chart of the pound, it is right now either in the process of finishing the 5th wave of a larger wave 3 of an even larger wave 1, which means it needs to do a wave 4 then a wave 5 before doing a huge wave 2 correction...
OR it is has finished a very large ABC correction down..
and is now either resuming the previous uptrend or an even larger B wave up.
As you can see there is alot of eithers and ors going on but Elliot Wave allows you to objectively assess possible future price movements, with objective price targets (fibonnacci relationships between the waves - a whole other discussion) that tell you both where you are wrong and where you are right.
I have included a weekly chart with two possible counts from the 2.12 top, and a 15min chart with a count that is closer to reality than the indicator, because it fits with the larger count produced from the weekly chart.
Thanks for your input and lesson, ffwuc. I will learn it then the normal way .... try till you get it right.
According to the principle : wave2 corrects wave1, but can never extend beyond the starting point of wave1 --- always or not?
wave3 is normally the longest --- yeah or neah?
wave4 is corrective of wave3 and normally do not retrace more than 38.2%
wave5 is final direction of main trend
So according to your chart M30, the trend is finished? Did you draw wave1(i) from the top down and then marked it 1(i) -or- did you mark wave1(i) from where you marked 1(i) to 2(ii)?
Last edited by Jnita, Oct 1, 2008 1:42pm
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#514
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Jnita
Member
Member Since Jun 2008
354 Posts
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I think i found the answer by looking at other charts in this thread.
wave(i) is marked once the wave is finished... ect.
Thanks for your assistance.
Regards,
J
ps. how do you get your lables to stick on your MT4 chart, cause once the chart moves lables don't stay in place?
Last edited by Jnita, Oct 1, 2008 2:04pm Reason: added ?
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#515
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 1, 2008 2:53pm
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
4 hours chart for bigger picture.
When i look at 4H chart i agree with you that now we're in AB* correction.
But when i look at monthly, weekly, daily charts i prefer the scenario that the correction is already finished and now we are in the 3rd wave. So i believe that there will be lower price than your 5th wave.
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#516
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 1, 2008 8:22pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by valius http://www.forexfactory.com/images/buttons/viewpost.gif
When i look at 4H chart i agree with you that now we're in AB* correction.
But when i look at monthly, weekly, daily charts i prefer the scenario that the correction is already finished and now we are in the 3rd wave. So i believe that there will be lower price than your 5th wave.
Hi valius,
Your point is very much valid, anyway we are in same direction.
Pls post your chart for us, its easy to see and understand with charts.
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#517
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 4:14am
http://www.forexfactory.com/nfs/avatar57903_1.gifvalius
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi valius,
Your point is very much valid, anyway we are in same direction.
Pls post your chart for us, its easy to see and understand with charts.
Sorry, i didn't have much time yesterday(today also). Anyway here's my quick count:
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153650&stc=1&thumb=1&d=1222935203
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#518
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 12:46pm
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http://www.forexfactory.com/images/icons/icon1.gif gbp aud
hi
gbp aud end of wave b
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#519
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 12:47pm
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http://www.forexfactory.com/images/icons/icon1.gif eur gbp
eur gbp
wave 5
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#520
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 5:51pm
ffwuc
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22 Posts
http://www.forexfactory.com/images/icons/icon1.gif Answers to questions.
Jnita
To answer your questions.
According to the principle : wave2 corrects wave1, but can never extend beyond the starting point of wave1 --- always or not?
wave3 is normally the longest --- yeah or neah?
wave4 is corrective of wave3 and normally do not retrace more than 38.2%
wave5 is final direction of main trend
So according to your chart M30, the trend is finished? Did you draw wave1(i) from the top down and then marked it 1(i) -or- did you mark wave1(i) from where you marked 1(i) to 2(ii)?
Always. If wave 2 extends beyond wave 1 starting point then its not wave 2 and not wave 1 either, but some other count.
However these are normally very good low risk trades if correct because you put your stop just below the starting point of the possible wave 1. If you are wrong you haven't lost much, but if you are right the next wave is a 3 which is normally the longest and fastest moving.
Yeah, wave 3 is normally the longest but can never be the shortest except when it falls within an ending diagonal triangle of a wave 5 or a leading diagonal triangle of a wave 1 of one higher degree. For example you could have an extended wave 5 (commodities usually do this) that is longer than the wave 3 but wave 1 must be shorter than wave 3 for this to be an impulsive wave.
Yes, wave 4 is corrective of wave 3. 38.2% retrace is a good guideline, so is the smaller wave iv inside the above wave 3, but the rule is that wave 4 can't enter (overlap) the price territory of wave 1 (except in an ending or leading diagonal triangle of a wave of one higher degree). Also Wave 4s are usually triangles and wave 2s are deeper ABCs, plus they alternate their shapes.
Wave 5 is the last wave of a trend direction.
When I made that 30 min chart, the pound was doing a smaller wave 4 so I guesstimated the position of the wave 5. As it turns out (and I have attached a chart) that wave 5 has extended to form a smaller ending diagonal triangle.
The pattern is clearer than it was a couple of days ago. The wave 4 triangle theory has now been ruled out and the pound is probably going to form a larger wave 5 which itself will probably be an ending diagonal triangle before it surges into the huge wave 2 correction.
Pound will probably hit 1.70 before it starts the correction and it may take a month or more to get there. This corresponds with the outcome of the US elections. Hence more certainty about the future. (On a weekly chart 1.700 also corresponds with the bottom of the previous wave 4 of C up to 2.12.)
The impending wave 2 surge from 1.70 will trick people into believing that good times are ahead for the pound before the devastating (only if you stay long the pound) wave 3 starts, probably mid next year sometime.
If you zoom way out to a monthly chart, the move from 2.45 down to 1.01 (1978-1983) looks very impulsive - (wave 1?), but the wave 3 is shortest so its more like a corrective ABC of a larger A or even a massive triangle. Regardless, the move from 1.01 to 2.12 since 1983 is definitely corrective. So the pound may be about to start a huge wave C or 3 of a 5 that will last for a couple of years once it has finished the wave 2 surge that is due to start in a month or so. Pound at or below parity in a couple of years?!
See the attached chart of the pound from 1791 created from data from http://www.measuringworth.org/exchangepound/. Even on a 200 year time scale with lots of govt pegging, waves are still discernable. It looks like the pound is correcting in a wave 4 from the 1983 bottom.
I always start the count from the previous significant top or bottom. You zoom out to a larger time scale first to find roughly where you are, then keep zooming in to the time frame that you want to analyse. The counts should match on all the time scales that you have, based on the amount of data that you have.
To answer your next question - use the 'A' TEXT button and not the T TEXT LABEL button on your line studies toolbar to stop your labels moving.
If you want to get extremely esoteric about wave theory then check out Glenn Neely's book Mastering Elliot Wave at neowave dot com.
Both Prechter and Neely are considered the top EW experts but they want your money for books and services. If you want to keep your cash for trading, Duncan Davidson has some insights into what they are saying in their "pay per view" newsletters at http://yelnick.typepad.com .
I don't know any of these people so I am not trying to endorse them or get kickbacks. I find their free resources useful. Your local library may have copies of books too.
Quote:
Originally Posted by ffwuc http://www.forexfactory.com/images/buttons/viewpost.gif
Thanks for your input and lesson, ffwuc. I will learn it then the normal way .... try till you get it right.
According to the principle : wave2 corrects wave1, but can never extend beyond the starting point of wave1 --- always or not?
wave3 is normally the longest --- yeah or neah?
wave4 is corrective of wave3 and normally do not retrace more than 38.2%
wave5 is final direction of main trend
So according to your chart M30, the trend is finished? Did you draw wave1(i) from the top down and then marked it 1(i) -or- did you mark wave1(i) from where you marked 1(i) to 2(ii)?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153903&stc=1&thumb=1&d=1222979585 http://www.forexfactory.com/attachment.php?attachmentid=153913&stc=1&thumb=1&d=1222982072
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#521
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 8:37pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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AudUsd
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#522
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 8:44pm
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif for review
for review
Attached Fileshttp://www.forexfactory.com/images/attach/pdf.gifAUD- USD GET COUNT (1).pdf (33.5 KB, 61 views)http://www.forexfactory.com/images/attach/pdf.gifCD- USD GET COUNT.pdf (40.0 KB, 36 views)http://www.forexfactory.com/images/attach/pdf.gifEU- USD GET COUNT.pdf (33.6 KB, 72 views)http://www.forexfactory.com/images/attach/pdf.gifGOLD GET COUNT.pdf (37.5 KB, 44 views)http://www.forexfactory.com/images/attach/pdf.gifYEN- USD GET COUNT.pdf (50.8 KB, 41 views)http://www.forexfactory.com/images/attach/pdf.gifTEN YEAR GET COUNT.pdf (49.8 KB, 38 views)http://www.forexfactory.com/images/attach/pdf.gifSILVER GET COUNT.pdf (45.6 KB, 25 views)
Oct 3, 2008 6:20am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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UsdChf chart.
Double top at 1.1417
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=154108&stc=1&thumb=1&d=1223029185
http://www.forexfactory.com/images/buttons/quote.gif #527
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 3, 2008 6:52am
ffwuc
Member
Member Since Aug 2006
22 Posts
http://www.forexfactory.com/images/icons/icon1.gif Pound correcting in wave 2
Pound correcting in wave 2 of large possible wave 5 after completing wave 1 . NFP numbers are forecast to be bad for USD so fits with that. A of 2 could be all of 2, but as this may be a big ending diagonal 5 the correction should be deeper, up to 1.82 (50% retrace) at least. Count still valid above 1.7550
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=154169&stc=1&thumb=1&d=1223041533
Last edited by ffwuc, Oct 3, 2008 9:46am Reason: recent price action
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#528
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 3, 2008 10:38am
Tmac
work in progress
Member Since Oct 2007
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Tmac,
Interesting count for Aussie and EurUsd pair.
look where they are today along with chf
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#529
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 3, 2008 10:41am
Tmac
work in progress
Member Since Oct 2007
http://www.forexfactory.com/images/misc/6kt.gif747 Posts
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here are the updates for them
Attached Fileshttp://www.forexfactory.com/images/attach/pdf.gifAUD- USD DAILY GET COUNT.pdf (27.4 KB, 60 views)http://www.forexfactory.com/images/attach/pdf.gifEU- USD DAILY GET COUNT.pdf (29.9 KB, 83 views)
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#530
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 3, 2008 10:47am
Tmac
work in progress
Member Since Oct 2007
http://www.forexfactory.com/images/misc/6kt.gif747 Posts
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gold cad and yen for review
I post these for review only, if they agree with you then fine, there is always an alternate count and no real right or wrong in EW
I only post the ones that agree with my own analysis
Daily gives you the clearest count IMO
Attached Fileshttp://www.forexfactory.com/images/attach/pdf.gifYEN- USD DAILY GET COUNT.pdf (35.3 KB, 54 views)http://www.forexfactory.com/images/attach/pdf.gifCD- USD DAILY GET COUNT.pdf (33.1 KB, 43 views)http://www.forexfactory.com/images/attach/pdf.gifGOLD GET COUNT.pdf (29.2 KB, 50 views)
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#531
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 5, 2008 2:02pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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AudUsd chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=154554&stc=1&thumb=1&d=1223229745 http://www.forexfactory.com/attachment.php?attachmentid=154555&stc=1&thumb=1&d=1223229745
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#532
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 5, 2008 6:48pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Hi all,
my count for UsdJpy.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=154594&stc=1&thumb=1&d=1223246872
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#533
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 5, 2008 8:00pm
http://www.forexfactory.com/nfs/avatar62502_1.gifFxtree
I DEMOED WITH REAL CASH
Member Since Feb 2008
57 Posts
http://www.forexfactory.com/images/icons/icon1.gif elliott wave
please do you know of any website were i can learn how to use Elliott wave,or do you have any e book on Elliott wave,i will highly appreciate it if your response is positive.cheers
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#534
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 5, 2008 8:53pm
http://www.forexfactory.com/nfs/avatar68749_1.gifmphpopular
My first 100k
Member Since May 2008
http://www.forexfactory.com/images/misc/1kt.gif960 Posts
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Quote:
Originally Posted by Fxtree http://www.forexfactory.com/images/buttons/viewpost.gif
please do you know of any website were i can learn how to use Elliott wave,or do you have any e book on Elliott wave,i will highly appreciate it if your response is positive.cheers
PM me your email. WIll send you one.
__________________
Trendline I've drawn
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#535
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 6, 2008 9:48am
fontu
Senior Member
Member Since Mar 2008
661 Posts
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Quote:
Originally Posted by mphpopular http://www.forexfactory.com/images/buttons/viewpost.gif
PM me your email. WIll send you one.
me too want some information, pm sent .
fontu
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#536
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 7, 2008 8:30am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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EurGbp
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155194&stc=1&thumb=1&d=1223382594
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#537
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 7, 2008 9:19am
http://www.forexfactory.com/nfs/avatar57903_1.gifvalius
Member
Member Since Jan 2008
31 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
EurGbp
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I am almost to short this pair... just waiting for some confirmation.
__________________
You will fight how you train
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#538
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 7, 2008 4:38pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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GbpJpy chart in 5mins..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155315&stc=1&thumb=1&d=1223411923
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#539
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 7, 2008 5:32pm
UniqTrader
Member
Member Since Oct 2008
15 Posts
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if use elliote for eurousd 1.35 is the end of the 5th wave...and it'll be 3 wave correction to nearly 1.45 during a few months I think...
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#540
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 7, 2008 10:38pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Hi all,
UsdCad chart.
w-C is equal to w-A.
w-C stopped at green dotted trend line.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155399&stc=1&thumb=1&d=1223433470
Last edited by Blue bottle, Oct 7, 2008 11:56pm
Oct 7, 2008 10:55pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Possible count for cable.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155402&stc=1&thumb=1&d=1223434508
http://www.forexfactory.com/images/buttons/quote.gif #542
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 8, 2008 5:58am
fontu
Senior Member
Member Since Mar 2008
661 Posts
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Quote:
Originally Posted by mphpopular http://www.forexfactory.com/images/buttons/viewpost.gif
PM me your email. WIll send you one.
Thanks mphpopular for the send ,I am very pleased with you & hope will learn more & more from this thread & other experts .
I see lots of veriations in the waves those make me confused and as I got no indicator or templates free ( all costly to me ) & took some others related free as I need to short cut of the learning & use it effectively.
among them ew oscillator-arrow,signal and also have zigzag, fibo( not know though ) and zigzag_esign_fibo perhaps going to help primarily before I understand ew properly.
Anything can short cut my learning with so complcated way?
fontu
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#543
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 8, 2008 6:32am
http://www.forexfactory.com/nfs/avatar68749_1.gifmphpopular
My first 100k
Member Since May 2008
http://www.forexfactory.com/images/misc/1kt.gif960 Posts
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Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
Thanks mphpopular for the send ,I am very pleased with you & hope will learn more & more from this thread & other experts .
I see lots of veriations in the waves those make me confused and as I got no indicator or templates free ( all costly to me ) & took some others related free as I need to short cut of the learning & use it effectively.
among them ew oscillator-arrow,signal and also have zigzag, fibo( not know though ) and zigzag_esign_fibo perhaps going to help primarily before I understand ew properly.
Anything can short cut my learning with so complcated way?
fontu
No shortcut I guess, EW is built up by experience and study. You study at the earlier phase, then application, every day your experience built up brick by brick. For sure, you wont regret for having that experience, the experience will be the basic that makes you another millionaire
__________________
Trendline I've drawn
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#544
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 1:53am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
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Hi guys,
first of all, many thanks to Blue Bottle for starting this thread and others for contributions! Great charts, great advice for an EW noob like me!
Here is my "first" trial for euro. I'm pretty happy with it, everything seems to fit together... If my counting is ok, we should now be entering the B-leg of this correction. Feedback please!
What is the smallest tf that you include in your counts? I tried to count this correction on 1h, but it just did not work out, so I had move to 30min and occasionally to 15min charts. Grega seems to count on 1h and up, but is there then a risk that you loose some details that are meaningful? For instance, I do not quite agree with his recent euro correction count...
R
http://www.forexfactory.com/attachment.php?attachmentid=155810&thumb=1&d=1223531470
Last edited by Rocroy, Oct 9, 2008 2:06am
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#545
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 2:43am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
http://www.forexfactory.com/images/misc/10kt.gif206 Posts
http://www.forexfactory.com/images/icons/icon7.gif Excellent USD/CAD chart
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all, UsdCad chart.
w-C is equal to w-A.
w-C stopped at green dotted trend line.
Excellent USD/CAD chart, you have a good eye for correct counts.
__________________
- FXoffshore http://www.forexfactory.com/images/smilies/yim/happy.gif
"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#546
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 3:23am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
Eliot wave trader
Member Since Aug 2008
http://www.forexfactory.com/images/misc/1kt.gif125 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Possible count for cable.
hi end wave 3 =1.5716
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155825&stc=1&thumb=1&d=1223536970
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#547
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 3:35am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
http://www.forexfactory.com/images/misc/10kt.gif206 Posts
http://www.forexfactory.com/images/icons/icon14.gif first EW chart
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
Here is my "first" trial for euro. I'm pretty happy with it, everything seems to fit together... If my counting is ok, we should now be entering the B-leg of this correction. Feedback please!
What is the smallest tf that you include in your counts? I tried to count this correction on 1h, but it just did not work out, so I had move to 30min and occasionally to 15min charts. Grega seems to count on 1h and up, but is there then a risk that you loose some details that are meaningful? For instance, I do not quite agree with his recent euro correction count...
Attachment 155810
Your chart is well done, way to good for a first chart.
It looks like a w.B triangle is forming, or flat? I have this small w.ii correction in an extended small w.III (1,2; i,ii....)
Smallest time frame? I can chart perfectly well in larger time frames, and even as low as 1 minute TF - in bar view, minimized to the tightest/smallest view. The purest will argue, but the fact remains that larger time frames have sampling errors, therefore the more data points you have the better the waves show. Like a picture in a newspaper at 50 dots per inch, vs a digital camera print at 6000 dpi - same thing, but better resolution helps. Plus I would add that waves are fractal, large waves are made of related smaller waves, which are made of related smaller waves - the limitation is the data.
Grega is a talented EW chartist, very helpful, and has a highly recommended subscription service at a reasonable cost. Good charts to study.
Keep posting your EW charts! http://www.forexfactory.com/images/smilies/yim/happy.gif
__________________
- FXoffshore http://www.forexfactory.com/images/smilies/yim/happy.gif
"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#548
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 3:42am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
Eliot wave trader
Member Since Aug 2008
http://www.forexfactory.com/images/misc/1kt.gif125 Posts
http://www.forexfactory.com/images/icons/icon1.gif gold
gold m
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155826&stc=1&thumb=1&d=1223538125
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#549
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 4:58am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
Eliot wave trader
Member Since Aug 2008
http://www.forexfactory.com/images/misc/1kt.gif125 Posts
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usd chf
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155845&stc=1&thumb=1&d=1223542661
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#550
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 5:03am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
Eliot wave trader
Member Since Aug 2008
http://www.forexfactory.com/images/misc/1kt.gif125 Posts
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gbp usd 15m
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155846&stc=1&thumb=1&d=1223542970
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#551
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 6:46am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
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Thanks for the encouragement and advice, it is surely needed! http://www.forexfactory.com/images/smilies/yim/happy.gif
Imo we are still in first corrective subwave (?) A. So completion of this corrective wave 4, what Grega proposes in his last chart, still is imo pretty far ahead. The chart below shows my (failed) counting.
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Your chart is well done, way to good for a first chart.
It looks like a w.B triangle is forming, or flat? I have this small w.ii correction in an extended small w.III (1,2; i,ii....)
Smallest time frame? I can chart perfectly well in larger time frames, and even as low as 1 minute TF - in bar view, minimized to the tightest/smallest view. The purest will argue, but the fact remains that larger time frames have sampling errors, therefore the more data points you have the better the waves show. Like a picture in a newspaper at 50 dots per inch, vs a digital camera print at 6000 dpi - same thing, but better resolution helps. Plus I would add that waves are fractal, large waves are made of related smaller waves, which are made of related smaller waves - the limitation is the data.
Grega is a talented EW chartist, very helpful, and has a highly recommended subscription service at a reasonable cost. Good charts to study.
Keep posting your EW charts! http://www.forexfactory.com/images/smilies/yim/happy.gif
http://www.forexfactory.com/attachment.php?attachmentid=155882&thumb=1&d=1223548985
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#552
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 8:06am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
Hi guys,
first of all, many thanks to Blue Bottle for starting this thread and others for contributions! Great charts, great advice for an EW noob like me!
Here is my "first" trial for euro. I'm pretty happy with it, everything seems to fit together... If my counting is ok, we should now be entering the B-leg of this correction. Feedback please!
What is the smallest tf that you include in your counts? I tried to count this correction on 1h, but it just did not work out, so I had move to 30min and occasionally to 15min charts. Grega seems to count on 1h and up, but is there then a risk that you loose some details that are meaningful? For instance, I do not quite agree with his recent euro correction count...
R
Hi Rocroy,
I cant believe it was your first chart. Well done!! http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Keep posting.
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#553
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 9:56am
Tmac
work in progress
Member Since Oct 2007
http://www.forexfactory.com/images/misc/6kt.gif747 Posts
http://www.forexfactory.com/images/icons/icon1.gif updated charts
then and now
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=155932&stc=1&thumb=1&d=1223560529 http://www.forexfactory.com/attachment.php?attachmentid=155933&stc=1&thumb=1&d=1223560529
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#554
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 9, 2008 10:08am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
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Trading becomes very easy, if your counting is right...
Here's an example of geppy, last 5th wave should drop to 171 at least - below 4th wave. Tight sl can be placed at wave 1 bottom.
R
http://www.forexfactory.com/attachment.php?attachmentid=155934&thumb=1&d=1223560892
Oct 10, 2008 12:00am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
http://www.forexfactory.com/images/icons/icon1.gif
The counting is now almost finished and we should see some corrective moves up. Notice the 161 fib support. Excellent trading setup building up again.
R
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
Trading becomes very easy, if your counting is right...
Here's an example of geppy, last 5th wave should drop to 171 at least - below 4th wave. Tight sl can be placed at wave 1 bottom.
R
Attachment 155934
http://www.forexfactory.com/attachment.php?attachmentid=156180&thumb=1&d=1223611195
http://www.forexfactory.com/images/buttons/quote.gif #560
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 10, 2008 5:39am
http://www.forexfactory.com/nfs/avatar69953_1.giffanias
zoopy turtle / wave follower
Member Since May 2008
35 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Hi guys,
first of all sorry for my bad english. I am new to EW count and this is my first chart to share with you. Eurusd 5 min is it valid?
Your opinion please
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=156264&stc=1&thumb=1&d=1223631491
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#561
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 10, 2008 7:06am
http://www.forexfactory.com/nfs/avatar69953_1.giffanias
zoopy turtle / wave follower
Member Since May 2008
35 Posts
http://www.forexfactory.com/images/icons/euro.gif update eurusd
if a = c then possible target 1.3670 http://www.forexfactory.com/images/smilies/yim/winking.gif in 5 min timeframe
lets see
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#562
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 10, 2008 8:19am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
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Thanks again for the advice http://www.forexfactory.com/images/smilies/yim/happy.gif Understanding and counting corrections correctly is a must for good entries.
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Impulses are easy, and it is where we make money. But your 'set up' waves are 2, 4, and B, so you have to know all the nuances of their patterns, to enter. The classic trade is after a small 5 wave impulse, then set up is - count 3 wave correction in same degree, then enter after wave C is complete. Lowest risk, highest reward trade.
Corrections, especially large degree 4th waves like EUR/USD was in this spring, require several alternate counts until you can rule them out. It helps to study the currency you trade, and make screen shots of real formations in the time frame you trade, so you can print and post it nearby. Start with text book examples, but move into a dozen real samples of flats, triangles, and zig-zags that you can reference in real time as they happen.
Short course, if it is not an impulse by the rules, then it is a corrective pattern.
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#563
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 10, 2008 8:42am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Tmac http://www.forexfactory.com/images/buttons/viewpost.gif
then and now
Excellent count Tmac. http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#564
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 10, 2008 8:44am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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My cable chart.
I believe we are in wave 5.
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Oct 12, 2008 11:04am
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif aussie daily
for review only from the 8th
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 11:05am
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif Euro
for review only from the 8th
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#575
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 11:05am
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif orange juice
for review only from the 8th
good money in OJ
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#576
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 11:07am
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif UJ
for review only from the 8th
T-bonds
T-notes
Nikkei
silver
corn gold copperand more, all available if you want it ask
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#577
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 12:10pm
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EurGbp chart.
We may be in ABC correction here..
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#578
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 12:19pm
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EurGbp H1 chart.
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#579
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 1:00pm
http://www.forexfactory.com/nfs/avatar39038_1.gifovaforty
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The market is being controlled by panic and fear. Markets are spooky. Things are so scary, that the world's government leaders are meeting to solve this crisis, if possible.
Smart money has a Risk Aversion Sentiment strategy.
We need to see this sentiment subside before any meaningful trend changes are to occur.
Stand aside with cash ready to exploit some no-brainer trade opportunities this week.
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#580
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 2:01pm
fontu
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http://www.forexfactory.com/images/icons/icon1.gif just try put # , if correctly done
I try to put # eurgbp chart & want to know if they are correct . I am very new to learn EL.
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#581
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 2:37pm
pipeye
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149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
Looks as if we are in (v) of 5 of III (or C), possible to be complete at 1.6500-1.6550 area. The 61.8% of 1.3680-2.1143 on the Monthly is @ 1.6519. This lines up nicely with some support targets on the 1 hr, and may be a good launching spot for a sizeable wave IV retracement up to previous wave 4 of III around 1.8671. Any thoughts?
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#582
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 8:49pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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GbpJpy in small tf.
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#583
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 9:04pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by ovaforty http://www.forexfactory.com/images/buttons/viewpost.gif
The market is being controlled by panic and fear. Markets are spooky. Things are so scary, that the world's government leaders are meeting to solve this crisis, if possible.
Smart money has a Risk Aversion Sentiment strategy.
We need to see this sentiment subside before any meaningful trend changes are to occur.
Stand aside with cash ready to exploit some no-brainer trade opportunities this week.
Totally agree.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#584
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 11:10pm
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Us Dollar
Elliott Waves Formations
Volatility are is your friend ...............http://www.forexfactory.com/images/smilies/yim/happy.gif!
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#585
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 12, 2008 11:58pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi all,
This UsdJpy chart from other forum.
Posting here for reference..
PS: Thanks Brad_1199 for the chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=156877&stc=1&thumb=1&d=1223870265
Oct 13, 2008 3:32am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable 5min setup.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=156922&stc=1&thumb=1&d=1223883157
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 4:09am
Rocroy
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My 5th wave count is a bit different... according to it wave5 is complete. Comments?
R
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
My cable chart.
I believe we are in wave 5.
http://www.forexfactory.com/attachment.php?attachmentid=156936&thumb=1&d=1223885380
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#588
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 4:20am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
My 5th wave count is a bit different... according to it wave5 is complete. Comments?
I agree with your count, looks like a good call. http://www.forexfactory.com/images/smilies/yim/happy.gif
Do you follow EUR/USD as well with a chart?
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#589
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 4:32am
Rocroy
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usdchf chart, time to go south?
R
http://www.forexfactory.com/attachment.php?attachmentid=156938&thumb=1&d=1223886756
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#590
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 4:49am
Rocroy
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Sure, their moves look much the same at the moment. Perhaps both are creating another triangle again, that is at least what cable seems to doing.
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
...
Do you follow EUR/USD as well with a chart?
http://www.forexfactory.com/attachment.php?attachmentid=156946&thumb=1&d=1223887406
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#591
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 5:08am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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http://www.forexfactory.com/images/icons/icon1.gif Swissy ALT view
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
usdchf chart, time to go south?
Perhaps not?
Consider this alternate count, based on relations with other major currencies and USD Index. DX and CHF low was probably wave 3, and then had a failed wave 5 = 'truncated'.
So in you Swissy chart, ALT = change your w.a to w.4, and w.b to w.5
Then the big move up was a wave 1 rocket, and we are now in w.3 or an extension in w.3
Try that out, see what you think. Makes you careful about going short if we are in a w.3 rocket. Same applies for EUR/USD http://www.forexfactory.com/images/smilies/yim/happy.gif
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#592
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 6:22am
Rocroy
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True, that is a possible scenario. On the other hand, I believe Elliot said that "the simplest pattern is likely to be the correct explanation most of the time". So I stick to my plan, but keep in mind your alternative and wait for further PA.
Thanks,
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Perhaps not?
Consider this alternate count, based on relations with other major currencies and USD Index. DX and CHF low was probably wave 3, and then had a failed wave 5 = 'truncated'.
So in you Swissy chart, ALT = change your w.a to w.4, and w.b to w.5
Then the big move up was a wave 1 rocket, and we are now in w.3 or an extension in w.3
Try that out, see what you think. Makes you careful about going short if we are in a w.3 rocket. Same applies for EUR/USD http://www.forexfactory.com/images/smilies/yim/happy.gif
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#593
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 6:46am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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By all means, stick to your plan, just sharing alternate views. I had the same count as you, and moved it one back because the first wave is too small and dwarfed by the 5th, when they should be equal ideally. And again, when you line up Dollar Index, Oil, Gold, Yen, Eur, and GBP, they share common dates when they finished moves that is hard to ignore. Time will tell,
What Elliott said was to use the count that fits the most rules. (and breaks the fewest guidelines)
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#594
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 7:55am
nms
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6 Posts
http://www.forexfactory.com/images/icons/yen.gif JPY Charts
Dear All,
I have posted my counts on USDJPY.
Eager to get comments on my charts!!..
Rgds,,
Muthu
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=156999&stc=1&thumb=1&d=1223898838 http://www.forexfactory.com/attachment.php?attachmentid=157000&stc=1&thumb=1&d=1223898838
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#595
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 9:14am
pipeye
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149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
Is it possible that we have completed wave C of the correction, or have we just completed wave 3 of 5 down?
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#596
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 13, 2008 11:53pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
My 5th wave count is a bit different... according to it wave5 is complete. Comments?
R
Attachment 156936
Agree with your chart.
I made mistake in w-5, will be more careful in future.
Thanks for correcting my counts.
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#597
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 14, 2008 12:00am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable..
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#598
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 14, 2008 12:10am
Rocroy
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Well, it happens. I've had "a few" in my charts, and surely a few is still there waiting for @#?!! and corrections http://www.forexfactory.com/images/smilies/yim/happy.gif
R
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Agree with your chart.
I made mistake in w-5, will be more careful in future.
Thanks for correcting my counts.
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#599
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 14, 2008 12:40am
nms
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Cable..
Totally agree..with your counts..
a clear five wave move....we can see a three wave correction near to 1.73 levels..i hope..
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#600
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 14, 2008 12:54am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by bitrader http://www.forexfactory.com/images/buttons/viewpost.gif
http://forekc.blogspot.com/
targets 1.7180 or 1.7370
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Target reached. good job!!
Oct 14, 2008 9:23pm
Rocroy
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I wonder if this correction A count is right or wrong... those weekend gaps give some challenge. Any other views?
R
http://www.forexfactory.com/attachment.php?attachmentid=157657&thumb=1&d=1224033727
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 1:21am
fontu
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661 Posts
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Good analysis & hope correct. Though I am very new to learn EW I see my chart after completing A wave now it is forming the B wave & in c correction of the subwaves of A or in subwave 4 of B , do not know if possible without abc correction it can run 1-5 waves again or how many way a single wave should count anywhere??
fontu
Last edited by fontu, Oct 15, 2008 1:47am
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#604
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 7:42am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi all,
my cable chart.
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#605
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 7:55am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
I wonder if this correction A count is right or wrong... those weekend gaps give some challenge. Any other views?
R
Attachment 157657
I think your count is correct.
The gap i took it as wave 1, but not so sure abt it too..
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#606
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 7:56am
Rocroy
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Looks good http://www.forexfactory.com/images/smilies/yim/happy.gif
There is a change that price takes a dip down first, eg. to previous hl, as there is no real a-b-c in wave4. Anyhow your target is imo ok, could be somewhere between 7750-7800?
R
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all,
my cable chart.
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#607
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 7:57am
Rocroy
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Ok, thanks http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
I think your count is correct.
The gap i took it as wave 1, but not so sure abt it too..
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#608
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 11:37am
fontu
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661 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
I think your count is correct.
The gap i took it as wave 1, but not so sure abt it too..
I counted above the gap as A instead 1 then B & big C with all el subwaves .
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fontu
Last edited by fontu, Oct 15, 2008 12:15pm
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#609
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 15, 2008 2:48pm
Rocroy
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Ok, I guess that often there are possibilities for different counts. But then this becomes a problem, if these different ways of counting are proposing different next moves - one says price is going up, the other one says it is going down...
R
Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
I counted above the gap as A instead 1 then B & big C with all el subwaves .
http://www.gogetin.info/euel2.gif
fontu
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#610
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 16, 2008 12:50am
fontu
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661 Posts
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
Ok, I guess that often there are possibilities for different counts. But then this becomes a problem, if these different ways of counting are proposing different next moves - one says price is going up, the other one says it is going down...
R
Now eu at 1.3357 as expected in c wave or even can be B wave ( most likely ) and waiting to finish it before go up to form C to go UP above 1.3785 ( A) .
Sorry Au is identical to eu I mention here Eu prices .In Au prices at 0.6698 bounce back from lowest 0.6494 either it already in C wave or even the B wave may not be finished then it go much down to 0.6494 to finish subwave (5) of B to go up again to form big C much beyound 0.7236 ( A)
http://www.gogetin.info/auel22.gif
Yes diferrent counts make problem to me as I am very new & no time go through all those books or time consuming courses.The smallest tf should have the smallest waves those can be counted without any confusion & every time they should confirm the original count in different tf also as changes in lowest tf ultimately represented in higher tf .
Anyway still know lots & experts are not coming to disclose their secrets & I am more confident that using ELW perfect way can make more pips every time It goes , that is one can take pips in every single wave it forms , anytime go to the market & earn only when it counts perfectly.
fontu
Last edited by fontu, Oct 16, 2008 1:14am
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#611
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 16, 2008 2:24am
Rocroy
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Looks like the correction is complete now. It was almost impossible to count the final waves, so there is a change that euro wants to visit that 161 fib line first and heads north after that is done.
In a bigger perspective euro may continue consolidation for some time, because of this economic hassle going on. So that might give us a double zigzag - or is it a sprint up? Let's wait and see ...
R
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#612
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 16, 2008 8:28am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable chart.
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#613
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 16, 2008 8:53am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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NzdUsd.
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#614
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 17, 2008 2:37am
http://www.forexfactory.com/nfs/avatar79975_2.gifmy30marahaba
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464 Posts
http://www.forexfactory.com/images/icons/icon5.gif new trader learned of elliot wave
Dear blue and others,
would you please correction me if i made wrong calculation of UJ using elliot wave method.
your kindly comment and correction is very much appreciated ....
here my chart of UJ H4.
Best Regards,
my30marahabahttp://www.forexfactory.com/images/smilies/peace.gifhttp://www.forexfactory.com/images/smilies/yim/thinking.gif
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#615
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 19, 2008 7:26am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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EurChf
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Oct 19, 2008 7:35am
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EurUsd
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 19, 2008 8:40am
Lenoxer
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http://www.forexfactory.com/images/icons/icon1.gif Hello
Has anyone ever used Refined Elliott Trader by Richard Swannell?
Thanks,
Lenoxer
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#618
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 19, 2008 11:51am
fontu
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661 Posts
http://www.forexfactory.com/images/icons/icon1.gif EU
started learning it actually.
Just now I see the eurusd chart in 2 tf, M30 & H1 , they tell different story & again after 1 full sets of movements the next one will start unfolding & may be we are in the transition period.
See M30 chart:
http://www.gogetin.info/eu30el1.gif
There is bearish divergence, completed a diagonal triangle ( as can be point as wave 4), & most possibly continuation of the downtrend to some extent perhaps .
See H1 chart
http://www.gogetin.info/eu1el1.gif
Bullish divergence,the big correction wave B possibly finished & already started the Big C wave to go much up . Not impossible that Big B not yet finished ,triangle break downside correctly to a new low to form the new B & then again go up to create C . Then only both tf charts fit .
So probable movements , first retest bottom of B (1.3340 )break to go much down say 1.32 or less,have a bottom & start up towarsd 1.3682 or up if fundaments supports so.
With oil if go up this week ,bring the EU with it & this movements are not impossible .Range should be 1.32 to 1.36 when taking consideration of all aspects moderately.
If do aggressively then they should be 1.30 to 1.4
Please give your opinion in this respect , we may not follow this analysis into trades but can follow up the results together.
fontu
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#619
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 12:24am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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GbpJpy chart
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#620
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 2:08am
pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
GbpJpy chart
hi blue.
i have the same count on ABC correction on guppy, and eu.
i think same ABC correction can be seen on uj and cable as well.
do you agree?
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#621
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 2:45am
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http://www.forexfactory.com/images/icons/icon1.gif Gold
Hey guys, whats up? I am just jumping around a litlle and decided to put some gold chart in to this threat.
This gold has been pretty tricky since the new yearly lows. Fisrtly I was looking for a possible a-b-c-d-e triangle in wave II. But now when are prices down at 76.4% Fibo support looks like we have the zig zag correction with the irregular b. The fisrt signs of the bulls could already be here as the market broke the trend lines. But I suggest you to be patient, form my experineces, market always need a lot of room around this 76.4% support, because it can happen that it wont tested thsi leve only once. However, the risk and award is loking pretty good...
If the oil breaks the support at $70 and euro pushes below 1.3350 then we may also see new lows on the gold...But in this situattion I am hopping on flat on the gold, because otherwise I will need to change my wave count, cause this one will be invalidated.
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Last edited by lancelot41, Oct 20, 2008 2:59am
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#622
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 2:52am
pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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Quote:
Originally Posted by lancelot41 http://www.forexfactory.com/images/buttons/viewpost.gif
Hey guys, whats up? I am just jumping around a litlle and decided to put some gold chart in thsi threat.
This gold has been pretty tricky since the new yearly lows. Fisrtly I was looking for a possible a-b-c-d-e triangle in wave II. But now when are prices down at 76.4% Fibo support looks like we have the zig zag correction with the irregular b. The fisrt signs of the bulls could already be here as the market broke the trend lines. But I suggest you to be patient, form my experineces, market always need a lot of room around this 76.4% support, because it can happen that it wont tested thsi leve only once. However, the risk and award is loking pretty good...
If the oil breaks the support at $70 and euro pushes below 1.3350 then we may also see new lows on the gold...But in this situattion I am hopping on flat on the gold, because otherwise I will need to change my wave count, cause this one will be invalidated.
Attachment 159305
wow, didn't expect to see you here. been reading your posts.
good to see you here. http://www.forexfactory.com/images/smilies/yim/happy.gif
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#623
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 2:57am
Jnita
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354 Posts
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Quote:
Originally Posted by lancelot41 http://www.forexfactory.com/images/buttons/viewpost.gif
Hey guys, whats up? I am just jumping around a litlle and decided to put some gold chart in thsi threat.
This gold has been pretty tricky since the new yearly lows. Fisrtly I was looking for a possible a-b-c-d-e triangle in wave II. But now when are prices down at 76.4% Fibo support looks like we have the zig zag correction with the irregular b. The fisrt signs of the bulls could already be here as the market broke the trend lines. But I suggest you to be patient, form my experineces, market always need a lot of room around this 76.4% support, because it can happen that it wont tested thsi leve only once. However, the risk and award is loking pretty good...
If the oil breaks the support at $70 and euro pushes below 1.3350 then we may also see new lows on the gold...But in this situattion I am hopping on flat on the gold, because otherwise I will need to change my wave count, cause this one will be invalidated.
Attachment 159305
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#624
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 3:14am
Rocroy
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Yes, I see similar counts with many pairs, at least usdcad could be included in your list. However, uj seems to be a different case, my count there is different (in the light of latest moves mine seems to be wrong)...
My updated usdjpy count looks now like this, very tricky, might still have some errors in it. Any alternatives for this count?
R
PS. Just noticed that wave3 is not correct...
Quote:
Originally Posted by pkimnyc http://www.forexfactory.com/images/buttons/viewpost.gif
hi blue.
i have the same count on ABC correction on guppy, and eu.
i think same ABC correction can be seen on uj and cable as well.
do you agree?
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#625
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 3:25am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
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http://www.forexfactory.com/images/icons/icon1.gif Leading diagonals
Leading diagonals are quite rare, and expanding variety are even more rare.
Grega - nice to see you drop in. I favor a bearish Gold count, still favor an unfinished Cycle degree correction from the Mar 17 high is not complete yet.
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#626
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 4:23am
Rocroy
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That is exactly what I meant, not too happy with the count. So how would you count uj? Thanks,
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Leading diagonals are quite rare, and expanding variety are even more rare.
Grega - nice to see you drop in. I favor a bearish Gold count, still favor an unfinished Cycle degree correction from the Mar 17 high is not complete yet.
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#627
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 5:18am
nms
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6 Posts
http://www.forexfactory.com/images/icons/yen.gif USDJPY 120 Mins
Hi,
I had got a different count....your comments on the count ..please
Rgds
Muthu
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#628
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 6:16am
Rocroy
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Hi Muthu, an expanding diagonal seems to be pretty unavoidable, to make some sense to counting. But the rest from your wave2 onwards has imo many options. Your counting is one, but perhaps it leads to too many nested counts (cycles within eachother)? Here you can see my once again my updated proposal, which is a little bit different to yours.
There could also be some triangle plays with the ongoing correction, but obviously this is one of those pairs where we just have to wait for more price movements until it is possible to create a reliable count.
BR,
R
Quote:
Originally Posted by nms http://www.forexfactory.com/images/buttons/viewpost.gif
Hi,
I had got a different count....your comments on the count ..please
Rgds
Muthu
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Last edited by Rocroy, Oct 20, 2008 7:22am Reason: Incorrect chart removed.
Oct 20, 2008 2:11pm
Rocroy
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I have updated my counts, again... Do we have a real truncation this time with euro?
http://www.forexfactory.com/attachment.php?attachmentid=159579&thumb=1&d=1224526220
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 20, 2008 11:51pm
GWexell
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http://www.forexfactory.com/images/icons/icon1.gif What's The Count?
Hey guys, I'm new to the thread. BTW, nice thread. I spent time over the weekend catching up to now what has become this point in the thread. Anyway, I'm wondering what everyone now thinks about the GBP/JPY pair. Are we still heading up the the "C" wave or do you feel that the wave came up short today, and that we are going to start a new #1 point tomorrow? Or Maybe it's a sideways x,y,z?
Any thoughts of the current count after today (Monday)?
Thanks...
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#634
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 12:07am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
I have updated my counts, again... Do we have a real truncation this time with euro?
Your count looks good, I also had a small triangle w.iv that broke lower last night as expected. Not sure small w.v is done. It is not truncated technically if it is lower than w.3 (the B wave does not count). In light of the turmoil, the push down has been more sideways.
I see the final w.5 on your chart as small w.i of something larger, likely wave 3 down.
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#635
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 1:16am
Rocroy
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Yes, you are right about the truncation, this looks like one because of the correction having the lowest point in the pattern, but as w5 goes lower than w3, this isn't a truncation.
The last wave may not be finished yet, but as a whole this pattern looks now pretty good, and the 161 fib support seems to be holding.
But better to wait for more confirmation.
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Your count looks good, I also had a small triangle w.iv that broke lower last night as expected. Not sure small w.v is done. It is not truncated technically if it is lower than w.3 (the B wave does not count). In light of the turmoil, the push down has been more sideways.
I see the final w.5 on your chart as small w.i of something larger, likely wave 3 down.
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#636
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 2:23am
fontu
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661 Posts
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it is in great down trend long term , see d1 ,w1 chart and most of the retracement attempts continue to failed & now it is 5th leg of a vey big downtrend , not even middle but it seems at the starting of it ( ii) ,the next move (iii) will be very big may enough to go below 1.30.
though it seems an arrest as 5 th fail & double bottom but virtually it impossible to think so & as there is not any divergence arround in h1 chart not interruption in thie existing down trend of 5th leg should be happen.
lets see what happen in near future , today.
http://www.gogetin.info/eu1el7.gif
also I see usdjpy
I just see 5 th wave failure & presented at double top in C retracement wave in usdjpy & hence there should be good movement down here , watch it
http://www.gogetin.info/uj1el1.gif
also see the same in m15,m30 having completed all the el pattenrs .also see the bearish divergence.
and there no such compelling datas today ,so will go without much fundaments to interrup( though oil expected up due to fear of output cut by OPEC) .
please advice & help correction.
fontu
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#637
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 2:49am
pipeye
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149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
This is my current count for the Cable. I believe we are in wave (iii) of 3 of (v) of III down?
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Last edited by pipeye, Oct 21, 2008 3:04am
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#638
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 11:10am
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i totally agree with ur counting bro..
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Quote:
Originally Posted by pipeye http://www.forexfactory.com/images/buttons/viewpost.gif
This is my current count for the Cable. I believe we are in wave (iii) of 3 of (v) of III down?
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#639
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 4:20pm
Tmac
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for review only
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#640
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 4:20pm
Tmac
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http://www.forexfactory.com/images/icons/icon1.gif UJ
for review only
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#641
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 4:21pm
Tmac
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#642
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 4:22pm
Tmac
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#643
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 21, 2008 11:09pm
fontu
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661 Posts
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update eurusd yesterday's trend not yet finished even after 572pips down & still in subwaves c of (iii) in wave 5th but there is reversal bullish divergence in H1 chart .
Eu now 1.2972 & best bottom can be 1.2876 or 1.2761
http://www.gogetin.info/eu1el9.gif
fontu
Last edited by fontu, Oct 21, 2008 11:21pm
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#644
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 12:29am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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My EurUsd chart..
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#645
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 12:31am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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http://www.forexfactory.com/images/icons/icon1.gif EurUsd
Pls feedback if i miss something..
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Oct 22, 2008 1:12am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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NzdUsd
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http://www.forexfactory.com/images/buttons/quote.gif #647
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 5:09am
http://www.forexfactory.com/nfs/avatar55086_1.gifZappa
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Patterns/price action do exist in forex. However, EW is a COMPLETE waste of time. Focus on the patterns, not the counts.
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#648
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 5:16am
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Quote:
Originally Posted by Zappa http://www.forexfactory.com/images/buttons/viewpost.gif
Patterns/price action do exist in forex. However, EW is a COMPLETE waste of time. Focus on the patterns, not the counts.
Thanks for reminding us that our work is worthless. Now please get off this thread.
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#649
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 5:55am
http://www.forexfactory.com/nfs/avatar59904_2.giflancelot41
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Quote:
Originally Posted by Zappa http://www.forexfactory.com/images/buttons/viewpost.gif
Patterns/price action do exist in forex. However, EW is a COMPLETE waste of time. Focus on the patterns, not the counts.
I always thought that exactly with the counts we reconize the patterns; or....?
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#650
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 6:00am
pipeye
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http://www.forexfactory.com/images/icons/icon1.gif Cable
My look at the Cable. I belive we are in a short wave (iv) of (v) of 5 down. Would love some feedback.
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#651
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 7:05am
http://www.forexfactory.com/nfs/avatar57903_1.gifvalius
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---------------------------------------------------------------
http://www.forexfactory.com/showpost...&postcount=515 :
Quote:
Originally Posted by valius http://www.forexfactory.com/images/buttons/viewpost.gif
When i look at 4H chart i agree with you that now we're in AB* correction.
But when i look at monthly, weekly, daily charts i prefer the scenario that the correction is already finished and now we are in the 3rd wave. So i believe that there will be lower price than your 5th wave.
http://www.forexfactory.com/showpost...&postcount=517 :
Quote:
Originally Posted by valius http://www.forexfactory.com/images/buttons/viewpost.gif
Sorry, i didn't have much time yesterday(today also). Anyway here's my quick count:
---------------------------------------------------------------
Perhaps my count was at least good, because the move downwards is sharp and it is very likely that we are in a 3rd wave now.
This week i didn't short the pair from 1.34 , because i have bought different counts from a professional, who thought that we are not in a 3rd wave now http://www.forexfactory.com/images/smilies/yim/big_grin.gif
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#652
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 9:20am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by pipeye http://www.forexfactory.com/images/buttons/viewpost.gif
My look at the Cable. I belive we are in a short wave (iv) of (v) of 5 down. Would love some feedback.
Good count. Totally agree.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#653
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 9:36am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
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but where would tha wave iv go...?
need some space to sell then http://www.forexfactory.com/images/smilies/yim/big_grin.gif
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Good count. Totally agree.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#654
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 9:48am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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My guess is 1.6470.
Wat do u think?
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#655
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 9:50am
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i'm lookin for 6550... is it a little too much? http://www.forexfactory.com/images/smilies/yim/sad.gif
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
My guess is 1.6470.
Wat do u think?
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#656
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 9:52am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
My guess is 1.6470.
Wat do u think?
Cable chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=160497&stc=1&thumb=1&d=1224683540 http://www.forexfactory.com/attachment.php?attachmentid=160500&stc=1&thumb=1&d=1224683761
Oct 22, 2008 12:10pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by 13thheaven http://www.forexfactory.com/images/buttons/viewpost.gif
damn, missed the train...
i'm searching on the right spot to enter, but when i go to the bathroom, the price suddenly slipped...
thx for the info though...
idiotic me... http://www.forexfactory.com/images/smilies/yim/sad.gif
btw can u share EW of EUR/USD?
does it have the same idea with GBP/USD?
Hi 13thheaven,
Dont worry about missed trade, there is always others to come. i missed it too http://www.forexfactory.com/images/smilies/yim/happy.gif
My EurUsd count is very similar to Cable.
Pls correct me if i miss something.
Regards,
Blue
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http://www.forexfactory.com/images/buttons/quote.gif #663
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 12:26pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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EurChf chart.
Pls add ur commants..
-blue
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#664
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 5:33pm
pipeye
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http://www.forexfactory.com/images/icons/icon1.gif Cable Update
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Good count. Totally agree.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Hey Blue Bottle,
Thanks. It's been challenging keeping up with these overextended moves. I have an update, as I believe we are now in (v) of (v) of 5 down, that could potentially end around 1.60 area.
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#665
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 22, 2008 11:17pm
fontu
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though there was a breakout of the triangle but it seemed failed 5th wave to have a double bottom but can't believe it !!
The 5th wave of such a big trend plus the v subwave all can be so short ,totally failed & very transient, overnight? not even seen by most in trading sessions???????????simply impossible .................
I do not now thinking this way , actually true breakout not happened yet it continues make complexes in the iv wave correction
http://www.gogetin.info/eu1el12.gif
with clear bearish divergence still there .
fontu
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#666
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 12:25am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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UsdChf
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Oct 23, 2008 4:04am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
though there was a breakout of the triangle but it seemed failed 5th wave to have a double bottom but can't believe it !!
The 5th wave of such a big trend plus the v subwave all can be so short ,totally failed & very transient, overnight? not even seen by most in trading sessions???????????simply impossible .................
I do not now thinking this way , actually true breakout not happened yet it continues make complexes in the iv wave correction
with clear bearish divergence still there .
fontu
EurUsd.
-> w-C is exactly equal to w-A.
-> w-C is in 12345 form if we take w-4 as diamond pattern.
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http://www.forexfactory.com/images/buttons/quote.gif #668
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 4:17am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
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Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
though there was a breakout of the triangle but it seemed failed 5th wave to have a double bottom but can't believe it !!
The 5th wave of such a big trend plus the v subwave all can be so short ,totally failed & very transient, overnight? not even seen by most in trading sessions???????????simply impossible .................
I do not now thinking this way , actually true breakout not happened yet it continues make complexes in the iv wave correction
http://www.gogetin.info/eu1el12.gif
with clear bearish divergence still there .
fontu
maybe it's just wave (ii) of wave v... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
@blue bottle
thx for your analysis...
keep up your good work
i agree with ur charts...
btw please take a look at loco...
it's creating inverted cup... and it's on 161.8% fib, will it retrace now?
please make some comment on my analysis... i think it's forming wave 4...
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Last edited by 13thheaven, Oct 23, 2008 5:06am
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#669
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 10:38am
fontu
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Bue bottle and any experienced can you count gold please for me , I never tried it before & seems more complicated .I want to trade in gold now.
fontu
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#670
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 10:49am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
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i wonder where blue bottle went...
need some advise with the eur/usd... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
@fontu
sorry i cannot help u bro...
but it seems that loco is on around 200-223.6% of the fib expansion, so it's probably on wave iv
but don't trust me...
i'm still a beginner...
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#671
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 11:05am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
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Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
Bue bottle and any experienced can you count gold please for me , I never tried it before & seems more complicated .I want to trade in gold now.
fontu
Daily chart. I see it as a double zigzag in which we are in the last abc where a could be completed.
So this leg down should not be the last one and once the next leg up completes it should put (at least) a new low.
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#672
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 11:10am
fontu
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Quote:
Originally Posted by 13thheaven http://www.forexfactory.com/images/buttons/viewpost.gif
i wonder where blue bottle went...
need some advise with the eur/usd... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
@fontu
sorry i cannot help u bro...
but it seems that loco is on around 200-223.6% of the fib expansion, so it's probably on wave iv
but don't trust me...
i'm still a beginner...
Its ok & thanks for some analysis . I have no knowledge about fib so far . Gold it very risky if fail to count properly , I think finished the subwave & now creating a & 4th corrective wave of bigger started to stay for some time .Or in 4th subwave of big 3
fontu
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#673
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 11:16am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
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at least it's not wrong... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
gold up to 732 from 702... http://www.forexfactory.com/images/smilies/yim/whew!.gif
i'm just a wannabe analyst http://www.forexfactory.com/images/smilies/yim/tongue.gif
thx soso for giving ur analysis...
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Last edited by 13thheaven, Oct 23, 2008 11:37am
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#674
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 11:24am
fontu
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661 Posts
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
Daily chart. I see it as a double zigzag in which we are in the last abc where a could be completed.
So this leg down should not be the last one and once the next leg up completes it should put (at least) a new low.
Thanks soso & 13thheaven for the help . Now I will try understand before any trade placed.
fontu
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#675
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 23, 2008 7:48pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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EurChf chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=161230&stc=1&thumb=1&d=1224805702 http://www.forexfactory.com/attachment.php?attachmentid=161231&stc=1&thumb=1&d=1224805702 http://www.forexfactory.com/attachment.php?attachmentid=161235&stc=1&thumb=1&d=1224806243
Oct 24, 2008 1:59am
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http://www.forexfactory.com/images/icons/icon1.gif Gold labels
Labels for gold chart, where A-B-C is combined to make a larger cycle W, X, Y and possibly Z. X wave can repeat, the A-B-C's keep going in the same direction down. http://www.forexfactory.com/images/smilies/yim/happy.gif
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http://www.forexfactory.com/images/buttons/quote.gif #677
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 24, 2008 2:20am
fontu
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Member Since Mar 2008
661 Posts
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Labels for gold chart, where A-B-C is combined to make a larger cycle W, X, Y and possibly Z. X wave can repeat, the A-B-C's keep going in the same direction down. http://www.forexfactory.com/images/smilies/yim/happy.gif
Attachment 161349
Thanks a lot I see it but perhaps the existing wave a still not bottomed , any idea the level it should ? I want buy at this level .and the intraday range possibly move .
fontu
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#678
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 24, 2008 4:49am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Labels for gold chart, where A-B-C is combined to make a larger cycle W, X, Y and possibly Z. X wave can repeat, the A-B-C's keep going in the same direction down. http://www.forexfactory.com/images/smilies/yim/happy.gif
Attachment 161349
Definetely FXoffshore, that's why I said (at least) a new low http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#679
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 24, 2008 4:58am
fontu
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661 Posts
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
Definetely FXoffshore, that's why I said (at least) a new low http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Great analysis and new low already happen , the doble bottom at 698.90$ apparently thought bottom of existing a but it not hold . So after it get a bottom it will go up for b & then again another new low c, right ?
where you think this bottom of a ,as below as 664$ this time ?
thanks all .
fontu
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#680
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 24, 2008 5:54am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
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Quote:
Originally Posted by fontu http://www.forexfactory.com/images/buttons/viewpost.gif
Great analysis and new low already happen , the doble bottom at 698.90$ apparently thought bottom of existing a but it not hold . So after it get a bottom it will go up for b & then again another new low c, right ?
where you think this bottom of a ,as below as 664$ this time ?
thanks all .
fontu
I was talking about another low after this leg down completes. http://www.forexfactory.com/images/smilies/yim/happy.gif
I have no idea the price level where this leg completes and I don't think there's any trading value in trying to bottom picking it. Always trade in the direction of impulse, right now is down so you should position down only. If you want to go long then wait until you see an impulsive move up then wait some more for its retracement and only then enter long - using your favorite setup. This is how I'd play it...
fontu, and others who are just starting using EW, please take into consideration that EW is not a full trading system, is just another tool to identify the trend and its strength. And it does a terrific job doing just that. And nothing more. So EW is just a tool in your trading strategy but you have to define the whole strategy and how you enter, how you exit and what role has EW in your strategy.
Good luck!
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#681
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 24, 2008 9:57am
fontu
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Member Since Mar 2008
661 Posts
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
I was talking about another low after this leg down completes. http://www.forexfactory.com/images/smilies/yim/happy.gif
I have no idea the price level where this leg completes and I don't think there's any trading value in trying to bottom picking it. Always trade in the direction of impulse, right now is down so you should position down only. If you want to go long then wait until you see an impulsive move up then wait some more for its retracement and only then enter long - using your favorite setup. This is how I'd play it...
fontu, and others who are just starting using EW, please take into consideration that EW is not a full trading system, is just another tool to identify the trend and its strength. And it does a terrific job doing just that. And nothing more. So EW is just a tool in your trading strategy but you have to define the whole strategy and how you enter, how you exit and what role has EW in your strategy.
Good luck!
Thanks a lot again , I got the bottom 681.45$ I spot clearly & place buy orders & got more than expected profit in gold & though there were more chance in gpbjpy I did for gold in an ac specially for gold & other place gj 350 pips already & about 1000pips in probable with this count perfect.
Now after finishing a wave it is creating the b to upto 818$ minimum & then c wave down below to 681$ as 664$ ( possible) .
Thanks all who helps me .
fontu
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#682
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 3:17am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
http://www.forexfactory.com/images/icons/icon1.gif
I've been playing with ew about a week and based on that "experience" I would say that even though ew states clear rules for counting the waves, applying the rules is a problem. Especially fast moves are difficult, like euro's last leg down, which seems to be a never ending story. I bet that many elliotticans (including ew professionals) assumed that last friday bottom was the end for the w5, but that is not the case (as you can see right now).
When you say that ew is capable to show the trend, I'd say that yes, to some extent. But if you do not have any other means to determine end points of price movements, then you, at least occasionally, will enter or exit the market too early, simply because sometimes (often?) counting is more ad-hoc than "exact science". Experience in ew may help to some extent in this, but like the euro example shows, counting still is a pretty difficult task.
Good luck!
R
Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
I was talking about another low after this leg down completes. http://www.forexfactory.com/images/smilies/yim/happy.gif
I have no idea the price level where this leg completes and I don't think there's any trading value in trying to bottom picking it. Always trade in the direction of impulse, right now is down so you should position down only. If you want to go long then wait until you see an impulsive move up then wait some more for its retracement and only then enter long - using your favorite setup. This is how I'd play it...
fontu, and others who are just starting using EW, please take into consideration that EW is not a full trading system, is just another tool to identify the trend and its strength. And it does a terrific job doing just that. And nothing more. So EW is just a tool in your trading strategy but you have to define the whole strategy and how you enter, how you exit and what role has EW in your strategy.
Good luck!
http://www.forexfactory.com/images/buttons/quote.gif
#683
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 3:25am
http://www.forexfactory.com/nfs/avatar68749_1.gifmphpopular
My first 100k
Member Since May 2008
http://www.forexfactory.com/images/misc/1kt.gif960 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Here is my GJ 15m.
Sorry bcoz I not a professional in EW. I still learning. What I know now is wait. and then short again...
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162125&stc=1&thumb=1&d=1225092313
__________________
Trendline I've drawn
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#684
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 3:41am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
Evil Speculator
Member Since Aug 2007
http://www.forexfactory.com/images/misc/2kt.gif177 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
I've been playing with ew about a week and based on that \\\\\\\"experience\\\\\\\" I would say that even though ew states clear rules for counting the waves, applying the rules is a problem. Especially fast moves are difficult, like euro's last leg down, which seems to be a never ending story. I bet that many elliotticans (including ew professionals) assumed that last friday bottom was the end for the w5, but that is not the case (as you can see right now).
When you say that ew is capable to show the trend, I'd say that yes, to some extent. But if you do not have any other means to determine end points of price movements, then you, at least occasionally, will enter or exit the market too early, simply because sometimes (often?) counting is more ad-hoc than \\\\\\\"exact science\\\\\\\". Experience in ew may help to some extent in this, but like the euro example shows, counting still is a pretty difficult task.
Good luck!
R
Hi Rocroy,
Overall you are right in what you are saying, I'll just clear a few points from my perspective.
I dont know how many ellioticians assumed that last Friday was THE bottom. I also made an assumption, I was (and still am) expecting a bottom but expecting it is completely a different story than trading it.
Those that bought Euro Friday or a few hours ago are bottom pickers and they are everywhere, you dont have to be an elliotician to be one http://www.forexfactory.com/images/smilies/yim/big_grin.gif. Truth is that an elliotician may be more inclined to bottom pick than usual.
Back to expecting a bottom on Friday, I already said in my last post the way I'd trade reversals - always wait for the first impulsive move in the timeframe I'm trading then wait some more for the first retracement and then join in the direction of the impulse, if there is a bar setup.
And lastly, EW is just another trading tool (a trend identification tool for me) and it is based on probabilities, like any other technical tool. So yes, it fails, and sometimes in a miserable way. In the end is like you say, experience is the mother of all - with or without EW.
One more thing, I wouldnt worry in counting every bit of a fast move. Why do that? When it ends it ends, the first sign is an impulse in the opposite direction so until it reverses better stay chilled. I am still making this mistake though http://www.forexfactory.com/images/smilies/yim/winking.gif
This is true for complex corrections too, it is simply not worth to count every bit of a wave better mark some retracements/price S/R levels and when/if the correction gets there watch the price action around those levels and enter accordingly.
Hope it helps.
__________________
-soso
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#685
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 5:14am
fontu
Senior Member
Member Since Mar 2008
661 Posts
http://www.forexfactory.com/images/icons/icon1.gif
It is apparent that the actual bottoms were not reached in gold & other pairs like gj , now heading for so.the big 5th leg still to go perhaps to complete a in d1 .
fontu
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#686
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 6:38am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Thanks soso, good to hear how others are actually using ew.
I guess the reason to my post was that my few first ew experiments happened to go too well and based on those my hopes were set too high. So maybe it was time to set my feet back on the ground.
EW is far from useless but it has its limitations. I'm surely going to use it in the future, but I need to study it more and need more experience on it. Also, like you mentioned, I need something else to overcome ew limitations (including patience http://www.forexfactory.com/images/smilies/yim/waiting.gif) and I might just have the tools for that.
Trade well,
R
Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Rocroy,
Overall you are right in what you are saying, I'll just clear a few points from my perspective.
I dont know how many ellioticians assumed that last Friday was THE bottom. I also made an assumption, I was (and still am) expecting a bottom but expecting it is completely a different story than trading it.
Those that bought Euro Friday or a few hours ago are bottom pickers and they are everywhere, you dont have to be an elliotician to be one http://www.forexfactory.com/images/smilies/yim/big_grin.gif. Truth is that an elliotician may be more inclined to bottom pick than usual.
Back to expecting a bottom on Friday, I already said in my last post the way I'd trade reversals - always wait for the first impulsive move in the timeframe I'm trading then wait some more for the first retracement and then join in the direction of the impulse, if there is a bar setup.
And lastly, EW is just another trading tool (a trend identification tool for me) and it is based on probabilities, like any other technical tool. So yes, it fails, and sometimes in a miserable way. In the end is like you say, experience is the mother of all - with or without EW.
One more thing, I wouldnt worry in counting every bit of a fast move. Why do that? When it ends it ends, the first sign is an impulse in the opposite direction so until it reverses better stay chilled. I am still making this mistake though http://www.forexfactory.com/images/smilies/yim/winking.gif
This is true for complex corrections too, it is simply not worth to count every bit of a wave better mark some retracements/price S/R levels and when/if the correction gets there watch the price action around those levels and enter accordingly.
Hope it helps.
http://www.forexfactory.com/images/buttons/quote.gif
#687
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 8:06am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
FF Lover
Member Since Mar 2007
215 Posts
http://www.forexfactory.com/images/icons/icon1.gif
can anyone post your analysis of the curren eur/usd chart?
i'm getting confused with it...
btw blue bottle hasn't been seen for a long time... i wonder where he's going...
__________________
Money management is good for your health...
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#688
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 8:51am
fontu
Senior Member
Member Since Mar 2008
661 Posts
http://www.forexfactory.com/images/icons/icon1.gif
I see the modified gold counts as it did not get the bottom before ,perhaps today:
http://www.gogetin.info/gld2710.gif
http://www.gogetin.info/gldd2710.gif
eurusd should correlate gold chart , will try latter .
fontu
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#689
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 27, 2008 9:08am
Rocroy
Senior Member
Member Since Jun 2007
http://www.forexfactory.com/images/misc/2kt.gif513 Posts
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Here is my euro count. Hopefully that support holds, so I don't have to update that damn w5 count once again!
Quote:
Originally Posted by 13thheaven http://www.forexfactory.com/images/buttons/viewpost.gif
can anyone post your analysis of the curren eur/usd chart?
i'm getting confused with it...
btw blue bottle hasn't been seen for a long time... i wonder where he's going...
http://www.forexfactory.com/attachment.php?attachmentid=162235&thumb=1&d=1225112889
Oct 27, 2008 8:54pm
http://www.forexfactory.com/nfs/avatar68749_1.gifmphpopular
My first 100k
Member Since May 2008
http://www.forexfactory.com/images/misc/1kt.gif960 Posts
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IN progress of learnign EW
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162445&stc=1&thumb=1&d=1225155236 http://www.forexfactory.com/attachment.php?attachmentid=162446&stc=1&thumb=1&d=1225155236
__________________
Trendline I've drawn
http://www.forexfactory.com/images/buttons/quote.gif #695
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 3:02am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
Evil Speculator
Member Since Aug 2007
http://www.forexfactory.com/images/misc/2kt.gif177 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPCAD
This is an example of how I am trading guys (or trying http://www.forexfactory.com/images/smilies/yim/big_grin.gif), current GBPCAD Daily. I have posted this chart in the J16 thread as well last night (gmt) and in the meantime the order got activated.
We are in a prolonged sideways move from which I hope we're on our way out. So we have an impulsive move up followed by a retracement between 50-62% of w.1 in a HUGE Reversal Bar (or Pin Bar). Next bar is an inside bar but also a Reversal Bar.
Buy order at the break of the IB (or the previous big bar for safer entry).
First target somewhere near 2.1700.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162560&stc=1&thumb=1&d=1225177102
__________________
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#696
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 3:23am
bowman
Member
Member Since Oct 2008
120 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Not think, that purpose above. Probably downward, a slump proceeds in an economy.
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#697
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 5:39am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
Evil Speculator
Member Since Aug 2007
http://www.forexfactory.com/images/misc/2kt.gif177 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDNZD, Daily
Another Daily chart that looks good imo.
We are in a consolidation that is most likely a wave 4 and the current high of this wave is pips away of a good confluence (50% retracement of waves (1) throguh (3) and 38% retracement of wave (3)).
The target for wave (5) should not be much lower than wave (3) bottom. We have an old S/R pivot sitting at 1.0430 and this is the level I am looking to take profit if I will be in the trade.
At this point I would say this correction is nearing its end and the only thing that misses is a bar setup to get us in. What we had yesterday was a Reversal Bar and if today will be an Inside Bar I will look to set a sell order 1 pip below Reversal Bar low.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162615&stc=1&thumb=1&d=1225186699
__________________
-soso
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#698
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 8:18am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
FF Lover
Member Since Mar 2007
215 Posts
http://www.forexfactory.com/images/icons/icon1.gif
is it currently on wave 4 too on EURUSD?
the pattern is a little bit similar to the one on GBP not long ago... when blue bottle told me that it's going down again... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
can somebody explain it to me?
thx
__________________
Money management is good for your health...
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#699
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 8:48am
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
Evil Speculator
Member Since Aug 2007
http://www.forexfactory.com/images/misc/2kt.gif177 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by 13thheaven http://www.forexfactory.com/images/buttons/viewpost.gif
is it currently on wave 4 too on EURUSD?
the pattern is a little bit similar to the one on GBP not long ago... when blue bottle told me that it's going down again... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
can somebody explain it to me?
thx
I dont have anything on EURUSD, been looking at 4H timeframe but cant see nothing worth mentioning so for me it is the waiting stage regarding this currency, for now.
__________________
-soso
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#700
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 10:05am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle http://www.forexfactory.com/images/statusicon/user_online.gif
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
My cable chart
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162693&stc=1&thumb=1&d=1225202704
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#701
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 10:27am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle http://www.forexfactory.com/images/statusicon/user_online.gif
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
My UsdYen chart.
Looks good for short entry.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162699&stc=1&thumb=1&d=1225204016
Oct 28, 2008 10:58am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
NzdUsd
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=162714&stc=1&thumb=1&d=1225205919
http://www.forexfactory.com/images/buttons/quote.gif #707
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 28, 2008 11:47am
livingFX
Member
Member Since Oct 2008
121 Posts
http://www.forexfactory.com/images/icons/icon10.gif
till now I don't know this tool of analisis but let's learning it!
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#708
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 4:47am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
Eliot wave trader
Member Since Aug 2008
http://www.forexfactory.com/images/misc/1kt.gif125 Posts
http://www.forexfactory.com/images/icons/icon1.gif EUR GBP
Eur Gbp End Wave 2 Or B In Montly
Time End Wave 2 Or B
Pattern End Wave 20r B
Price End Wave 2 Or B
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=163056&stc=1&thumb=1&d=1225270057
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#709
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 10:37am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
FF Lover
Member Since Mar 2007
215 Posts
http://www.forexfactory.com/images/icons/icon1.gif
still no clue about the eur/usd anyone?
there's a cup and handle pattern i think...
should it move south later?
__________________
Money management is good for your health...
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#710
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 4:12pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
http://www.forexfactory.com/images/misc/10kt.gif206 Posts
http://www.forexfactory.com/images/icons/yen.gif USD JPY Oct 29
Here is my YEN chart for this morning. My count is a wave IV was completed, and we have begun i and ii down in V. The short entries are at 98.30 for aggressive, and 95.97 for conservative traders. http://www.forexfactory.com/images/smilies/yim/happy.gif
http://www.forexfactory.com/attachment.php?attachmentid=163334&thumb=1&d=1225311149
__________________
- FXoffshore http://www.forexfactory.com/images/smilies/yim/happy.gif
"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#711
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 4:32pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
http://www.forexfactory.com/images/misc/10kt.gif206 Posts
http://www.forexfactory.com/images/icons/euro.gif eur/usd
EUR completed a diagonal triangle V - as expected, and rocketed up in a wave 1 or A to near 1.2992
Below is today's chart with potential C wave short entry now. Looking for yesterdays chart to show the nice entry 1.2460, before this was updated. Good trading http://www.forexfactory.com/images/smilies/yim/happy.gif
http://www.forexfactory.com/attachment.php?attachmentid=163345&thumb=1&d=1225312291
__________________
- FXoffshore http://www.forexfactory.com/images/smilies/yim/happy.gif
"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#712
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 5:38pm
Techmanff
Member
Member Since Sep 2008
24 Posts
http://www.forexfactory.com/images/icons/icon1.gif
One of the common rules in Forex trader is to take it easy and chose a simple indicator. Keep it easy!
Beside the fact that I don’t think it really work Elliot Waves, as far as I’ve studied, it’s too complicated and represent too much analysis time.
I think it’s worthless.
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#713
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 5:58pm
pipeye
Member
Member Since Dec 2007
149 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by Techmanff http://www.forexfactory.com/images/buttons/viewpost.gif
One of the common rules in Forex trader is to take it easy and chose a simple indicator. Keep it easy!
Beside the fact that I don’t think it really work Elliot Waves, as far as I’ve studied, it’s too complicated and represent too much analysis time.
I think it’s worthless.
Then don't use it!
http://www.forexfactory.com/images/buttons/quote.gif
#714
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 29, 2008 7:36pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Here is my YEN chart for this morning. My count is a wave IV was completed, and we have begun i and ii down in V. The short entries are at 98.30 for aggressive, and 95.97 for conservative traders. http://www.forexfactory.com/images/smilies/yim/happy.gif
Attachment 163334
Great chart FXoffshore.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#715
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 4:12am
http://www.forexfactory.com/nfs/avatar35817_1.gif13thheaven
FF Lover
Member Since Mar 2007
215 Posts
http://www.forexfactory.com/images/icons/icon1.gif
nothing is worthless...
a nice wave 3 can give u lots of pips...
and all analysis can support the others, so it's not worthless at all...
but it's up to you... if u feel it worthless, then simply don't use it... http://www.forexfactory.com/images/smilies/yim/big_grin.gif
Quote:
Originally Posted by Techmanff http://www.forexfactory.com/images/buttons/viewpost.gif
One of the common rules in Forex trader is to take it easy and chose a simple indicator. Keep it easy!
Beside the fact that I don’t think it really work Elliot Waves, as far as I’ve studied, it’s too complicated and represent too much analysis time.
I think it’s worthless.
__________________
Money management is good for your health...
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#716
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 5:00am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
hi all,
my NzdUsd chart.
Probably it completed 5 waves down in daily chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=163532&stc=1&thumb=1&d=1225357216 http://www.forexfactory.com/attachment.php?attachmentid=163534&stc=1&thumb=1&d=1225357356
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#717
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 12:05pm
johntsai
Member
Member Since Apr 2007
377 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Hi all,
here is one of the best ebook i ever read about the wave theory.
it is much easier to understand and apply.
http://rapidshare.de/files/40796847/Elliott_Waves_-_Advanced_Get_-_Applying_Technical_Analysis_Elliot _Waves.pdf.html
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#718
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 5:30pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
http://www.forexfactory.com/images/misc/10kt.gif206 Posts
http://www.forexfactory.com/images/icons/yen.gif JPY
Updated outlook, it seems YEN is waiting for the interest rate announcement tonight, the result should be a move down on USD/JPY.
http://www.forexfactory.com/attachment.php?attachmentid=163800&thumb=1&d=1225402199
__________________
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"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#719
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 5:46pm
johntsai
Member
Member Since Apr 2007
377 Posts
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Updated outlook, it seems YEN is waiting for the interest rate announcement tonight, the result should be a move down on USD/JPY.
Attachment 163800
could we be the uptrend now instead of downtrend in lower timeframe?
due to day chart have a 5 wave completed.
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#720
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 6:43pm
pipeye
Member
Member Since Dec 2007
149 Posts
http://www.forexfactory.com/images/icons/icon1.gif JPY
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Updated outlook, it seems YEN is waiting for the interest rate announcement tonight, the result should be a move down on USD/JPY.
Attachment 163800
Is it possible that we have completed A and are in B of a larger ABC correction that would take us to the upper reaches of the previous wave(iv) around 102.50, before we complete a wave 5 down? This would be consistent with the principle of alternation, considering we had a pretty short wave 2, and would be consistent with the complex corrections that are taking place on the EUR, GBP and there impending wave 5's as well. Just my two cents.
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Oct 30, 2008 7:02pm
johntsai
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Member Since Apr 2007
377 Posts
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Quote:
Originally Posted by pipeye http://www.forexfactory.com/images/buttons/viewpost.gif
Is it possible that we have completed A and are in B of a larger ABC correction that would take us to the upper reaches of the previous wave(iv) around 102.50, before we complete a wave 5 down? This would be consistent with the principle of alternation, considering we had a pretty short wave 2, and would be consistent with the complex corrections that are taking place on the EUR, GBP and there impending wave 5's as well. Just my two cents.
This is so interesting. Everyone have their own elliott wave rule.
For me, here is how it looks like after fib retrace plug in.
5 wave already complete in day chart. now is the wave correction.
expecting hit fib 50 (wave 1-5) = wekly pivot point.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=163831&stc=1&thumb=1&d=1225407585
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 7:51pm
pipeye
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149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Oil
Possible count
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#723
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 7:56pm
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UsdCad chart
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#724
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 8:07pm
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Quote:
Originally Posted by johntsai http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all,
here is one of the best ebook i ever read about the wave theory.
it is much easier to understand and apply.
http://rapidshare.de/files/40796847/Elliott_Waves_-_Advanced_Get_-_Applying_Technical_Analysis_Elliot _Waves.pdf.html
hi Johntsai,
Welcome here and thanks for the ebook.
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#725
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 30, 2008 8:15pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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EurUsd chart
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#726
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 3:13am
Rocroy
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Member Since Jun 2007
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One alternative more on yen...
http://www.forexfactory.com/attachment.php?attachmentid=163994&thumb=1&d=1225437173
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#727
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 3:26am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
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UsdChf chart
I am planning for short entries..
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#728
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 3:54am
Rocroy
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I'm not sure if B is ready. Check it on a shorter tf ...
A potential short entry at 1.1645?
R
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
UsdChf chart
I am planning for short entries..
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#729
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 4:21am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
I'm not sure if B is ready. Check it on a shorter tf ...
A potential short entry at 1.1645?
R
Hi,
Already entered SHORT at 1.1534.http://www.forexfactory.com/images/smilies/yim/happy.gif
I guess too risky, so moved my SL to breakeven.
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#730
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 4:59am
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Evil Speculator
Member Since Aug 2007
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http://www.forexfactory.com/images/icons/icon1.gif EURCHF, H4
Am looking for the attached scenario, if it plays out, to short this pair.
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#731
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 5:02am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon2.gif contracting triangles cannot be a wave 2
Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
One alternative more on yen...
Elliott said contracting triangles cannot be a wave 2.
It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
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#732
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 6:13am
Rocroy
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I'm sure you are right, I do not know ew that well yet. But imo correcting that does not change counting much, only some details in the beginning are affected.
R
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Elliott said contracting triangles cannot be a wave 2.
It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
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#733
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 6:36am
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Evil Speculator
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http://www.forexfactory.com/images/icons/icon1.gif GBPJPY, H4
Am looking to go LONG if the scenratio plays out.
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Oct 31, 2008 5:57pm
syria
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usdcad
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http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 7:56pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
Sorry about my bad measurement, need to be more careful, correct entry was 1.1682.
Oh well, 1.1645 is not that far away. Did you get a good entry?
R
Nope, stopped at break even. That was a wrong entry.
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#738
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 8:51pm
deanbean
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22 Posts
http://www.forexfactory.com/images/icons/icon1.gif Question
Hi! I don't know much about the Elliot's theory but I understand that the main trend is established by waves 1 through 5 and can be either up or down. The three following waves always move in the opposite direction of waves 1 through 5, good so far I guess, when I get kind of confused is when it comes to cycles, supercycles, , grand super cycles and so with all the other divisions of waves, but I really want to learn. I’ve been reading more about this method and I’ve been looking forward to keeping up on the thread. By the way, thanks.
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#739
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 31, 2008 8:59pm
SunTrader http://www.forexfactory.com/images/statusicon/user_online.gif
Trade the reaction not the news!
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Elliott said contracting triangles cannot be a wave 2.
It can be a wave 4. Or, inside a complex correction, in the B wave or as a C wave.
In Elliott's day there was no such thing as intra-day data such as H1 or 5M so I think EW rules should not be taken as absolutes - including the biggie that W4 shouldn't trade below W1 high. BTW this "rule" wasn't originally in Elliott Wave Theory. He put it in later on to please the wall street crowd.
Sometimes the price data just won't cooperate. Is it better to stick to the rules or find trades?
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#740
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 1, 2008 9:24am
fontu
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Member Since Mar 2008
661 Posts
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Just checking the corrective waves in eurusd , seems still to down to complete wave B & then C if may not up above A but may touch & then finish big wave 4 of weekly counts to come down . as global turmoil yet to settle it may even go much extremes than expected .
http://www.gogetin.info/eu111.gif
fontu
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#741
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 1, 2008 4:49pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon1.gif Elliott Rules are there for a reason
Quote:
Originally Posted by SunTrader http://www.forexfactory.com/images/buttons/viewpost.gif
... so I think EW rules should not be taken as absolutes - including the biggie that W4 shouldn't trade below W1 high. BTW this \"rule\" wasn't originally in Elliott Wave Theory. ...Sometimes the price data just won't cooperate. Is it better to stick to the rules or find trades?
I agree. Glen Neely covers this in his book, when he argues that EW using candles is not as accurate as using averaging data points. For most of us, this can be easily accomplished by using the 'line' view to cut average candle wicks. It also helps when doing counts by seeing through some noise in a different view. I used it a few times this week when wave 4 crept into wave 1 territory, and could justify relaxing the rule for a few pips. I see the rules as items not to be dismissed lightly for good reasons (that would allow incorrect counts to pass), rather than face an alternative count. Obey the rules, but use discretion when it is on the border line - and be aware of the consequences of changing rules. (experience says the rules are there for a reason). The EWI people also will not toss out a count because of a few pips from a candle wick, knowing that the structure of the count is most important.
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#742
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 1, 2008 5:49pm
Raza
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185 Posts
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Quote:
Originally Posted by Rocroy http://www.forexfactory.com/images/buttons/viewpost.gif
I agree, 149.7 perhaps ...
Is it possible that this wave can make a possible double bottom, and then go Up. the bounce is gonna be much harder.... I am not familiar with EW..but wondering if it can do a double bottom... without violating your EW theory...curios...http://www.forexfactory.com/images/smilies/yim/waiting.gif
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#743
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 2, 2008 10:30pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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hi all,
Usdcad chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=164716&stc=1&thumb=1&d=1225683041
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#744
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 3, 2008 2:44pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi all,
My Audusd chart.
Expecting down movement for wB around 0.635x range.
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#745
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 3, 2008 7:49pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
Member Since Aug 2007
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http://www.forexfactory.com/images/icons/euro.gif Euro count
Will we see Euro drop? Or stall until after the election?
http://vault.bz/up/chart/2008/11/eur-usd-nov3.jpg
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#746
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 3, 2008 8:12pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon1.gif CAD - ALT count
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
hi all, Usdcad chart.
Just wondering, if USD just had a week of correction in 3 waves, and it is anticipated that USD will gain strength Thursday after the GBP and EUR 50 bp rate cuts. Plus the after election boost. Then how do we explain CAD going so strongly the opposite way?
Perhaps we should consider an ALT count, with 3's down, as a possible continuation of CAD much higher? Just kicking it around, always like to consider the reasonable ALT counts.
When I stand back and look at CAD monthly or weekly, it looks like it has a wave.5 to complete large C up. THis correction may be a wave 4???? My 2 cents.
http://www.forexfactory.com/attachment.php?attachmentid=165206&thumb=1&d=1225761158
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#747
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 3, 2008 9:06pm
pipeye
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149 Posts
http://www.forexfactory.com/images/icons/icon1.gif elephantitis
For some reason, I have a feeling that we are going to see our fair share of truncated fifths relatively soon.
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#748
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 4, 2008 12:21am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/dollar.gif CAD
This may be the current CAD wave count for the retracement. The diagonal triangle C in IV makes sense, the 3 wave movements are clear in places, nothing looks like an impulse. It would be terminal, and followed by a rocket north when it is complete, if this is the correct count.
http://www.forexfactory.com/attachment.php?attachmentid=165273&thumb=1&d=1225776049
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#749
http://www.forexfactory.com/images/statusicon/post_old.gif Nov 4, 2008 2:04am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Bit confused with EurUsd,
so i came up with 2 possible counts.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=165312&stc=1&thumb=1&d=1225782290 http://www.forexfactory.com/attachment.php?attachmentid=165313&stc=1&thumb=1&d=1225782290