Thread: 1) Do you have a question on Elliott Wave trading?

Should you have a question about trading with Elliott Wave, here is the place where you can ask an instructor. The instructors are available 24 hours per day during worldwide business hours (Sunday afternoon thru Friday afternoon New York time). You will see the instructor's response posted after your question. (If you need help posting a chart, watch this short VIDEO.)

Originally Posted by Jeremy Wagner

Should you have a question about trading with Elliott Wave, here is the place where you can ask an instructor. The instructors are available 24 hours per day during worldwide business hours (Sunday afternoon thru Friday afternoon New York time). You will see the instructor's response posted after your question. (If you need help posting a chart, watch this short VIDEO.)

In an ending diagonal is it possible to have a 1-2 1-2 or does it have to stay 12345? i dont think it is a possible but i am not 100% sure, i havent read anything that says it cant be 1-2 1-2, is this just common sense.

Originally Posted by shootinpips

In an ending diagonal is it possible to have a 1-2 1-2 or does it have to stay 12345? i dont think it is a possible but i am not 100% sure, i havent read anything that says it cant be 1-2 1-2, is this just common sense.

According to my limited knowledge, Wave 1 & 3 & 5 should be ZigZag, Double or Triple ZigZag
1-2-3-4-5
(3-3-3-3-3)rare

Please advise schedule for elliot wave live webinars Fx trading?

Originally Posted by jOHNPB

Please advise schedule for elliot wave live webinars Fx trading?

It will vary from week to week...

Every Sunday evening the Event Schedule for the upcoming week is posted.

Click on the link below to view it...

https://plus.dailyfx.com/tnews/index...b=fxcm&lang=en

Also, the Elliott Wave Forum can be visited at the following link...

Elliott Wave - DailyFX Forex Forum | FX Forum

Hi. I just watched the elliot wave videos on dailyfx. I thnk i found a forming 12345 elliot wave going down on gbpusd. according to the guidelines i just learned from your tutorials. please confirm.

Originally Posted by locojava

Hi. I just watched the elliot wave videos on dailyfx. I thnk i found a forming 12345 elliot wave going down on gbpusd. according to the guidelines i just learned from your tutorials. please confirm.

Your count appears to be valid, but there are always alternate counts to be aware of. What I would suggest is checking your analysis with an expert such as Jamie Saettle at Forex @ DailyFX - Currency Trading News, Forex Trading News, FX News, Forex News.

Here is a link to his most recent analysis on the GBP/USD

Forex @ DailyFX - Elliott Wave | Forex Technical Analysis

Hi. I have a question.

I'm counting the Istanbul Stock Exchange

Here's my count:


I heard somewhere that because wave 2 of the highest degree in this model is a triangle chances are the wave that it is in will only be a 3 wave structure.

so here's the question:

is it not possible for triangles to occur on wave 2 of an impulse?

thank you

Your count looks good. It is important to keep in mind that Elliot Wave is very subjective and your preferred count might not be the actual count. Anything is possible. Yes, wave 2 would be a three wave structure.

thank you for your answer but i don't think i have been able to ask my question the right way.

my question is this.

when you see a triangle on the wave 2 of the larger formation does that mean that the larger formation will most probably end up being a correction (3 waves) rather than an impulse (5 waves)? should we trade on that?

in this particular case since wave Y on my chart was a triangle, does that mean that 84.985 will most probably not be surpassed and remain as the top for quite a long time? Then this whole thing between 70.000 and 85.000 becomes an ABC instead of a 1/2/3

thank you

Originally Posted by skinnypuppy

thank you for your answer but i don't think i have been able to ask my question the right way.

my question is this.

when you see a triangle on the wave 2 of the larger formation does that mean that the larger formation will most probably end up being a correction (3 waves) rather than an impulse (5 waves)? should we trade on that?

in this particular case since wave Y on my chart was a triangle, does that mean that 84.985 will most probably not be surpassed and remain as the top for quite a long time? Then this whole thing between 70.000 and 85.000 becomes an ABC instead of a 1/2/3

thank you

Hello Skinnypuppy...

A triangle appears in the 4th position of a 5 wave move or in the B position of an A-B-C correction. A triangle consists of 5 waves a-b-c-d-e. I could only count 3 waves in your Y move. Therefore, the way you have it labeled looks good.

When looking at Elliott Wave counts, I like to look for triangles to help me gauge where the sequence may be at. Since triangles are specific and show up in wave 4 or wave B, once I see one, it helps me align what the next move may be.

Originally Posted by Jeremy Wagner

Hello Skinnypuppy...

A triangle appears in the 4th position of a 5 wave move or in the B position of an A-B-C correction. A triangle consists of 5 waves a-b-c-d-e. I could only count 3 waves in your Y move. Therefore, the way you have it labeled looks good.

When looking at Elliott Wave counts, I like to look for triangles to help me gauge where the sequence may be at. Since triangles are specific and show up in wave 4 or wave B, once I see one, it helps me align what the next move may be.

thanks for the detailed explanation but i don't think i have been able to ask my question properly.

let me try again. just to make sure i get it right this time i will ask the same question from different angles

here is my question:

given the triangle marked with a large red triangle do you believe that this thing can head north again and go past 86.200? (that would be Green 5) what are the odds? impossible? because i think it will..

or

Any chance for Green 3 instead of Orange C at 86.200?


or

does the red triangle make the Green 3 at 86.200 an impossibility?

or

is this definitely going down, down, down...?

Again, while you show an advanced understanding of potential wave counts, I think you are misunderstanding the intended purpose of Elliot Wave and how it is used. There is no such thing as a guarantee or an impossibility. All we have are potential counts that may or may not hold depending on price action. It is not a mathematical formula that can be calculated with an exact result.

As I mentioned, your count looks good, but it is your preferred count. You should have an alternative count in mind in case the market does not adhere to your preferred count.

Originally Posted by Matt Russell

Again, while you show an advanced understanding of potential wave counts, I think you are misunderstanding the intended purpose of Elliot Wave and how it is used. There is no such thing as a guarantee or an impossibility. All we have are potential counts that may or may not hold depending on price action. It is not a mathematical formula that can be calculated with an exact result.

As I mentioned, your count looks good, but it is your preferred count. You should have an alternative count in mind in case the market does not adhere to your preferred count.

Hi Matt. Thanks for the answer. I know there is no absolute certainty involved with EW, however I asked my questions in a very extreme fashion deliberately to make sure i could relay the question itself this time. So EW folklore says there are no triangles in wave 2. Triangles appear only in wave 4 and B. How certain are we of this guideline? Because I think it will be breached soon when the Istanbul Stock Exchange shoots to new world records with a triangle in wave 2.

My pleasure. Elliot Wave is very subjective and they are all general rules, exceptions can occur at anytime, or it could just be a slightly different count.