The Market will move in identifiable patterns that are governed by the rules of Elliott Wave Theory. That is all that is being said. No more, no less. And, it is the very reason that any trader would bother to study the theory and participate in a forum devoted to it.
this is a great verity but each pattern have rules much more strictly of that said in the book of Pretcher
but your Tree top is Give a Decline In elliot Wave Triangle not Ascending...but I bit confused
Book
Justy .. Italm please correct me if i am wrong...
traingles can be ascending or descending...they are continuation patterns...and occurs is wave Bs or 4s as a wave in itself or as a part of a complexe correction.
How can you effectively gauge your probabilities if you don't have rules that allow you to eliminate those scenarios that are no longer valid? It is this identification of patterns that gives you your trading advantage. It allows you to create order out of what seems like chaos. If there were no rules, or the rules were only valid some of the time, then you would have no trading advantage.
You misunderstand me, I don't say EW does not work. It does. But there are many varieties within the patterns that are not always predictable.
From a trading point of view that can sometimes be a challenge. You therefore have to stick to the most probable, and most minimal outcome.
From a traders psychology point of view EW can be especially challenging if you expect market patterns to unfold the way you labelled them. What if the market goes the other way? You cannot take it personal.
That's why I adapted "the market can do whatever it wants" philosophy, to avoid traders block.
In EW that hold true as well, even within defined patterns. You don't know where the price is going. It can reach it target, come short of it, or overshoot it, it "can do whatever it wants".
Now, if you want I can find you some lean hog or soybean charts to stress my point, but I think you get the picture of what I mean.
I agree with Justy from a method point of view. As a trader you need a method that you can rely on. EW is certainly that, a very reliable method. You can always label a pattern after it completed.
traingles can be ascending or descending...they are continuation patterns...and occurs is wave Bs or 4s as a wave in itself or as a part of a complexe correction.
grazie mille = Thank you... very much...
But it seems Like a Descending triangle in when I seen in EWP Book
Again, your misunderstanding the main point. No one said that a particular count has to be correct.The whole point of EW Theory is to identify the possible patterns that are unfolding. From that, you try to eliminate those patterns that have violated the rules of the theory in order to reduce the number of possibilities. Once you have the probability in your favor, you place a trade according to what you have interpreted. If by chance your count happens to be wrong, it doesn't mean that EW Theory is wrong and that the market is moving randomly, it just means that you didn't identify the proper pattern.
Originally Posted by Ilovepippin
You misunderstand me, I don't say EW does not work. It does. But there are many varieties within the patterns that are not always predictable.
From a trading point of view that can sometimes be a challenge. You therefore have to stick to the most probable, and most minimal outcome.
From a traders psychology point of view EW can be especially challenging if you expect market patterns to unfold the way you labelled them. What if the market goes the other way? You cannot take it personal.
That's why I adapted "the market can do whatever it wants" philosophy, to avoid traders block.
In EW that hold true as well, even within defined patterns. You don't know where the price is going. It can reach it target, come short of it, or overshoot it, it "can do whatever it wants".
Now, if you want I can find you some lean hog or soybean charts to stress my point, but I think you get the picture of what I mean.
I agree with Justy from a method point of view. As a trader you need a method that you can rely on. EW is certainly that, a very reliable method. You can always label a pattern after it completed.
That is why it's important to narrow down the possibilities by defining proper patterns that conform to the rules of the theory, as I stated in the above quote from a few posts back. I am pretty sure, in the end, we are saying the same thing.
Last edited by apipintime; 09-10-2009 at 08:06 AM.
GBP/JPY triangle breaks to the upside. 154.60 is the minimum price target. Could exceed it.
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market, you guys rocked since you had counts that showed it breaking to the upside. Awesome! Congrats!
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Trading is then all about your ability to manage the Risk of the
individual trades set-up that you decide to take
==================================================
Successful trading is about you ability to mange Risk
and staying ahead of taxes and inflation //////////
==================================================
basically , as trader ....... you are a Money Manager ,,,,, ,
Trading is then all about your ability to manage the Risk of the
individual trades set-up that you decide to take
==================================================
Successful trading is about you ability to mange Risk
and staying ahead of taxes and inflation //////////
==================================================
basically , as trader ....... you are a Money Manager ,,,,, ,
marketwavez, Yeah, I totally agree. That's exactly what I've learned through the years too. There's no approach that is 100%. So we're left with approaches that give us "edges". And then manage the risk from there. A method of trading that gives a statistical edge over time coupled with good risk management is the closest thing to a "holy grail" that exists. Nothing is 100%. I agree.
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
In Canada...
I dont mind helping you with your language, it would be my pleasure although I have to admit...you would probably help me more with my italian that I would with your english...ha ha. I can speak it well but never had the chance to write it.
Anyways, send me a private message with your email as we must respect those that are non-italian here and work on Elliott Wave only...thats what this forum is for.
What do you think for my Euro charts?
I don't like your count.
Sorry.
This ending is very disproportionate.
I have 2 conts.
The first said that we are in wave 5 of C.
The graph of short time there is the count of wave 4t his is updated a few days ago but is clear.
This possibility is ok until the dotted trend line is intact.
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Originally Posted by ronnimar 
