Thread: Elliott Wave Trading Discussion

Originally Posted by Sean Hyman

This is my personal opinion, but gold usually holds up better in a "fear based" or "inflationary" environment, either one. In that case, it would be the fear based one.

Also, gold is very liquid and its easy for big hedge funds to exit stocks and park some money in gold.

Here's a chart of gold vs. the S&P 500. Gold has outperformed the S&P since mid 2007 during all of the credit crunch. I expect that it is likely to keep this uptrend compared to the S&P.

this is what I meant by breaking the green trendline. so IF my count is true then can still the fear factors and other factor beat the ABC correction and hold the gold up there?
appreiate your thoughts...thanks

Originally Posted by kaori

Btw. it´s at the same time 261.8% relation with SPX. Btw. you draw it correctly, I usually allways take it from W3 top. EW books and advisors to draw it the same was as you did.

It's clear now.thanks man

Originally Posted by mike3gdc

this is what I meant by breaking the green trendline. so IF my count is true then can still the fear factors and other factor beat the ABC correction and hold the gold up there?
appreiate your thoughts...thanks

mike, yeah according to those counts you'd either see a big pull back in gold or a big advance in stocks that would take that spread chart of gold/spx down.

I'll keep an eye on it.

Glad you put your counts on there.

EUSUSD Latest count news...

Take a look at my chart.
If you don't see any major mistakes, does it make sense to you?

I am saying that EURUSD could be still good for few hundred pips.
Bear in mind that the minimum objective of 1.4715 was met earlier today.

Hello,

Does anybody know how Jammie calculates support and resistance levels in Elliot waves? or whats the traditional way of calculating them?
Thanks

Originally Posted by Sean Hyman

mike, yeah according to those counts you'd either see a big pull back in gold or a big advance in stocks that would take that spread chart of gold/spx down.

I'll keep an eye on it.

Glad you put your counts on there.

Sean;
There are more than one count for gold.
Personally, I like the one showing that the gold WILL NOT EXCEED MARCH 2008 HIGH and will reverse BEFORE 1030.

While I do not have a position in gold and am impartial, my target for academic purposes only is 1020.

So, trade carefully.

Originally Posted by forexant

Hello,

Does anybody know how Jammie calculates support and resistance levels in Elliot waves? or whats the traditional way of calculating them?
Thanks

Sometimes Fibonacci, sometimes trading channels, sometimes former congestion area.
Every situation is different, but these are the main ones.

Originally Posted by Big Mike

Take a look at my chart.
If you don't see any major mistakes, does it make sense to you?

I am saying that EURUSD could be still good for few hundred pips.
Bear in mind that the minimum objective of 1.4715 was met earlier today.

how do you count your wave iii sub divisions? it does nt seem very impulsive,to me,looks like a lazy camel laying back.

Could you also please tell me about kiwi chart,if you go for expanded flat or other alt count?

many thanks

Originally Posted by Big Mike

Take a look at my chart.
If you don't see any major mistakes, does it make sense to you?

I am saying that EURUSD could be still good for few hundred pips.
Bear in mind that the minimum objective of 1.4715 was met earlier today.

Mike,maybe you'd like to correct a typo on your chart.

your wave 1=5=1300
and wave5=1300=1.5035

Originally Posted by mike3gdc

how do you count your wave iii sub divisions? it does nt seem very impulsive,to me,looks like a lazy camel laying back.

That is exactly the case; it is easy to count the waves on an idealized chart.
But, in practice, there is always "something" to throw your count off.

I took the previous chart and focused on the period from June till now.
This is, what I am getting.
Notwithsatnding the details, the EURUSD has still some legs.

Originally Posted by mike3gdc

Mike,maybe you'd like to correct a typo on your chart.

your wave 1=5=1300
and wave5=1300=1.5035

Changed to 1.51
It wasn't a typo, but the previous number appeared a little high.

Originally Posted by Big Mike

That is exactly the case; it is easy to count the waves on an idealized chart.
But, in practice, there is always "something" to throw your count off.

I took the previous chart and focused on the period from June till now.
This is, what I am getting.
Notwithsatnding the details, the EURUSD has still some legs.

3 of i-ii,i-ii,i-ii? don't you think With an ending diagonal we show less resistance to the market?don't you think you're forcing the count?I am just wondering. cheers

Originally Posted by Big Mike

Changed to 1.51
It wasn't a typo, but the previous number appeared a little high.

Honesty is good thing,specialy in trading.nice

Originally Posted by Sean Hyman

mike, yeah according to those counts you'd either see a big pull back in gold or a big advance in stocks that would take that spread chart of gold/spx down.

I'll keep an eye on it.

Glad you put your counts on there.

agreed Sean,let's keep an eye on her.gold is an interesting story.thanks again for gold/spx chart today.