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发表于 2009-4-12 08:12
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Nov 15, 2008 3:27pm
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Here is the UJ wave count I have for 4H chart. Waiting for minor wave 1 to complete of Wave C of a ABC correction. Wave 1 projected top around zones of 98.926 - 99.244 or 99.628 - 99.854 and time zones of 05:00-09:00 11/17/08:
Attached Thumbnails
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#872
 Nov 16, 2008 12:28am
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Now gbpjpy should be in impulse wave 5 but within the range of 4 correction and may create more complex too though seems not anymore . The same scenerio should be many other pairs corerelating :
fontu
Attached Thumbnails
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#873
Nov 16, 2008 3:28am
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That looks like a clear correction, which is about to be completed.
A couple of comments though. Your last count seems to have overlapping waves 1 and 4.
Also I'm a little sceptical if wave B is complete. It looks good, but it lacks a decent support, so I expect it to drift a little lower, to 92.4. But this is my speculation, from ew viewpoint everything in wB is ok.
BTW, what is your big count on UJ? Is this correction wave 4?
R
Quote:
Originally Posted by SunTrader 
Here is the UJ wave count I have for 4H chart. Waiting for minor wave 1 to complete of Wave C of a ABC correction. Wave 1 projected top around zones of 98.926 - 99.244 or 99.628 - 99.854 and time zones of 05:00-09:00 11/17/08:
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#874
Nov 16, 2008 3:35am
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I'm not sure if that kind of counting is allowed, at least I could not identify it in this ew cheat sheet.
So that is why I assumed that the first wave of this correction is an impulse, wave A, and after that starts a contracting triangle. wave B, which is about to complete, if this triangle scenario is correct.
Other possibilities are open too, like you showed in your other posts.
EW Cheat Sheet.pdf
Quote:
Originally Posted by Blue bottle
Other possibility for Eurusd..
What you guys think?
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#875
Nov 16, 2008 4:09am
| | ending diagonal
Quote:
Originally Posted by Blue bottle
Other possibility for Eurusd..
What you guys think?
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Blue bottle,
I am in favour of an ending diagonal.
cheers. 
Attached Thumbnails
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#877
Nov 16, 2008 8:09am
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Quote:
Originally Posted by unicorn7411
Blue bottle,
I am in favour of an ending diagonal.
cheers.
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I think so too , it can't be different than other similar pairs doing & so perhaps started the wave 5 within the 4 wave range though as I am all along in favour of this 4th wave to end! and never thought that much big wave 5 can be finished without notice .
fontu
Last edited by fontu, Nov 16, 2008 10:34am
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#878
Nov 16, 2008 9:05pm
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Quote:
Originally Posted by Rocroy
That looks like a clear correction, which is about to be completed.
A couple of comments though. Your last count seems to have overlapping waves 1 and 4.
I am of the EW school of thought that as long as price does not close into wave 1 it can still be valid.
Also I'm a little sceptical if wave B is complete. It looks good, but it lacks a decent support, so I expect it to drift a little lower, to 92.4. But this is my speculation, from ew viewpoint everything in wB is ok.
You might be right, tonight even though it moved lower it still hasn't close into wave 1.
BTW, what is your big count on UJ? Is this correction wave 4?
I am thinking an ABC correction of the impulse wave down from '07.
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#879
Nov 16, 2008 9:34pm
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Hi all,
my eurgbp chart,,
Attached Thumbnails
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#880
Nov 16, 2008 11:36pm
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Well ok, but doesn't that raise the question "on what timeframe"? What I mean that a counting looks ok on a longer tf (e.g. 4h), but on shorter tf's (e.g. 1h) it is no longer acceptable.
I'm sure that your ew school has an explanation to this "problem", but as I'm not from that school (heck, I don't know what school I'm from, SS = sefl-study? ) I'd be interested know how you deal with the prev issue. Thanks.
Quote:
Originally Posted by SunTrader
Your last count seems to have overlapping waves 1 and 4.
I am of the EW school of thought that as long as price does not close into wave 1 it can still be valid.
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#881
Nov 17, 2008 12:02am
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Well see the EW school of thought that I learned is about trading and not theory and holding fast to "rules". Prechter and his EWI bunch are all about having never this and never that. Mr Elliott originally had his wave counts and nothing much else but after the public wanted certainty (which can never be so) did he add some "rules".
So moving down to a 1H chart it does indeed close into wave 1 range by a couple of measly pips. Going into a shorter timeframe by much more.
But even though price can be broken down into smaller and smaller fractals and have similar price patterns, the "rules" cannot be applied as stringent IMHO, for the simply reason that things are not always so nice and neat on every timeframe.
Now none of this means that I will be proven right. That is what alternate counts are for.
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#882
Nov 17, 2008 12:23am
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I now remember that you already explained this approach earlier in this thread, but thanks. I think at least at the moment I stick to the rules - few of them and easy to follow. But it is also interesting to keep your school's approach in mind, and check from time to time how this "looser" approach would have worked.
Here a couple alternate counts for uj. Triangle play also here?
EDT: the first alternate is not correct, last wave has to an impulse (or ending diagonal).
Quote:
Originally Posted by SunTrader
Well see the EW school of thought that I learned is about trading and not theory and holding fast to "rules". Prechter and his EWI bunch are all about having never this and never that. Mr Elliott originally had his wave counts and nothing much else but after the public wanted certainty (which can never be so) did he add some "rules".
So moving down to a 1H chart it does indeed close into wave 1 range by a couple of measly pips. Going into a shorter timeframe by much more.
But even though price can be broken down into smaller and smaller...
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Last edited by Rocroy, Nov 17, 2008 12:48am
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#883
Nov 17, 2008 3:43am
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Hi guys,
I follow a simpler EW school, like SunTrader, and while I agree that the rule regarding wave 4 cannot travel into wave 1 teritory can sometimes be broken, especially if there is a fast spike that takes us a little into wave 1 teritory, I also think that always following the rule does a better service than doubting it.
After all by having space between corrections (2 & 4) is a sign of strength which is a characteristic of impulse waves.
Anyhow each one with his own style...
As for USDJPY, here's yet another count  , showing how discretionary this whole thing is.
P.S. My Euro setup was activated but quickly kicked out bythe big bearish move from Friday before closing.
Attached Thumbnails
__________________
-soso
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#884
Nov 17, 2008 4:27am
| | AUDUSD
AUDUSD looks very good imo, attached is a possible count. The correction stopped at 62 retracement of (a). This is the simple EW that I like to look for - a first impulse followed by a retracement who's momentum is clearly inferior compared with the momentum of the impulse wave. The R:R is also great.
Also we have the support of the Daily, if you look carefully you'll see a possible H&S pattern.
Attached Images 
__________________
-soso
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#885
Nov 17, 2008 4:37am
| | AUDUSD, 4H
Same direction but a better, and more bullish, count for AUDUSD 4H.
Note that with the renewd count the end of wave [ii] sits at a powerful confluence of fib levels.
Attached Thumbnails
__________________
-soso
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