Thread: Elliott Wave Trading Discussion

Originally Posted by kaori

As far as I am aware "elliott wave" oscillator is misleading name for it, because it´s actually billy williams oscillators.

The number section doesn´t say anything for me. Can you provide link to the marketscope I´ll take a look ?

Hi kaori

thats the chart with these oscilators

Originally Posted by justy10125

You cannot have a truncated expanding diagonal. .

you know that i am in the very opposite camp.. but.. sometimes i wonder - is something IMPOSSIBLE, because mr. Prechter says so? are markets dynamic? do they change? do they have to fit into a simple framework of three rules?

thats is in fact the reason why my strict elliot waving has drifted into free tapereading.. because i started to see and believe that everything is possible.

you quite often emphasized that trading is thinking outside the box - so why are you locking yourself into this frame of reality that is in your head? (or the books for that matter; the same books that tell you buy when MA9 crosses MA21)

i think the trades & success of marketwavez2 are a living example of freeform counting, and justy, you have had alot of discussions with him regarding his counting, havent you

i know you wont take this comment personal, and you even dont have to answer to it, it is just food for thought.
we are all different, so what works for you is what you should ultimately use (not what you read in a forum)... good luck

Originally Posted by Arnaldo

Hi Mike,

Its the same someone else already posted... since I am a very bad wave counter I am only focused on a big head and shoulders in formation and the volume.... and a global guessing or perhaps an internal feeling that something is very wrong...

I am so confused!

are you and Marketwavez and mister Tyler Durden are one person?

Or I need a cold shower?

Marketwavez,are you there?

Originally Posted by Gizmo

What do you mean something is very wrong. Haven't you read the article in Reuters that the Global recession is coming to an end.

Global recession ending: OECD - Yahoo! Canada News

Sure, its on the press already.... and as we all know, press never lies... nothing to worry about.... its over, lets buy stock and houses and cars and, and, and whatever we can buy to give a litle more heath to the economy....

Originally Posted by apipintime

No one ever said it was the same. There was never any mention of an ending diagonal. The diagonal that was being discussed was an expanding diagonal

i always thought the categories were the following:

- Impulses

1. 1st Wave Extention
2. 3rd Wave Extention
3. 5th Wave Extention
4. Terminals/Diagonals
   • Contracting Diagonal
   • Expanding Diagonal
   
   

- Corrections

1. ZigZags
2. Flats
3. Triangles
4. Other...

point here is an expanding and contracting diagonal are both of the same kind (rare) impulses, not that it does matter..

Originally Posted by qsx

thats is in fact the reason why my strict elliot waving has drifted into free tapereading.. because i started to see and believe that everything is possible.

you quite often emphasized that trading is thinking outside the box - so why are you locking yourself into this frame of reality that is in your head?

You just can't commit to 'discipline'....that's all!

you're truly a free spirit man

Originally Posted by mike3gdc

You just can't commit to 'discipline'....that's all!

you're truly a free spirit man

yeah, whether for my good, or my bad, you are very right about this one

Arnaldo, it´s impossible to say without seeing a code, but I bet 90% that it´s one of the billy williams oscillators, just named as "elliott wave". There´s no such a thing as elliott wave oscillator exist.

Oscillators world is very odd when it comes to elliott wave; peoble add fibonacci numbers all over the place without no any kind of understanding what they actually means. Example of this is simple SMA´s or RSI´s.

The elliott wave number oscillator doesn´t say for me anything.

Btw. I heard some time ago that Billy Williams made nice curve in the market to wonder how to make success, so after million and millions of hours spending with oscillators and years and years wondering to find succesfull trading setups he finally turned all way back to basics meaning chart patterns and all other basic stuff like trendlines etc.

Eurodollar headed much lower from here, a probable count. Although with Labor Day in US, count may change...

Originally Posted by Arnaldo

Sure, its on the press already.... and as we all know, press never lies... nothing to worry about.... its over, lets buy stock and houses and cars and, and, and whatever we can buy to give a litle more heath to the economy....

And the press is even helping here since they even put a list here for the top 10 stocks to buy for the next 10 years. Maybe in 10 years they will be worth buying. Now better go out and buy.

Originally Posted by mike3gdc

Hey Luckylady

Nice charts,good introduction! you're indeed Lucky (not sure about the lady side though!!) that you found this forum!
I had the same extacy when I discovered my like-minded people in this world! to see,alhthough from different countries and backgrounds,we can actually talk same lanugage! one language! EW language! it was such a amazing feeling!

Welocme to our Community! yes,the unique thing about the folks here: open in mindedness,forgiveness and willingness to learn and to teach! wonderful atittutes in my opinion...

Thanks Mike.

On the same chart, we could also now be forming B to go much higher, preffered count.

On the premise, we are not done yet moving higher with the stock market

both charts hourly

Originally Posted by qsx

yeah, whether for my good, or my bad, you are very right about this one

i once read something like this...

"the way to the real, ultimate freedom comes with the hard discipline.
without discipline first there will be no freedom at the end"

Originally Posted by apipintime

Wow! It never ceases to amaze me when people like you stumble into a forum demanding this and demanding that. With all of the unbelievable contributions that are made in this forum; with all of the time and effort that people take to share their ideas and help others; with all of the invaluable lessons that are taught for FREE, you still have the nerve to get irritated because their isn't a consistent nomenclature. And on top of that, you feel the need to patronize those who spell things incorrectly. It's attitudes like yours that ruin the spirit of this forum. Unbelievable!!

Thanks Apipintime and Sean for your comments. People deserve credit where credits are due. I have no problem expressing gratitude. You get the odd disagreements betweent posters but for the most part this is an awesome place to hang out.

And I understand the spelling issue. Yes, there is the language barrier but I believe it's mostly caused by typing too quickly. But who cares! I'm glad people are able to get their message out. I don't mind reading comments with spelling mistakes.

Originally Posted by kaori

Btw. I heard some time ago that Billy Williams made nice curve in the market to wonder how to make success, so after million and millions of hours spending with oscillators and years and years wondering to find succesfull trading setups he finally turned all way back to basics meaning chart patterns and all other basic stuff like trendlines etc.

He should be right... Personally I use trend lines (very low tech), support & resistance, patterns, fibonacci and RSI as the only tradable oscillator that give me good accuracy in hourly and 1/2 hour charts... For longer and shorter periods RSI simply doesnt work well... in longer periods (days and weeks) it doesnt pinpoint the exact turning point and in shorter periods its a mad man business... not tradable... And also like to use EW to find were I am at any given moment (I only learned to count from 1 to 5 up and down, so its nothing sofisticated)....

other set of tools simply dont cry on my ears BUY NOW or SELL NOW...