Aug 26, 2008 4:26am
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Evil Speculator
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
1.4700 --> 1.4600
100 pips in 12 minutes, and out. nice.
German news was not well received, and EW waves were about to go down any how.
Yap, there were other technical formations to point out the direction. I posted the attached chart on another forum this morning, classic H&S pattern.
Now let's see if the targets are reached.
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=142864&stc=1&d=1219739166
Aug 26, 2008 8:18am
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Evil Speculator
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EURCHF continues as expected. Funny thing is I missed the train, was expecting a wave 2 to retrace deeper (50%-62%) it only got to 33% unfortunately. So I am expecting another pullback to ride the short.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=142942&stc=1&thumb=1&d=1219753068
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#264
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 26, 2008 5:33pm
pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
EURCHF continues as expected. Funny thing is I missed the train, was expecting a wave 2 to retrace deeper (50%-62%) it only got to 33% unfortunately. So I am expecting another pullback to ride the short.
thanks guys for a lot of thoughtful info. http://www.forexfactory.com/images/smilies/yim/happy.gif
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#265
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 26, 2008 5:40pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon1.gif EURO bottom This Week?
Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
Talking about USD Index indeed this whole move up is clearly a correction, the fast move up that started in July is typical of a C wave so I too expect a top in the very near future. And this lines up pretty well with my thoughs on EURUSD and USDJPY. I think a new stage of USD weakening is about to begin very very soon. Probabily this week we'll see the top in USDX and USDJPY. And the bottom in EURUSD.
Yes, I think you have it nailed. Like Blue Bottle's chart showing the end of a large C from the 1.6037 high in EUR/USD, coming to an end soon. I am counting w.iv of 5 of (V) about half complete, likely done before tonight. Then there is the final small w.v of 5 of (V) of (C) to possibly end in 24-48 hours.
If this count is correct, and it looks confident - Be prepared! We are due to have at least a large scale correction of the past 1500 pip drop over 6 weeks, which should take much of September to take back 500-1000 pips up. My view is that after large (C) comes large (I), and will watch close for signs of 5 legs up in multiple degrees. starting with micro fractals .i, i, 1, (I), (1). Great time in a couple days to place a small lot long to leave alone for weeks to make money while we sleep.
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#266
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 2:33am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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AudUsd pair at H1 chart
What you guys thing??
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=143219&stc=1&thumb=1&d=1219818758
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#267
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 2:56am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Yes, I think you have it nailed. Like Blue Bottle's chart showing the end of a large C from the 1.6037 high in EUR/USD, coming to an end soon. I am counting w.iv of 5 of (V) about half complete, likely done before tonight. Then there is the final small w.v of 5 of (V) of (C) to possibly end in 24-48 hours.
If this count is correct, and it looks confident - Be prepared! We are due to have at least a large scale correction of the past 1500 pip drop over 6 weeks, which should take much of September to take back 500-1000 pips up. My view is that after large (C) comes large (I), and will watch close for signs of 5 legs up in multiple degrees. starting with micro fractals .i, i, 1, (I), (1). Great time in a couple days to place a small lot long to leave alone for weeks to make money while we sleep.
Very clearly explained.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Looking the bottom too at 1.43 - 1.44 range, then go LONG to collect huge pipshttp://www.forexfactory.com/images/smilies/yim/happy.gif..
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#268
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 3:19am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
I prefer wave 3, then 5, then C in that order.
w.1 paves the way by showing a 5 impulse, so you know which way the trend is in that time frame. Wave 2 is the setup, after I count 5, then 3 correction, I am in the zone to catch waves 3-5.
I work off a plan of measured objectives and fibo targets for the range, but put my trust in counting waves in the correct form. When I count the last C wave, and conservatively wait for a turn into the start of the smallest 5 impulse fractal, then I enter on the pullback. If the count is wrong, and goes the other way, my max risk is the gap between the start of w.1 and the end of w.2 - typically .382 of 1. If w.2 is not done and wants to continue, it is a rule that it cannot go beyond the start of w.1, or else the count is invalidated. One of the 3 rules in Elliot.
I also find w.2 much easier to read than w.4, which can be the most complex to figure out in large cycles, like the w.4 the USD Index has been in since March 17th, makes for choppy markets without clear trends. After 5 months in w.4 DX, it will be nice to see impulse waves for long runs inside channels.
Stock Indexes like S&P are in a Supercycle w.(C) now, entering the 3rd of the 3rd down. Wave A began in 2000, and B in 2003, so C is likely going to be a deep bear for a couple more years. This is the Trade of a lifetime shorting the Indexes, if you can do it on small margin. It took 34 years to reach a peak in large w.(V) and nearly everyone missed it, but it may only take 3 years to get back to a DOW level w.(4) from 1974.
Thanks.
I'm comfortable/good in drawing and finding correct waves, even though i make mistakes sometime. http://www.forexfactory.com/images/smilies/yim/happy.gif
Now focus on learning below things:
1.) trading Elliott wave,
2.) where to enter & exit,
3.) which wave to trade,
4.) which wave not to trade
5.) etc..
Your above post helps me to go 1 more step forward in learning process..Million thanks
Last edited by Blue bottle, Aug 27, 2008 3:32am
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#269
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 3:46am
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
Very clearly explained.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Looking the bottom too at 1.43 - 1.44 range, then go LONG to collect huge pipshttp://www.forexfactory.com/images/smilies/yim/happy.gif..
Moving in the channel.
I gonna sell for wave 3 once it break it.
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#270
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 5:14am
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http://www.forexfactory.com/images/icons/icon1.gif EURUSD
Not clear imo, we could already have the bottom in place. There is a scenario that allows it once we go down to H1 for the last wave. And we have proportion between I and V.
All in all I will stay out for now until I see a clear impulse.
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Aug 27, 2008 5:16am
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http://www.forexfactory.com/images/icons/icon1.gif USDJPY
USDJPY is at the crossroads, if 108.7 is cleary broken then I expect big impulse moves down to new lows for this year.
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http://www.forexfactory.com/images/buttons/quote.gif #272
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 12:55pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
USDJPY is at the crossroads, if 108.7 is cleary broken then I expect big impulse moves down to new lows for this year.
hi,
i guess, UsdJpy not going in our way..
i entered short for wave C at 108.8 but now in -100 pipshttp://www.forexfactory.com/images/smilies/yim/sad.gif
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#273
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 1:30pm
http://www.forexfactory.com/nfs/avatar47447_1.gifsoso
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
hi,
i guess, UsdJpy not going in our way..
i entered short for wave C at 108.8 but now in -100 pipshttp://www.forexfactory.com/images/smilies/yim/sad.gif
You should have waited for a clear break of 108.7 I guess...
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#274
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 2:03pm
anakmelayufx
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
hi,
i guess, UsdJpy not going in our way..
i entered short for wave C at 108.8 but now in -100 pipshttp://www.forexfactory.com/images/smilies/yim/sad.gif
My expectation UJ will going up at least to 110.10 before turning back to south by tomorrow. According to my analysis we should have around 5 - 7 hours uptrend pattern before complete to swing back to south.
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#275
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 9:18pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by soso http://www.forexfactory.com/images/buttons/viewpost.gif
You should have waited for a clear break of 108.7 I guess...
i know its my fault, and my other system also bearish, tats why i went short..but still ok, my Lot size was very small (money management http://www.forexfactory.com/images/smilies/yim/happy.gif)..
Pls don't offend my post and sorry..
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#276
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 9:27pm
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
AudUsd pair at H1 chart
What you guys thing??
Update..
i believe if break tat line, it may go higher for wave C of 2orB..Lets see..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=143525&stc=1&thumb=1&d=1219886730 http://www.forexfactory.com/attachment.php?attachmentid=143526&stc=1&thumb=1&d=1219886730
Last edited by Blue bottle, Aug 27, 2008 9:59pm
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#277
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 9:35pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Nzd/Usd chart..
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#278
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 9:40pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Eur/Gbp chart at weekly ..
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#279
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 9:52pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Head and shoulder at Hourly chart..
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#280
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 10:02pm
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
Update..
i believe if break tat line, it may go higher for wave C of 2orB..Lets see..
Positive AUD news helped us in wave C..
I closed my trade with 102pips profithttp://www.forexfactory.com/images/smilies/yim/dancing.gif
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#281
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 11:19pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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EurUsd chart.
is it end of wave C of wave 2?
..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=143549&stc=1&thumb=1&d=1219893513
Last edited by Blue bottle, Aug 28, 2008 1:12am
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#282
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 27, 2008 11:39pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by anakmelayufx http://www.forexfactory.com/images/buttons/viewpost.gif
My expectation UJ will going up at least to 110.10 before turning back to south by tomorrow. According to my analysis we should have around 5 - 7 hours uptrend pattern before complete to swing back to south.
Very good analysis..and it happening.
are u also using Elliott wave?
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#283
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 12:00am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Hi 1235abc,
I am glad to see you back here..http://www.forexfactory.com/images/smilies/yim/happy.gif
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#284
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 3:25am
doji
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Blue Bottle,
As far as the EUR/USD pair is concerned, I believe it's not done with Wave C yet. It's still doing a Wave 4 correction now in my view.
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#285
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 3:35am
Wilko
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http://www.forexfactory.com/images/icons/icon1.gif My View on Cable 4hr
4hr Cable
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Aug 28, 2008 4:45am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Blue Bottle,
As far as the EUR/USD pair is concerned, I believe it's not done with Wave C yet. It's still doing a Wave 4 correction now in my view.
hi doji,
If possible post me the chart for easy understanding..
Are u referring to the wave 4 (red color) wc in my chart?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=143615&stc=1&thumb=1&d=1219913035
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 5:14am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon1.gif Where is the acceleration in w.3 of C ?
Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Blue Bottle,
As far as the EUR/USD pair is concerned, I believe it's not done with Wave C yet. It's still doing a Wave 4 correction now in my view.
Think you are right on this call.
Looks like w.1 of C started at Tuesdays low of 1.4571 and completed the first leg up at 1.4778, then dropped to a w.2 low of 1.4666, and is now working on the last half of w.3 up.
EURO Seems to be working on a double-3 correction in w.4 of C with support around 1.4745-50 at the previous w.iv of 3 and .618 retracement levels converge. The count relies on the top of w.1 @ 1.4740 holding, for w.4 not to be in the range of w.1
I may go long near 1.4750 if the count looks complete, likely give it a chance to show a small 5 up and 3 down to confirm the larger trend is up again.
US GDP in 3 hours, I expect it will not be good news - lower than forecast, and that should shoot EURO 100 pips higher in the channel to complete w.3 - but larger w.4 may return back to this level, seems to be the pattern.
The behavior looks like a 1,2, - i,ii start of an extended w.3. There should be some rapid acceleration in the middle of w.3 higher. before the US session goes for lunch.
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#288
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 6:13am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Think you are right on this call.
Looks like w.1 of C started at Tuesdays low of 1.4571 and completed the first leg up at 1.4778, then dropped to a w.2 low of 1.4666, and is now working on the last half of w.3 up.
EURO Seems to be working on a double-3 correction in w.4 of C with support around 1.4745-50 at the previous w.iv of 3 and .618 retracement levels converge. The count relies on the top of w.1 @ 1.4740 holding, for w.4 not to be in the range of w.1
I may go long near 1.4750 if the count looks complete, likely give it a chance to show a small 5 up and 3 down to confirm the larger trend is up again.
US GDP in 3 hours, I expect it will not be good news - lower than forecast, and that should shoot EURO 100 pips higher in the channel to complete w.3 - but larger w.4 may return back to this level, seems to be the pattern.
The behavior looks like a 1,2, - i,ii start of an extended w.3. There should be some rapid acceleration in the middle of w.3 higher. before the US session goes for lunch.
Thanks FXoffshore for the analysis..http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
I missed something..need to redraw my waves..
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#289
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 6:26am
http://www.forexfactory.com/nfs/avatar77494_1.gifsaeidhidari
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http://www.forexfactory.com/images/icons/icon1.gif gbp aud
gbp aud
enter wave c:4
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#290
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 6:35am
doji
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Blue Bottle,
Can't post my chart as I don't know how. Besides, I'm using Oanda.
At any rate, I believe Wave 4 of Wave C is finished at this point and Wave 5 has begun.
I hope it does not go way up since I'm holding a short position and have been waiting for quite a while for this up-wave to finally end.
Btw, I'm referring to the most current wave. My computation puts the top of Wave 5 at around 1.4832.
Last edited by doji, Aug 28, 2008 7:09am Reason: additions
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#291
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 7:11am
anakmelayufx
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79 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Very good analysis..and it happening.
are u also using Elliott wave?
yeah i am also using elliott wave together with a few indicator
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#292
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 7:28am
http://www.forexfactory.com/nfs/avatar68749_1.gifmphpopular
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Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Blue Bottle,
Can't post my chart as I don't know how. Besides, I'm using Oanda.
At any rate, I believe Wave 4 of Wave C is finished at this point and Wave 5 has begun.
I hope it does not go way up since I'm holding a short position and have been waiting for quite a while for this up-wave to finally end.
Btw, I'm referring to the most current wave. My computation puts the top of Wave 5 at around 1.4832.
Save your chart as image. Then in this page click 'add reply' then find 'manage attachment' and upload your image.
Remember save as JPG or smaller file size.
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Trendline I've drawn
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#293
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 11:37am
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beast
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#294
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 1:00pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Eur/Usd
-------------------------------
End of wave "A " ................ ?
-------------------------------
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#295
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 5:51pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Gbp/Usd
Short Term - Wavecount ............http://www.forexfactory.com/images/smilies/yim/winking.gif
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Last edited by marketwavez, Aug 28, 2008 6:08pm
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#296
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 7:36pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Blue Bottle,
Can't post my chart as I don't know how. Besides, I'm using Oanda.
At any rate, I believe Wave 4 of Wave C is finished at this point and Wave 5 has begun.
I hope it does not go way up since I'm holding a short position and have been waiting for quite a while for this up-wave to finally end.
Btw, I'm referring to the most current wave. My computation puts the top of Wave 5 at around 1.4832.
Hope it helps you..
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#297
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 7:38pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Eur/Usd
-------------------------------
End of wave "A " ................ ?
-------------------------------
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Warm Welcome Marketwavez!!
I am glad that you joining us here in the thread..
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#298
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 8:12pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hope it helps you..
Thanks for the instruction on posting charts, I forgot how, appreciate the reminder that it can be done within FF tools.
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#299
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 28, 2008 8:45pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon5.gif EURO Juncture
I am at a crossroads with EURO alternate counts. I was favoring the completion of large w.(4) of C up above 1.5000 - but the waves make me question that now, and favor two possibilities with 3 counts - both are triangles.
Either: [*]w.4 is forming as a triangle currently in w.d of 4, or;[*]w.5 is forming an ending diagonal triangle, currently in w.3 of 5. ??I suspect a break to happen soon for a small w.c from 1.4700 to the 0.786 fibo at 1.4622 at the bottom of the equality box in the lower part of the red oval. Resistance has been strong at 1.4722 - holding 5 times today. I treat that triangle as w.b in the 3 leg zig-zag down to the triangle lower trend line.
Either way, the best trade is likely the rise back up to 1.4650 range tonight is my current plan. Careful though. I lost 10 pips after the GDP this morning moved up - then came back down - I did not see the reversal coming until after some sleep and further reflection on all these A-B-C waves. Only a triangle can have 3 x threes in a row (3 x 5 actually) but the third three is the clue that impulse is not possible. Another clue is the overlap of waves, especially when w.4 dips into w.1 price - rules out an impulse and rules in a triangle type.
Will trade with tight stops and careful confirmation of turns. Not a time to pick tops or bottoms! (my bad habit).
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Aug 28, 2008 9:31pm
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GJ wave 5
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Aug 29, 2008 3:14am
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Quote:
Originally Posted by PandoraBox http://www.forexfactory.com/images/buttons/viewpost.gif
GJ wave 5
Good chart bro!
I shorted for wave 5 few days back, now 190 pips in greenhttp://www.forexfactory.com/images/smilies/yim/party.gif
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 3:18am
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Good chart bro!
I shorted for wave 5 few days back, now 190 in greenhttp://www.forexfactory.com/images/smilies/yim/party.gif
Hi Blue,
Congrat bro, http://www.forexfactory.com/images/smilies/yim/thumbsup.gif I'm still hold 6 position short GJ around 1200 pips at different prices.
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#306
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 3:51am
Wilko
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
I am at a crossroads with EURO alternate counts.
Great chart!! Keep them coming.
Here's my view on it
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#307
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 4:23am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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While the triangle alternative has come into focus, I cannot rule out the large C wave up to complete w.4.
After this mornings unexpected 3-wave decline in EUR/USD, where it narrowly missed dipping into to low to have an impulse count, it has started to climb again in small 5 waves when I drill down.
[*]I count 5 up from 1.4671 to 1.4764[*]followed by 3 corrective waves down to 1.4717[*]and a small w.1 up from that correction is near completion now.If my counts are correct, then the 5 wave impulses are still pointing north for long EURO trades.... It has taken on a 1,2 - i,ii, -.1,.2 start that explains the overlapping and lack of a prominent 3rd wave yet. If this is correct, then these extensions should take EURO beyond 1.5000 to complete large w.4 - so we can get on with w.5 down to complete larger C from the all time high of 1.6037 on July 15.
It is challenging, and risk in the cross roads of a bunch of a-b-c waves, to rule out one option or another. For now, both impulse up and triangle down are viable.
I give the benefit of the doubt to going long on the 5 wave evidence, and will look for small 3 wave pull backs to add longs, but always with stops and a mind on key levels that would require a reassessment, like a break of support at 1.4713 and 1.4692 would have bearish implications calling for short trading.
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#308
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 4:44am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon1.gif Following the count in EUR
Quote:
Originally Posted by Wilko http://www.forexfactory.com/images/buttons/viewpost.gif
Here's my view on it
I could be wrong, but I believe you are missing a 5 wave extension in the EUR fall that makes up the steepest part of w.3
Which means that an intermediate w.4 and 5 followed your w.3 in the same degree. The result should be the largest w.3 likely ended at 1.4631
I am confident that the count with the extra extension subdivision in the w.3 is counted properly, because there is a intermediate w.4 triangle that follows right after your w.3. That w.4 triangle in the 1.4980 to 1.4840 range is what leads to the fall into w.5 of large w.3 in the cascade from 1.4850s to 1.4666
I love w.4 triangles, they act as road maps to anchor and confirm counts after subdivisions have taken place.
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#309
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Wilko
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
I could be wrong, but I believe you are missing a 5 wave extension in the EUR fall that makes up the steepest part of w.3
Which means that an intermediate w.4 and 5 followed your w.3 in the same degree. The result should be the largest w.3 likely ended at 1.4631
I am confident that the count with the extra extension subdivision in the w.3 is counted properly, because there is a intermediate w.4 triangle that follows right after your w.3. That w.4 triangle in the 1.4980 to 1.4840 range is what leads to the fall into w.5 of large w.3 in the cascade from 1.4850s to 1.4666
I love w.4 triangles, they act as road maps to anchor and confirm counts after subdivisions have taken place.
Thanks for the feedback and I can see what you mean. I'll work on my chart a bit more.
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#310
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 7:10am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
History & Economic Cycles
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http://www.forexfactory.com/images/icons/icon3.gif Fibo Fractal trend lines and Elliot
This chart speaks to me, so I thought I would share it. There are some interesting trend lines, and fibo/fractal geometry in EUR/USD.
Notice how price action climbs the red lines, then breaks on the 4th touch and tumbles. Lower highs, and lows. The red X marks the breaks.
Makes me think that perhaps "a" at 1.4909 may be it for large wave (IV) ?
It is at the apex of the previous 4th triangle, which is typical, right? I felt the rally in w.(IV) would have better form if it went up higher towards the fibo .382, but that is so high with the double extension in w.(III) way up there at 1.5168.
My gut tells me the terminal diagnosable triangle better matches this sideways to down consolidation. The falling trend line from w.(II) near the top is projected to meet the secondary trend line that forms the triangle - probaby at the juncture where w.E will stall against a wall of resistance, and spring down for the final w.(V) of C.
Any thoughts? http://www.forexfactory.com/images/smilies/yim/thinking.gif
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#311
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 7:47am
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FXoffshore I like your idea of a triangle as w.IV, in fact there is a special type of triangle in fx where the lines of the triangle slant with the trend and not against it, it is called skewed triangle more details here.
All in all I believe the current move besides being corrective is also too complex to be worth trading. I like to talk about and analyze it but is not worth the risk to trade it imo. Better to stand aside and trade other pairs, EURCHF it is nearing a great setup for example.
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#312
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 11:06am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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GbpUsd
Woke up this morning to this ,,,,,,,,http://www.forexfactory.com/images/smilies/yim/happy.gif
- Price action violated the low of End of Wave " B "
this trade set-up is over
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#313
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 11:19am
Wilko
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
GbpUsd
Woke up this morning to this ,,,,,,,,http://www.forexfactory.com/images/smilies/yim/happy.gif
- Price action violated the low of End of Wave " B "
this trade set-up is over
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//////////////////////////////////////////////////////////////
How are you picking the end of wave B http://www.forexfactory.com/images/smilies/yim/confused.gif
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#314
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 2:31pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Quote:
Originally Posted by Wilko http://www.forexfactory.com/images/buttons/viewpost.gif
How are you picking the end of wave B http://www.forexfactory.com/images/smilies/yim/confused.gif
Green line drawn on chart at 8270 was End of Wave B .......
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#315
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 29, 2008 2:34pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Usd/Gbp :
-------------------
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Wave " 3 " ............
----------------------
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Aug 31, 2008 7:36am
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beast update
fibo 61,8% did not hold.
lets see if will bounce frm 76.4% level
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 1:04pm
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Say what ?
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http://www.forexfactory.com/images/icons/icon1.gif .786 Gippy - feedback please.
I'm have a bit a trouble nailing down the .786 on GBP/JPY.
Because of the capitulation low set on 03/17/2008 was a rather forceful bottom,
with a nearly 600 pip range that day and lowest price traded coming in
anywhere from 192.25 to 192.50, Could anyone out there sound off about
where they've pegged the St. Patricks Day low on Pound Yen ?
Of course, if we trade under 197 this week, it's a moot point.
Also, 2 other 100% retracement possibilities exist: the lows from 03/20 (19685) and 03/30 (19508).
Anyone targeting these as potential objectives ?
I am reminded that fib retracements are just spots on the map and only have
as much validity as are placed in them by the market as a collective whole.
No where is it written in stone that a market must stop on a dime at .xyz% retracement.
So, that being said, if one were short this pair, does it appear the .786 has ALREADY printed, or not quite yet?
If it has, i'm inclined to cover another piece and move my stop down just above the .707
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#319
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 3:34pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Gbp/Usd
Hmmmm , What do we have here ?.........
Talk about going to Hell in a Hand-Basket ..........http://www.forexfactory.com/images/smilies/yim/sad.gif
- When will this slippage end ? ............
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#320
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 3:48pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Quote:
Originally Posted by toshi http://www.forexfactory.com/images/buttons/viewpost.gif
I'm have a bit a trouble nailing down the .786 on GBP/JPY.
Because of the capitulation low set on 03/17/2008 was a rather forceful bottom,
with a nearly 600 pip range that day and lowest price traded coming in
anywhere from 192.25 to 192.50, Could anyone out there sound off about
where they've pegged the St. Patricks Day low on Pound Yen ?
Of course, if we trade under 197 this week, it's a moot point.
Also, 2 other 100% retracement possibilities exist: the lows from 03/20 (19685) and 03/30 (19508).
Anyone targeting these as potential objectives ?
Can post a chart so we can visually see what you saying ?
thanx
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#321
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 3:51pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Gbp/Jpy
Here is a look at what may be occurring ............http://www.forexfactory.com/images/smilies/yim/happy.gif
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#322
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 3:55pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Gbp/Usd
Hmmmm , What do we have here ?.........
Talk about going to Hell in a Hand-Basket ..........http://www.forexfactory.com/images/smilies/yim/sad.gif
- When will this slippage end ? ............
Have no idea either http://www.forexfactory.com/images/smilies/yim/winking.gif
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#323
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 3:57pm
nedal26
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Member Since Jun 2008
284 Posts
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G/U Price now: 8145
G/J: = = : 196.75
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#324
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 4:23pm
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Okay, .786 is TOAST.
It is a holiday in the states and for as far back as I can remember,
this is one of the days in the year reserved for beating the hell out of the us dollar.
Any holiday actually that the US fed is closed is an opportunity to bash the buck.
If that holds true vis a vis the dollar yen then G/J is at the mercy of the JPY.
Since the Pound has been doing the driving as of late, and it looks sick as a dog,
it's shaping up to be another St. Patricks Day massacre !
Who woulda guessed the beast would find comfort at 19666, anybody hmmmm?
Watch market's reaction at 19508, if it prints. Could be good for 100 pip bounce.
After that, looking out a few days, we could be in for some major volatility.
Quote:
Originally Posted by toshi http://www.forexfactory.com/images/buttons/viewpost.gif
I'm have a bit a trouble nailing down the .786 on GBP/JPY.
Because of the capitulation low set on 03/17/2008 was a rather forceful bottom,
with a nearly 600 pip range that day and lowest price traded coming in
anywhere from 192.25 to 192.50, Could anyone out there sound off about
where they've pegged the St. Patricks Day low on Pound Yen ?
Of course, if we trade under 197 this week, it's a moot point.
Also, 2 other 100% retracement possibilities exist: the lows from 03/20 (19685) and 03/30 (19508).
Anyone targeting these as potential objectives ?
I am reminded that fib retracements are just spots on the map and only have
as much validity as are placed in them by the market as a collective whole.
No where is it written in stone that a market must stop on a dime at .xyz% retracement.
So, that being said, if one were short this pair, does it appear the .786 has ALREADY printed, or not quite yet?
If it has, i'm inclined to cover another piece and move my stop down just above the .707
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#325
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 4:28pm
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#326
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 4:44pm
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Eur/Usd
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Long-Term View........http://www.forexfactory.com/images/smilies/yim/happy.gif
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#327
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 4:45pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by nedal26 http://www.forexfactory.com/images/buttons/viewpost.gif
G/U Price now: 8145
G/J: = = : 196.75
Hi Nedal,
I was wondering how did u get the numbers?
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#328
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 31, 2008 6:15pm
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi Nedal,
I was wondering how did u get the numbers?
Maybe he got it from Oanda, FXstreet or special broker.
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#329
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2008 2:37am
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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http://www.forexfactory.com/images/icons/icon1.gif Euro Wave (IV) triangle completing wave d --> e
EUR/USD is in a contracting triangle this appears self evident now. Wave D is near a bottom around 1.4615 range in the .786 fibo area, and could head up higher to form w.E to complete larger w.(IV) around 1.4690 -ish. There is a good trend line from the previous w.iv of (III) top at 1.5081 through 1.4904 w.c of this triangle. I doubt w.E will break above that trend line, or the one 20 pips higher from the all time high on July 15 as solid resistance, and may turn down for big w.(V) lower anywhere past 1.4650-ish. (triangle e wave is often short when the other 4 waves touch the trend lines).
The first move in w.i of w.1 of w.(V) should be a vertical drop. If you miss it, wait for the w.ii retracement, just make sure you count 5 down and 3 corrective wave back to .618 fibo or close as a safe entry. Stop would be above w.E high in the 1.4700-50 range, so a great risk/reward ratio opportunity. Timing, well, it may take until Tueday London open to make the start of w.(V), and even Wed for the w.ii retracement entry.
News that NATO will sanction Russia, or that Russia may retaliate with turning off gas pipeline to EU could be a huge news event. This is getting to be big, like the 1963 cuban missle crisis, and as important for Russia.
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#330
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2008 3:39am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
EUR/USD is in a contracting triangle this appears self evident now. Wave D is near a bottom around 1.4615 range in the .786 fibo area, and could head up higher to form w.E to complete larger w.(IV) around 1.4690 -ish. There is a good trend line from the previous w.iv of (III) top at 1.5081 through 1.4904 w.c of this triangle. I doubt w.E will break above that trend line, or the one 20 pips higher from the all time high on July 15 as solid resistance, and may turn down for big w.(V) lower anywhere past 1.4650-ish. (triangle e wave is often short when the other 4 waves touch the trend lines).
The first move in w.i of w.1 of w.(V) should be a vertical drop. If you miss it, wait for the w.ii retracement, just make sure you count 5 down and 3 corrective wave back to .618 fibo or close as a safe entry. Stop would be above w.E high in the 1.4700-50 range, so a great risk/reward ratio opportunity. Timing, well, it may take until Tueday London open to make the start of w.(V), and even Wed for the w.ii retracement entry.
News that NATO will sanction Russia, or that Russia may retaliate with turning off gas pipeline to EU could be a huge news event. This is getting to be big, like the 1963 cuban missle crisis, and as important for Russia.
Great analysis FXoffshore, nice chart too.
i too believe that we are heading towards wave E..
Just entered long at 1.4644 for 80 pips profit.
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Last edited by Blue bottle, Sep 1, 2008 4:04am
Sep 1, 2008 4:21am
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Wish I were correct. STill in learning phase. Plz do correct me.
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http://www.forexfactory.com/images/icons/icon1.gif Eur/usd
Hey traders!
One qiuck post from me. I received a lot of emails about my wave count on the EUR/USD daily, so I decided to post the chart in this tread.
Some good elliotticans in this tread. Nice work guys.
Here is my chart. Grega
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#333
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2008 1:36pm
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Nice chart, Grega. Perfectly clear for all 2008 in a nutshell.
We have a nice short trade coming up when w.E is in place. Could take the intra-day long from w.D up to w.E for 150 pips, but it is counter-trend and at the turning point, so risk needs to be cut in half and monitored carefully. Otherwise wait a couple days for the turn around 1.4750-95.
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#334
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Quote:
Originally Posted by lancelot41 http://www.forexfactory.com/images/buttons/viewpost.gif
Hey traders!
One qiuck post from me. I received a lot of emails about my wave count on the EUR/USD daily, so I decided to post the chart in this tread.
Some good elliotticans in this tread. Nice work guys.
Here is my chart. Grega
Great work Grega..
am glad that you have chosen this thread to post ur charts..
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#335
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Wilko
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Quote:
Originally Posted by lancelot41 http://www.forexfactory.com/images/buttons/viewpost.gif
Hey traders!
One qiuck post from me. I received a lot of emails about my wave count on the EUR/USD daily, so I decided to post the chart in this tread.
Some good elliotticans in this tread. Nice work guys.
Here is my chart. Grega
Attachment 144518
I concur - A super chart and very clear.
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#336
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2008 9:02pm
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http://www.forexfactory.com/images/icons/icon7.gif EURO wave (V) is underway as a diagonal triangle termination.
Now EURO has fallen below 1.4571 that represented the w.c triangle leg low, the prospect of a contracting triangle is broken/eliminated. It now becomes a terminal diagonal triangle - currently in w.iii of (V) of C.
This change in form, means wave (IV) was complete in the 3 wave upward movement that ended at 1.4907 a week ago. In other words, the final minor waves iv and v will complete the correction from the 1.6037 high. Target is likely the support from the rising trend line back to last June 2007, around 1.4500 and a declining trend line from the w.(III) low on Aug 15 at 1.4644.
That changes things greatly, from looking for a short opportunity for the duration of wave 5 down, to waiting for the end of (V) of C for the move up to test 1.6037 over Sept - Oct.
As a terminal triangle, we are assured that there can be no further corrective waves down can be added when this is done. Expect a large wave 5 starting with impulse waves, likely this time next week.
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#337
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#338
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Gbp/Usd
Short-Term Update :
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#339
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gold update zoom in
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#340
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Quote:
Originally Posted by 5ysfx http://www.forexfactory.com/images/buttons/viewpost.gif
gold update zoom in
ok..........
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#341
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My view for Gbp/Jpy pair.
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#342
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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
My view for Gbp/Jpy pair.
thought wave 5 cannot be longer than wave 3.
just a thought.
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#343
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http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable chart..
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Sep 2, 2008 4:21pm
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my view of guppy in daily. i'm sure most of us figured it out where she is going.
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 4:28pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Quote:
Originally Posted by pkimnyc http://www.forexfactory.com/images/buttons/viewpost.gif
thought wave 5 cannot be longer than wave 3.
just a thought.
Hi pkimnyc,
I believe, in some special cases wave 5 can be longer than wave 3, we call it as extended 5th wave. Pls refer figure 4-4 in the attachment..
Pls correct me again, if still i miss something.http://www.forexfactory.com/images/smilies/yim/nailbiting.gif
This diagram is copied from Marketwavez post from other forum.
..
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#348
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 4:36pm
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi pkimnyc,
I believe, in some special cases wave 5 can be longer than wave 3, we call it as extended 5th wave. Pls refer figure 4-4 in the attachment..
Pls correct me again, if still i miss something.http://www.forexfactory.com/images/smilies/yim/nailbiting.gif
This diagram is copied from Marketwavez post from other forum.
..
This is correct
Wave 3 is usually the longest but this is not a strict rule.
5th extended wave mostly occur at lower TF
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#349
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 4:39pm
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
Hi pkimnyc,
I believe, in some special cases wave 5 can be longer than wave 3, we call it as extended 5th wave. Pls refer figure 4-4 in the attachment..
Pls correct me again, if still i miss something.http://www.forexfactory.com/images/smilies/yim/nailbiting.gif
This diagram is copied from Marketwavez post from other forum.
..
thanks for the info bb.
i'm a newb at this, so i'm not in a position to correct somebody.
i thought it was just a general rule for EW. i'm still learning.
thanks again for widening my view.
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#350
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pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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Quote:
Originally Posted by 5ysfx http://www.forexfactory.com/images/buttons/viewpost.gif
This is correct
Wave 3 is usually the longest but this is not a strict rule.
5th extended wave mostly occur at lower TF
thanks 5ysfx.
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#351
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 5:15pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
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pls help to identify waves in violet window
Really i have doubt on this count but its fit nicely to the wave 3
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#352
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 5:35pm
http://www.forexfactory.com/nfs/avatar47291_4.gifFXoffshore
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http://www.forexfactory.com/images/icons/icon1.gif 3 Elliott rules
The rule is that: the 3rd wave can never be the shortest impulse wave compared to 1 or 5.
There are only 3 rules: [*]wave 2 NEVER goes beyond the start of wave 1[*]wave 4 NEVER overlaps wave 1[*]wave 3 is NEVER the shortest impulse wave compared to 1 or 5.The rest are guidelines, some strong but with rare exceptions, others are common or highly probable.
If rule 2 is broken, based on line values, not wicks on candles, then the impulse wave is a diagonal triangle - typically a termination, with the rare exception of a leading diagonal triangle.
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#353
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 5:38pm
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Gpb/Jpy
Close The Gap ? ..............http://www.forexfactory.com/images/smilies/yim/winking.gif !
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#354
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
The rule is that: the 3rd wave can never be the shortest impulse wave compared to 1 or 5.
There are only 3 rules: [*]wave 2 NEVER goes beyond the start of wave 1[*]wave 4 NEVER overlaps wave 1[*]wave 3 is NEVER the shortest impulse wave compared to 1 or 5.The rest are guidelines, some strong but with rare exceptions, others are common or highly probable.
If rule 2 is broken, based on line values, not wicks on candles, then the impulse wave is a diagonal triangle - typically a termination, with the rare exception of a leading diagonal triangle.
Don't forget to read Pretcher's book ,the Elliott Wave Principle
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#355
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pkimnyc http://www.forexfactory.com/images/statusicon/user_online.gif
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thanks guys for all the useful info. http://www.forexfactory.com/images/smilies/yim/happy.gif
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#356
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2008 5:56pm
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/icon3.gif Elliot Wave Tutorial - Reference
Anyone with the interest can get a free online Elliott tutorial here:
http://www.elliottwave.com/tutorial/
A trader should really buy the Robert Prechter/Frost book Elliott Wave Principles, before making trade decisions on introductory reading. The deepest technical resource is the Glen Neely Method book, but it is challenging to get through. It is easier to read the Bible cover to cover than Neely, although his genius is worth falling asleep a few times on the same chapter.
Besides free resources like Blue's thread here, traders with moderate stakes should consider paying a service like Grega Horvat's new email service in conjuction with LFB, or Elliott Wave International chief currency chartist Jim Martens and team. Like golf, it pays to take some professional lessons, before ingraining bad habits through practice. Iron sharpens iron.
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__________________
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"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#357
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2008 1:18am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Gbp/Usd
Fresh New Lows ! ............. !
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#358
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2008 8:16am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Gpb/Jpy
Close The Gap ? ..............http://www.forexfactory.com/images/smilies/yim/winking.gif !
---------------------------------------
Gbp/Jpy
Good Morning ,
Trade set-up is now UNABLE ............
there is no End of Wave B low,.... was waiting to go long @194.50
- Price-action is making new lows ............
---------------------------------------------------------------------
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#359
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2008 8:27am
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..
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#360
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2008 9:30pm
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 usd chf
end wave 3 h4
end wave a:4-15m?
end wave a:a:4-15m?
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Sep 3, 2008 9:40pm
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/icon10.gif gbp aud
gbp aud start wave 5
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=145304&stc=1&thumb=1&d=1220492393
http://www.forexfactory.com/images/buttons/quote.gif #362
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 1:29am
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,
if weekly trend line is broken for real, then i think we are in wave 5.
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#363
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 4:00am
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/icon1.gif Euro Wave V about to begin?
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
hi all,
if weekly trend line is broken for real, then i think we are in wave 5.
Agree, Blue, we are completing larger W.4 of (V) - but cannot confirm completion of w.4 yet?
Prices action is still moving higher/sideways. Possible triangle?
The mood should be ripe for completing the final waves in the big correction after the interest rate announcement (is held?) and the market moves on.
I think Oil still has to finish the final leg of its correction, at least. Many of the majors will turn on the same day, and that day is not far off now. Anyone have a good read on the wave count for Oil?
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#364
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 9:14am
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 Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
hi all,
if weekly trend line is broken for real, then i think we are in wave 5.
So I will wish for the touch of the next target at the major trendline.
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Trendline I've drawn
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#365
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 11:11am
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 wave count for USDCAD pair..
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#366
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 11:43am
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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Quote:
Originally Posted by saeidhidari http://www.forexfactory.com/images/buttons/viewpost.gif
end wave 3 h4
end wave a:4-15m?
end wave a:a:4-15m?
Nice count bro!! http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
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#367
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 12:00pm
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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small tf setup..
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#368
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 12:17pm
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Possible wave count for USDCAD pair..
Zoomed view..
.
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#369
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 2:30pm
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
small tf setup..
GbpJpy update..
Closed my short with 110 pips profit..http://www.forexfactory.com/images/smilies/yim/happy.gif
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#370
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 2:38pm
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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EurUsd chart..
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#371
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 4, 2008 5:31pm
Wilko
Member
Member Since Nov 2007
27 Posts
http://www.forexfactory.com/images/icons/icon1.gif Triangle - false breakout
I like trading triangles and usually make good pips on them. I have noticed that in most cases there is a false breakout first which is also a good entry point.
Just curious if anyone else sees false breakouts on a regular basis???
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#372
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 8, 2008 4:59am
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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EurChf chart..
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#373
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 8, 2008 5:06am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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EurGbp chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146303&stc=1&thumb=1&d=1220864765
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#374
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 6:46am
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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EurUsd chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146581&stc=1&thumb=1&d=1220957163
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#375
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 10:30am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif EurGbp
EurGbp in h4
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146625&stc=1&thumb=1&d=1220970596
Sep 9, 2008 10:31am
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
EurGbp in h4
Weekly chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146626&stc=1&thumb=1&d=1220970689
http://www.forexfactory.com/images/buttons/quote.gif #377
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 10:36am
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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UsdCad in small tf
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#378
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 11:15am
split_unit
Buy the Rumor,Sell the Fact
Member Since Jul 2008
38 Posts
http://www.forexfactory.com/images/icons/icon1.gif my count
even though am not an expert at the wave theory and am still in the learning process heres my count for the EUROUSD 15 min chart... i hope some1 finds it useful.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146637&stc=1&thumb=1&d=1220973340
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#379
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 11:22am
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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Quote:
Originally Posted by split_unit http://www.forexfactory.com/images/buttons/viewpost.gif
even though am not an expert at the wave theory and am still in the learning process heres my count for the EUROUSD 15 min chart... i hope some1 finds it useful.
Good chart Split_unit.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Share with us other charts too if possible.. http://www.forexfactory.com/images/smilies/yim/happy.gif
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#380
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 11:26am
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
Futurologist/pogodynka
Member Since Jul 2008
http://www.forexfactory.com/images/misc/4kt.gif2,708 Posts
http://www.forexfactory.com/images/icons/icon1.gif My scenario, my sponsor :D
My count
Gold should hld at 777$ and aj at 8670 today best till the end of week ;D
C wave might be much longer in time.
Previous gold count still valid.next target 850$
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146643&stc=1&thumb=1&d=1220973995
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Holy grail
Extraordinary trading journal
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#381
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 4:10pm
split_unit
Buy the Rumor,Sell the Fact
Member Since Jul 2008
38 Posts
http://www.forexfactory.com/images/icons/icon10.gif
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Good chart Split_unit.http://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Share with us other charts too if possible.. http://www.forexfactory.com/images/smilies/yim/happy.gif
thank you for the compliment. I hope to contribute to this thread with my charts so that we could all learn and benefit.
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#382
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 9, 2008 5:10pm
split_unit
Buy the Rumor,Sell the Fact
Member Since Jul 2008
38 Posts
http://www.forexfactory.com/images/icons/icon1.gif
GBPJPY chart my count...we can see that price is forming a flag on the 15 min chart and it might break down...or might not...just wanted to share it
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#383
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 10, 2008 9:09am
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
anybody with this setup??
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=146925&stc=1&thumb=1&d=1221052151
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#384
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 10, 2008 6:01pm
split_unit
Buy the Rumor,Sell the Fact
Member Since Jul 2008
38 Posts
http://www.forexfactory.com/images/icons/icon1.gif
it does look like a valid count to me...but i dont trade the pair http://www.forexfactory.com/images/smilies/yim/big_grin.gif
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#385
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 10, 2008 8:22pm
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/icon1.gif Count 1 2 3 4 5
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
anybody with this setup??
Hey, Blue...
Can you count 5 waves down in 1? and in 3?
I can see 3 waves in 1, and it ends with a steep move like a w.3, but without w.4-5?? 3 is not the normal form with visible corrections and a step move in the middle.
A trick is to confirm the count in other major currencies, like I do with CHF/USD when EUR/USD is confusing. (I only trade EUR, with minor exceptions. ) Or gold. It also helps to find a MACD to confirm waves, some are better and settings are important. I also drill down to a small TF chart at smallest bar view, to see more ticks and price action. Hope that helps.
If in doubt, stay out.
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#386
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 11, 2008 7:49am
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
Hey, Blue...
Can you count 5 waves down in 1? and in 3?
I can see 3 waves in 1, and it ends with a steep move like a w.3, but without w.4-5?? 3 is not the normal form with visible corrections and a step move in the middle.
A trick is to confirm the count in other major currencies, like I do with CHF/USD when EUR/USD is confusing. (I only trade EUR, with minor exceptions. ) Or gold. It also helps to find a MACD to confirm waves, some are better and settings are important. I also drill down to a small TF chart at smallest bar view, to see more ticks and price action. Hope that helps.
If in doubt, stay out.
Thanks FXoffshore for reviewing my chart. In future i will more careful in counting.
Thanks for sharing your tricks in confirm the count with other currencies..
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#387
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 11, 2008 5:58pm
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
Quote:
Originally Posted by saeidhidari http://www.forexfactory.com/images/buttons/viewpost.gif
gbp aud start wave 5
end wave 3:5
enter wave 4:5
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#388
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 11, 2008 6:06pm
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 nzd usd daily
nzad usd daily end wave 3:3
enter wave 4
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=147400&stc=1&thumb=1&d=1221170770
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#389
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 11, 2008 6:10pm
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 cad jpy
cad jpy start wave 3 or c
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=147401&stc=1&thumb=1&d=1221170998
Sep 13, 2008 11:52am
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.
We may expect long movement since end of wave 5 was reached, most probably.
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http://www.forexfactory.com/images/buttons/quote.gif #395
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 15, 2008 10:25am
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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EurUsd chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=148291&stc=1&thumb=1&d=1221488707
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#396
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 16, 2008 6:32pm
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,
UsdJpy chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=148665&stc=1&thumb=1&d=1221604336
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#397
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 16, 2008 9:51pm
doji
Member
Member Since Oct 2007
75 Posts
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Hi, bluebottle.
In your EUR/USD chart, is that an A-wave or Wave 1 of a bullish reversal?
I'm inclined to think it's the latter.
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#398
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 7:58am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Hi, bluebottle.
In your EUR/USD chart, is that an A-wave or Wave 1 of a bullish reversal?
I'm inclined to think it's the latter.
Its wave-A.
Sorry for it.
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#399
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 8:05am
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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Cable chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=148831&stc=1&thumb=1&d=1221653083
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#400
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 8:18am
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
EurUsd chart.
EurUsd chart.
If i am not wrong, end of wave-B is there and now in direction for wave-C
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=148833&stc=1&thumb=1&d=1221653877
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#401
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 8:47am
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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UsdJpy chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=148843&stc=1&thumb=1&d=1221655651
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#402
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 5:54pm
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/icon1.gif Mixed counts
Blue, your Yen chart wave 1 should be labeled 1-5, if it is an impulse.
Or, in 3: counts if you see that as an A down, then 2 would be B.
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#403
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 17, 2008 5:56pm
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/icon1.gif Oil Elliott Chart
I have re-examined the Oil chart wave 2 zig-zag, and have come up with the following count.
Based on equality, 61.8 fibo, dynamic trend channel, and previous wave iv of 3, the confluence is around $87
and the time is around Sept 26 or 29th - Oct 1. shown by the red-dash oval.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=149038&stc=1&thumb=1&d=1221688554
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Sep 18, 2008 8:19am
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Jai Shewaramani
Member Since Sep 2006
82 Posts
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Gold...interesting wave count so far
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 19, 2008 8:53pm
doji
Member
Member Since Oct 2007
75 Posts
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So, guys, where do you think we are now on the EUR/USD pair? I got a bit confused -- and lost some because of it.
From the weekly chart, it would seem that what we're seeing is a Wave 4 correction. And yet, it could also be Wave 5, a resumption of the up-move of a few months back.
I think the subjectivity of EW analysis is, paradoxically, its strength. If people interpreted price action in the same uniform way, as other indicators make us do, then who'd be left to take the other side of the trade?
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#410
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 20, 2008 10:19pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
Futurologist/pogodynka
Member Since Jul 2008
http://www.forexfactory.com/images/misc/4kt.gif2,708 Posts
http://www.forexfactory.com/images/icons/icon1.gif U never know..
Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
So, guys, where do you think we are now on the EUR/USD pair? I got a bit confused -- and lost some because of it.
From the weekly chart, it would seem that what we're seeing is a Wave 4 correction. And yet, it could also be Wave 5, a resumption of the up-move of a few months back.
I think the subjectivity of EW analysis is, paradoxically, its strength. If people interpreted price action in the same uniform way, as other indicators make us do, then who'd be left to take the other side of the trade?
Hi
EW seems to be dead when FOMC manipulate the market.
U know what i mean http://www.forexfactory.com/images/smilies/yim/winking.gif
My scenario.
What do you think ?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=149934&stc=1&thumb=1&d=1221963447
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#411
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 21, 2008 12:05am
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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My EurUsd chart..
I believe we may head to another new high in 1.6400 range for wave-5. But wave-4(yellow count) is too large for w4... so need further confirmation.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=149938&stc=1&thumb=1&d=1221969894
Last edited by Blue bottle, Sep 21, 2008 12:38am
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#412
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 21, 2008 12:16am
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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EurUsd in small tf..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=149939&stc=1&thumb=1&d=1221970595
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#413
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 9:10am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
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http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Cable chart.
Cable update for my previous chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150269&stc=1&thumb=1&d=1222089044 http://www.forexfactory.com/attachment.php?attachmentid=150270&stc=1&thumb=1&d=1222089044
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#414
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 10:10am
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,
EurUsd chart.
i am waiting for wave-C end to go short..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150280&stc=1&thumb=1&d=1222092600
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#415
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 8:32pm
doji
Member
Member Since Oct 2007
75 Posts
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Me. too.
Did a counter-trend trade (short) yesterday to my regret. I swear I'll stick to my original plan and not be tempted to enter on a corrective wave. :-{
Btw, Wave C has ended now, right?
Last edited by doji, Sep 22, 2008 8:37pm Reason: error
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#416
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 9:41pm
http://www.forexfactory.com/nfs/avatar79975_2.gifmy30marahaba
Member
Member Since Sep 2008
464 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all,
EurUsd chart.
i am waiting for wave-C end to go short..
Dear Sir,
I need your advise I try to learn about the wave method on UJ
now i draw inside the uj chart would you please to tell me is that right that C point is not complete yet - UJ ????
Thanks and regard's
my30marahaba
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150491&stc=1&thumb=1&d=1222133968
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#417
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 10:40pm
http://www.forexfactory.com/nfs/avatar59794_10.gifnaatha
Member
Member Since Jan 2008
179 Posts
http://www.forexfactory.com/images/icons/icon1.gif
just for compare with GU 1h, - a funny pic
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#418
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 11:37pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
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http://www.forexfactory.com/images/misc/3kt.gif594 Posts
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Quote:
Originally Posted by my30marahaba http://www.forexfactory.com/images/buttons/viewpost.gif
Dear Sir,
I need your advise I try to learn about the wave method on UJ
now i draw inside the uj chart would you please to tell me is that right that C point is not complete yet - UJ ????
Thanks and regard's
my30marahaba
Hi My30marabaha,
Pls refer my chart for UsdJpy. This pair now every complicated to count waves, so i might be wrong too.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150515&stc=1&thumb=1&d=1222141080
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#419
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 11:39pm
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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UsdJpy chart in 1 hour tf.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150516&stc=1&thumb=1&d=1222141162
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#420
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 11:42pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi My30marabaha,
Pls refer my chart for UsdJpy. This pair now every complicated to count waves, so i might be wrong too.
Weekly chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150517&stc=1&thumb=1&d=1222141334
Sep 22, 2008 11:47pm
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Hi My30marabaha,
Pls refer my chart for UsdJpy. This pair now every complicated to count waves, so i might be wrong too.
My 15min chart
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150519&stc=1&thumb=1&d=1222141642
http://www.forexfactory.com/images/buttons/quote.gif #423
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 22, 2008 11:52pm
http://www.forexfactory.com/nfs/avatar79975_2.gifmy30marahaba
Member
Member Since Sep 2008
464 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Weekly chart.
Thank you sir for your explanation of UJ wave
http://www.forexfactory.com/images/smilies/yim/thumbsup.gifhttp://www.forexfactory.com/images/smilies/yim/thumbsup.gif
Regards,
My30marahaba
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#424
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 23, 2008 12:06am
http://www.forexfactory.com/nfs/avatar79975_2.gifmy30marahaba
Member
Member Since Sep 2008
464 Posts
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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
My 15min chart
yes sir, now i'm waiting for eversal long after complite the shouder on this uj but on the weekly chart still weak bearish....let see on the daily chart & weekly the formed looks like S-H-S.
here the daily chart.. & weekly...
regards,
my30marahaba
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150524&stc=1&thumb=1&d=1222142626 http://www.forexfactory.com/attachment.php?attachmentid=150525&stc=1&thumb=1&d=1222142626
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#425
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 23, 2008 1:35am
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
Futurologist/pogodynka
Member Since Jul 2008
http://www.forexfactory.com/images/misc/4kt.gif2,708 Posts
http://www.forexfactory.com/images/icons/icon14.gif Would be nice
Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Weekly chart.
ur chart is correlating with my usd index prediction http://www.forexfactory.com/images/smilies/yim/happy.gif
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#426
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 23, 2008 9:24am
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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UsdJpy chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150680&stc=1&thumb=1&d=1222176218
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#427
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 23, 2008 11:39pm
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
UsdJpy chart.
Green count is my alternative in 12345.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150906&stc=1&thumb=1&d=1222227553
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#428
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 23, 2008 11:53pm
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=150908&stc=1&thumb=1&d=1222228412
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#429
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 2:24am
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.
ABCDE is ended.. so expect to go higher..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150926&stc=1&thumb=1&d=1222237464
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#430
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 2:26am
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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Quote:
Originally Posted by Blue bottle http://www.forexfactory.com/images/buttons/viewpost.gif
Gbp Jpy chart.
ABCDE is ended.. so expect to go higher..
Entered BUY from 196.45.
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#431
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 2:35am
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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UsdCad chart.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150929&stc=1&thumb=1&d=1222238077
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#432
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 3:57am
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/icon1.gif CAD
Blue, there is a good weekly CAD chart showing a large triangle and support level around 1.2050 - look in the news section from James Chen.
http://www.forexfactory.com/news.php?do=news&id=108707
A triangle would suggest a bounce to complete wave E, before crashing down to test a new low over the next few months.
My Eur long was good for 670 pip up to last night, then banked. USD may give a lot more back, but looking for a few clues on a small wave 5 start.
__________________
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"Expect the best - prepare for the worst" Trade Charts and commentary: http://vault.bz
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#433
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 4:29am
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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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Blue, there is a good weekly CAD chart showing a large triangle and support level around 1.2050 - look in the news section from James Chen.
http://www.forexfactory.com/news.php?do=news&id=108707
A triangle would suggest a bounce to complete wave E, before crashing down to test a new low over the next few months.
My Eur long was good for 670 pip up to last night, then banked. USD may give a lot more back, but looking for a few clues on a small wave 5 start.
Your are rockinghttp://www.forexfactory.com/images/smilies/yim/thumbsup.gif.. 670pips in Eur, congrats.
I only managed 200+ pips in EurUsd long, closed my trade early.
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#434
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 4:30am
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
Senior Member
Member Since Nov 2007
http://www.forexfactory.com/images/misc/3kt.gif594 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Blue, there is a good weekly CAD chart showing a large triangle and support level around 1.2050 - look in the news section from James Chen.
http://www.forexfactory.com/news.php?do=news&id=108707
A triangle would suggest a bounce to complete wave E, before crashing down to test a new low over the next few months.
My Eur long was good for 670 pip up to last night, then banked. USD may give a lot more back, but looking for a few clues on a small wave 5 start.
Attached here USDCAD for reference..
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=150967&stc=1&d=1222245026
Sep 24, 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
http://www.forexfactory.com/images/icons/icon1.gif
Cable chart.
Red color label is my alternative count..
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=150998&stc=1&thumb=1&d=1222251610
http://www.forexfactory.com/images/buttons/quote.gif #439
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 8:08pm
http://www.forexfactory.com/nfs/avatar70235_12.gifNuckingFuts
Nudist
Member Since May 2008
http://www.forexfactory.com/images/misc/10+kt.gif1,105 Posts
http://www.forexfactory.com/images/icons/icon1.gif Go easy on me
I got something right here http://www.forexfactory.com/images/smilies/yim/rolling_on_the_floor.gif
http://www.forexfactory.com/attachment.php?attachmentid=131352&stc=1&thumb=1&d=1216355024
or
http://www.forexfactory.com/attachment.php?attachmentid=131353&stc=1&thumb=1&d=1216355024
Should we expect wave 5 or 3 in the coming months?
Quote:
Originally Posted by NuckingFuts http://www.forexfactory.com/images/buttons/viewpost.gif
As you can see I am definitely not an Elliot Waver.
Wishful thinking EW experts?
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#440
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 9:07pm
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/icon1.gif EUR Elliot
Quote:
Originally Posted by NuckingFuts http://www.forexfactory.com/images/buttons/viewpost.gif
I got something right here
Should we expect wave 5 or 3 in the coming months?
Looks like you got it. Nice to start on the monthly to get your bearings and foundation correct, otherwise it get harder in smaller time frames.
Both charts are good. I support your first chart, and am looking for wave 5 up, if 4 is done.
My reasoning is that chart 2 loses the count by getting the "degree" mixed up.
The second chart is accurate if 5 is the end of larger degree 1.
And C is the end of larger degree 2. IMHO.
It is like a computer code, where subsets are nested. With just one nesting, it is easy to follow, but when you have 10 nestings, then you have to punctuate your code to avoid an unclosed bracket. i.e. the last </ >
<A>
. . .<a>
. . .</a>
</A>
There are guidelines for degree, and structure in Elliott, which help in learning. Old timers can look at any chart and count waves, including some subsets like an extension (a wave inside a wave - typical in a 3rd wave for forex).
Hope that helps a bit. Keep posting your charts! http://www.forexfactory.com/images/smilies/yim/happy.gif
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#441
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 9:18pm
http://www.forexfactory.com/nfs/avatar70235_12.gifNuckingFuts
Nudist
Member Since May 2008
http://www.forexfactory.com/images/misc/10+kt.gif1,105 Posts
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Looks like you got it. Nice to start on the monthly to get your bearings and foundation correct, otherwise it get harder in smaller time frames.
I support your first chart, and am looking for wave 5 up, if 4 is done.
My reasoning is that chart 2 loses the count by getting the "degree" mixed up.
It is like a computer code, where subsets are nested. With just one nesting, it is easy to follow, but when you have 10 nestings, then you have to punctuate your code to avoid an unclosed bracket.
<A>
<a>
</a>
</A>
There are guidelines for degree, and structure in Elliott, which help in learning. Old timers can look at any chart and count waves, including some subsets like an extension (a wave inside a wave - typical in a 3rd wave for forex).
Hope that helps a bit. Keep posting your charts! http://www.forexfactory.com/images/smilies/yim/happy.gif
Thanks FXoffshore, sure does help.
My only concern with EW is exactly where to start the count. I will be looking right into this when I can as I find it quite similar to the electrical impulses of the human heart beat (QRS complex etc..). At least the concept anyway.
There has to be a pulse in the market, it's driven by many of them http://www.forexfactory.com/images/smilies/yim/big_grin.gif
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#442
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 9:23pm
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 Crossroad
Quote:
Originally Posted by doji http://www.forexfactory.com/images/buttons/viewpost.gif
Guys, has Wave-C ended on the EUR/USD pair?
It looks to me like it's still completing Wave 4, and is, therefore due for another wave up ?
Am I wrong?
Thanks!
Great question. We at the crossroads now.
With the past 2 week rally still in 3 waves, it could be either: [*]A-B-C as part of intermediate w.4 of large w.C (or)[*]1-2-3 as part of large w.5I got out at 1.4800 with 670pips to see what direction the market would take. I lean toward we are in a 4, looking for 5 to break higher soon/tonight? Reason, all the impulses waves up, not all zig-zags?
But I'll wait for the market to lead.
Personally, I am looking at support to hold at 1.4570 if it gets that low, or a break above 1.4750 range.
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#443
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 9:29pm
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/icon1.gif Heart Impulse Waves
Quote:
Originally Posted by NuckingFuts http://www.forexfactory.com/images/buttons/viewpost.gif
I will be looking right into this when I can as I find it quite similar to the electrical impulses of the human heart beat (QRS complex etc..). At least the concept anyway.
There has to be a pulse in the market, it's driven by many of them http://www.forexfactory.com/images/smilies/yim/big_grin.gif
Yes, good impulse wave remind me of a heart beat shape. Our designer shows clues that math and fractals are in all His creations.
I would love to hear what you find on heart impulses - summary or article links? Please let us know.... http://www.forexfactory.com/images/smilies/yim/nerd.gif
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#444
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 10:09pm
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/icon1.gif Not really
There are turning points at times, this is one of them for me. Another trader could say I'm long until 1.5500. My style is conservative because I trade a large capital base, my priority is preservation of capital, profits come second.
Generally, when I see 5 waves one way, then a 3 correction, I am in, and make out well. I can see that in any time frame, in most securities.
I can trade a naked chart by price action alone. Or candles, or S&R. Been there and done that. I was trading 30 years ago, kid.
I would be glad to answer your questions, and can be patient, but I deserve respect - don't be rude to me.
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#445
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 24, 2008 10:17pm
http://www.forexfactory.com/nfs/avatar79975_2.gifmy30marahaba
Member
Member Since Sep 2008
464 Posts
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Quote:
Originally Posted by steelhead http://www.forexfactory.com/images/buttons/viewpost.gif
Perfect post on why this indicator cannot be trusted. Could be a-b-c as part of itermediate wave 4? or 123 as part of wave 5? Come on this is hilarious.
Again this is why you cant trust it. Could be this or could be that. Ten different traders will give you ten different scenarios about elliot waves.
Dear Sir,
Would you please correction of the CHF chart I try learned of this wave method.. looks like good for take the short if the support break .
Please advise the point C am i right to draw base on this wave method
best regards,
my30marahabahttp://www.forexfactory.com/images/smilies/peace.gifhttp://www.forexfactory.com/images/smilies/yim/thinking.gif
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#446
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 2:27am
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/icon12.gif How to start a count
Quote:
Originally Posted by NuckingFuts http://www.forexfactory.com/images/buttons/viewpost.gif
Thanks FXoffshore, sure does help. My only concern with EW is exactly where to start the count. http://www.forexfactory.com/images/smilies/yim/big_grin.gif
That is a good question, it is the kernel of Elliott skills. It depends on the trader, so others may do it a different way. By all means speak up, anyone.
In summary, I look for certain distinguishing or unique patterns, in tight bar view, never candles. Sometimes line view removes noise. [*]a vertical move is often a wave 3, sometimes w.1 starts like a rocket[*]a contracting triangle is typical of a wave 4 or B (never a w.2)[*]a sharp 3 wave retracement is a typical w.2[*]a meandering retracement may be a w.4a significant bottom or top is tricky because it is not always the extreme tick, like in the case of a truncated w.5 - so avoid starting there.
I start by looking on weekly or daily charts, then progress to smaller time frames to get it right. I look for those vertical or triangle patterns to anchor my count. then start counting 3s or 5s, applying labeling after some prep has been done.
When it comes to labeling, I don't begin there, it is the last thing I do. Also, I consider alternative counts, so I can eliminate them or prioritize them as the market moves. 'ALT' counts are risk management for me, plan B and C are on the table, but the preferred count is the one that satisfies the most rules/guidelines. The temptation is to favor a count that supports a traders presupposed bias, guard against that. Be open to all counts that are valid, but experience will teach which ones are likely. If a rule is violated, let the count go - don't ignore the solid violation.
I compare intra-market charts as well, other currencies, like Swissy is great for Eur to confirm a count. Gbp/Usd is good also. Gold and Oil have been highly correlated with EUR, and make advance moves that help.
Often I will confirm a count using a MACD like oscillator that ebbs and flows over a 0 line. Wave threes have the biggest hump, w.4 crosses the naught line, and w.5 almost always shows divergence.
Another standard is to put every trend into equal channels. After a while you get to know the personality of patterns and where they will go within the channel. As soon as 1 and 2 appear to be done, I'll put a channel on it as a guide where 3 will touch, 4 will retrace, and 5 will finish. 2 and 4 are your base line, or 0 and B in a correction. Very powerful and reliable tool.
My goal is to find and track setup wave (2, 4, B) to enter clear 3, 5, or C impulses. 3 and C are the relaible money makers, and since they are fractal, they are in different degrees/char time frames for any currency.
I favor majors, like EUR/USD, over synthetic pairs. Try to stick to one or two currencies that are not correlated or inverse.
There is much more, but that is a summary. Get Prechters book, or Neely if you are a geek. And practise. Post your charts here and ask for feedback.
It is not true that 10 traders will give 10 different EW counts, it is a myth. There can only be a few valid counts, typically 2, but up to 4+ in wave 4. Complex corrections are the hardest to count, so don't sweat those, remember that the rules for impulse wave are quite strict, and if it is not a clear impulse 5: - then by default it is a correction. If bars are going sideways or overlaping a lot, it is a correction. If you don't know what it is, it is a correction.
Like a puzzle, Focus on what you can identify, and leave the toughest for last, is good advice.
This thread can help, or Grega EW by daily email is a bargain for $39/mo, learn from a pro if you want to learn fast. I use Grega and Elliott Wave International paid subscriptions - to confirm or challenge my counts. At the highest levels, they best tend to have about the same counts. Jaime Saettle at DailyFX has a good free perspective. Some in this group are excellent.
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Last edited by FXoffshore, Sep 25, 2008 2:45am
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#447
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 3:11am
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/icon1.gif Eur going higher
A small 5 impulse is just completing in EUR, will look for entry long after a 3 wave correction, around 1.4695. It should keep going up, but caution NY opening for news.
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#448
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 3:30am
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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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
That is a good question, it is the kernel of Elliott skills. It depends on the trader, so others may do it a different way. By all means speak up, anyone.
In summary, I look for certain distinguishing or unique patterns, in tight bar view, never candles. Sometimes line view removes noise. [*]a vertical move is often a wave 3, sometimes w.1 starts like a rocket[*]a contracting triangle is typical of a wave 4 or B (never a w.2)[*]a sharp 3 wave retracement is a typical w.2[*]a meandering retracement may be a w.4a significant bottom or top is tricky because it is not always the extreme tick, like in the case of a truncated w.5 - so avoid starting there.
I start by looking on weekly or daily charts, then progress to smaller time frames to get it right. I look for those vertical or triangle patterns to anchor my count. then start counting 3s or 5s, applying labeling after some prep has been done.
When it comes to labeling, I don't begin there, it is the last thing I do. Also, I consider alternative counts, so I can eliminate them or prioritize them as the market moves. 'ALT' counts are risk management for me, plan B and C are on the table, but the preferred count is the one that satisfies the most rules/guidelines. The temptation is to favor a count that supports a traders presupposed bias, guard against that. Be open to all counts that are valid, but experience will teach which ones are likely. If a rule is violated, let the count go - don't ignore the solid violation.
I compare intra-market charts as well, other currencies, like Swissy is great for Eur to confirm a count. Gbp/Usd is good also. Gold and Oil have been highly correlated with EUR, and make advance moves that help.
Often I will confirm a count using a MACD like oscillator that ebbs and flows over a 0 line. Wave threes have the biggest hump, w.4 crosses the naught line, and w.5 almost always shows divergence.
Another standard is to put every trend into equal channels. After a while you get to know the personality of patterns and where they will go within the channel. As soon as 1 and 2 appear to be done, I'll put a channel on it as a guide where 3 will touch, 4 will retrace, and 5 will finish. 2 and 4 are your base line, or 0 and B in a correction. Very powerful and reliable tool.
My goal is to find and track setup wave (2, 4, B) to enter clear 3, 5, or C impulses. 3 and C are the relaible money makers, and since they are fractal, they are in different degrees/char time frames for any currency.
I favor majors, like EUR/USD, over synthetic pairs. Try to stick to one or two currencies that are not correlated or inverse.
There is much more, but that is a summary. Get Prechters book, or Neely if you are a geek. And practise. Post your charts here and ask for feedback.
It is not true that 10 traders will give 10 different EW counts, it is a myth. There can only be a few valid counts, typically 2, but up to 4+ in wave 4. Complex corrections are the hardest to count, so don't sweat those, remember that the rules for impulse wave are quite strict, and if it is not a clear impulse 5: - then by default it is a correction. If bars are going sideways or overlaping a lot, it is a correction. If you don't know what it is, it is a correction.
Like a puzzle, Focus on what you can identify, and leave the toughest for last, is good advice.
This thread can help, or Grega EW by daily email is a bargain for $39/mo, learn from a pro if you want to learn fast. I use Grega and Elliott Wave International paid subscriptions - to confirm or challenge my counts. At the highest levels, they best tend to have about the same counts. Jaime Saettle at DailyFX has a good free perspective. Some in this group are excellent.
Your are the man!!
Thanks a lot FXoffshore for sharing your knowledge with us.
It helps me in many ways.
Attached 1-5wave EurUsd chart which you mention above.
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#449
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 3:47am
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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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.
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Sep 25, 2008 7:30am
pipeye
Member
Member Since Dec 2007
149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Eur/Usd
Does anyone else see this as the possible start of wave 2 of 5 on the Eur/Usd. Looks like a double zig-zag, completing at the 78.6.
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http://www.forexfactory.com/images/buttons/quote.gif #453
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 7:53am
http://www.forexfactory.com/nfs/avatar57113_1.gifBsitd
Member
Member Since Dec 2007
1 Posts
http://www.forexfactory.com/images/icons/icon1.gif wave 2 complete
agree. wave 2 rarely exceeds 78.6 do not see 5 waves in c wave unless alternation of wave 2 is complex and wave four simple My 2 cents
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#454
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 9:33am
pipeye
Member
Member Since Dec 2007
149 Posts
http://www.forexfactory.com/images/icons/icon1.gif Eur/Usd (update)
Does anyone else share this perspective? I am pretty new to this.
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#455
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 12:14pm
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 3 correction
Quote:
Originally Posted by pipeye http://www.forexfactory.com/images/buttons/viewpost.gif
Does anyone else share this perspective? I am pretty new to this.
Think we can count three completing in Euro now. Entry long is near.
However, I would wait for a hold near 1.4630 and the turn up, because 2 is very deep.
Risk is at 1.4602, if it goes that far, the count is wrong, and step aside.
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Last edited by FXoffshore, Sep 25, 2008 12:29pm
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#456
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 12:56pm
http://www.forexfactory.com/nfs/avatar20353_2.gifkevmcfoster
Jai Shewaramani
Member Since Sep 2006
82 Posts
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gold
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#457
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 3:02pm
Wilko
Member
Member Since Nov 2007
27 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
Just my view at the moment ...
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#458
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 5:52pm
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 Golden chart
Quote:
Originally Posted by kevmcfoster http://www.forexfactory.com/images/buttons/viewpost.gif
gold
Good chart, thanks. I agree that the degree of Gold correction goes back to 1999, so it is large, not intermediate. The large w.B is likely where are at now, with a new low in w.C months down the road. $600 is my target for an entry, to go long, and add some coins. I am constantly amazed how news events do not change the large Elliot counts, they just add fuel to the trend. It makes me wonder how this credit crises and bank fiasco will hold it together to complete the trends, before a meltdown happens?
Do you look at oil also? I would like to exchange ideas about oils pattern. Will we see another low below $90 this fall?
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#459
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 6:06pm
http://www.forexfactory.com/nfs/avatar75371_1.gif5ysfx
Futurologist/pogodynka
Member Since Jul 2008
http://www.forexfactory.com/images/misc/4kt.gif2,708 Posts
http://www.forexfactory.com/images/icons/icon1.gif eu 15M
chart
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#460
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 6:28pm
Gwyndaf
Member
Member Since Sep 2008
8 Posts
http://www.forexfactory.com/images/icons/icon1.gif Gwyndaf
Pipeye, I think you're reading too much into it, would you really want to trade the (iii) to (iv) fo instance? probably not anyway, but I notice you're trading the 15 min chart, I stopped using 15 mins and 30 mins a while ago, but I do use the 5 min chart for entries, sometimes trade off of it, and use the 1 hour for planning.
My suggestion would be to do the same kind of view with a 1 Hour chart and take as a 1 , you're (v)/1 as a 2, and then expect wave 3 to end lower than .
In all my EW readings I have never come accros 15 and 30 minb charts, 5min seems to work!
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#461
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 25, 2008 7:35pm
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Futurologist/pogodynka
Member Since Jul 2008
http://www.forexfactory.com/images/misc/4kt.gif2,708 Posts
http://www.forexfactory.com/images/icons/icon1.gif gold
my view
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#462
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 26, 2008 2:41am
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/icon1.gif Gold targets
Where do you see Gold going? Dow you have any targets or support zones?
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#463
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 26, 2008 2:49am
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Quote:
Originally Posted by FXoffshore http://www.forexfactory.com/images/buttons/viewpost.gif
Where do you see Gold going? Dow you have any targets or support zones?
previous resistance ~847
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#464
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 26, 2008 1:50pm
http://www.forexfactory.com/nfs/avatar54182_2.gifBlue bottle
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Cable.
2 possible wc (red & blue color) for this pair.
If market movies with Red WC then we may possibly see 1 more up move for w5. Its too in moving in channel form, so it may touch the lower channel for w4 and go up for w5.
If w4 touches w1 then this 12345 will become invalid..now almost very near to w1.
Lets wait and see..
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#465
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 27, 2008 5:03pm
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Hi all
Here is my second view for EUR/USD i think this time is more mature and reliable.
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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
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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
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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
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 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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Sep 29, 2008 4:08am
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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/buttons/quote.gif #482
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
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 29, 2008 6:58pm
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
work in progress
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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.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=152791&stc=1&thumb=1&d=1222767568
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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
Member
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
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 6:45pm
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
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 6:46pm
Tmac
work in progress
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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
Senior Member
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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
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 30, 2008 7:45pm
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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Member Since Jul 2008
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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
Senior Member
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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
Senior Member
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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
Senior Member
Member Since Nov 2007
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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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Member Since Nov 2007
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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
Futurologist/pogodynka
Member Since Jul 2008
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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
Senior Member
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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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Member Since Jun 2008
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
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 1, 2008 1:54pm
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
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
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
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 gbp aud
hi
gbp aud end of wave b
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153842&stc=1&thumb=1&d=1222966001
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#519
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 12:47pm
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
wave 5
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=153844&stc=1&thumb=1&d=1222966120
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#520
http://www.forexfactory.com/images/statusicon/post_old.gif Oct 2, 2008 5:51pm
ffwuc
Member
Member Since Aug 2006
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
Senior Member
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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
work in progress
Member Since Oct 2007
http://www.forexfactory.com/images/misc/6kt.gif747 Posts
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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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