Thread: Elliott Wave Trading Discussion

I know i have not traded this since i missed the move , just throwing out some counts for feedback. I am not trading it. Just learning. Patience is there.

It sure as hell looks like a 4th wave triangle to me, can anyone else comment.

Mike whats your current count can you post it please.

JJ

Originally Posted by mike3gdc

Hey JJ,


Its certainly a possibabilty.but the rally was like 90 degrees vertical on H4! and another move to wave 5th will make it look abit wierd!

I think odds are in favor some correction...I am out and 'waiting'

Looks like a flat correction from the highs for the Euro:

Originally Posted by forex friend

I know i have not traded this since i missed the move , just throwing out some counts for feedback. I am not trading it. Just learning. Patience is there.

It sure as hell looks like a 4th wave triangle to me, can anyone else comment.

Mike whats your current count can you post it please.

JJ

It might be a zz. if it is, then we're in a wave x. if the triangle is complete then we'll see a very strong move up

Originally Posted by apipintime

Looks like a flat correction from the highs for the Euro:

Jay, that's what it looks like on my chart too . wave 5 is coming up

Originally Posted by justy10125

It doesn't matter whether people act on their wave-counts or not for them to still be a useful tool in analyzing the shared social mood of this forum. You may not agree with me, but the fact is that people do allow their personal opinions to bias their wave-counts.

I don't totally disagree. People do allow their personal opinions and wave counts are sometimes biased, but, many ellioticians have multiple wavecounts, and you won't see all of those here.

I never mentioned market extremes.

I did. That is exactly the area where Elliott Works best interms of calling a top or bottom. Possibly we are talking 2 different topics here.

But either way, Elliott Wave Theory is not a contrarian approach. It is only a description of how markets behave. It simply tells how and why markets ebb and flow like they do. If you choose to take that information and fade the trend, then that is your trading system that is dictating that, it has nothing to do with what EW is all about.

I don't follow EWI so I can't really comment on how they are fading the mainstream... Maybe you can elaborate.

Eventhough EW is not a contrarian method per se, it is contrarian to mainstream at market extremes, like wave 5's or currently, where mainstream says the recession is over and most EW people say that this is a bear market rally. Prechter himself is portrayed as a renegade, standing alone when he called for a top in 2008, where mainstream said that the sky was the limit. Right now they (EWI) are doing the same thing. What many people don't know however is the EWI alternate count, and all I can say is that it is somewhat less bearish. EW for me is not only in the labels, a lot can be learned from the wave personalities and descriptions. Wave personality is more important than the labels.

I don't need somebodies real name in order to see what's going through their head. The way they talk and the charts they post says it all.

Since I am not a psychiatrist, I like to stay away from that area. I don't want to try to read into things that may or may not be there. I'll let the chart do the talking. But if it works for you, than stick to it. Everything is good as long as it works.
What I look for are things like newspaper/magazine headlines that shout: "the recession is over!" "Bernanke agrees to another term, with a quote:"I was not going to be the Chairman of the Fed during a second Great Depression", "Obama gets the Nobel Peace Price", "2012 the end of the world" etc. Those are extremes and tell you a lot about the collective social mood.

Originally Posted by Jayrad

Hi Mike,

I'm thinking that the entire C leg on your charts is actually a double zig-zag.

Jayrad,thank you for your note...I made a mistake the way I counted kiwi.I counted like a impulse wave where as its a correction.

I agree with you that its a double zigzag.


therefore the following chart is no longer valid

Originally Posted by apipintime

Looks like a flat correction from the highs for the Euro:

OR A contracting triangle...your C rather looks like an ABC.

Originally Posted by mike3gdc

Vincy,once you really understand and learn the EW art and "yourself",then making money is just few clicks away.
I am more concern with learning the craft than being obssesed about making money from it...


Best,

Yes ... that is I want to.. and I am Doing as well with Very Confidently With a Spirit GOLD Of GOAL. We Both Doing Same Mike......The Difference is I am READING and Listening More and You Asking And Questioning More..YES In My way Elliot wave is an Art Of Your SOUL Craft ... Is an Art That Give's You Much Reliable point that you can Ask from your self ... that is my Trade TIME.. Does That Valid When i am going Enter ..and Put My Valuable Most Previous Money..WIth all conformation with MM..

=========================================================

Trading is a Rhythm...


For Example ...


Elliot wave .....Start = 12345 abcde... over...

Harmonic ... ...Start = XABCD.. e with end conformation..

Delta theory ....Start = 1 to 11 ITD less on under Mtd 12 some people use with differently ...

Trigonometric .... an Act Based on Theory Of When the diagonal of a square ABCD = 2656, the perimeter of the same square ABCD = 7512
The diagonal of a square BFEG with sides of 5312 (2 x 2656) = 7512
When the hypotenuse of an isosceles right triangle BGE = 7512, one-half of one leg of the triangle = 2656


Geometric ==...ratio square root of Phi,geometry was about building a microcosm to reflect 5 cubes, create 40 vertex, 2 at each dodec vertex

(2 tetra/cube)

cube edge ratio to dodec edge=1.618033989...


Gantt === Use a Gantt chart to plan how long a project should take.
A Gantt chart lays out the order in which the tasks need to be carried out.with long Term Stocks Charts..


Wave59====Wave59 requires a data source to get data into charts. For real-time data, you will need a subscription to one of the supported data feeds. ..With count 5.9.............9 Higher High .. 9 lower low // 5 higher high 5 lower low...


FIBONACCI ==== the golden numbers Game.. Fibonacci number that is prime (sequence A005478 in OEIS). The first few are:
2, 3, 5, 13, 89, 233, 1597, 28657, 514229, ..


ICHIMOKU ==== A Customize Indicator with 9 26 52 .. The every Days Weeks and Year have His Own Meaning ....Like a Mouse Bring a Trouble In your Home while he is in your home ..


THEY ARE ALL PEOPLE DEVOTED THERE TIME AND HOW TO FOLLOW THE RHYTHM WITH MARKET
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In this word i think We should know every single topic that Improve My aye Trading....for Successful..

......the Problem is I heard From My dad... as well others... TECHNICAL CHART ANALYSIS IS NOT MUCH RICH... ..any pros..

but fundamental Are...
-------------------------------------------------------------------------

AND Aye Go and Read Books that Educate Me In THIS WORLD as well In Forex as Stocks...

Because Education is the Only Destination of MAN KIND SUCCESS..

MY Dad is a pro stock Trader.. and He is way Beyond Compare to me.. I am nothing ...I can say he great..

But I want Just Do and Prove my Study More Successful Compare to Anybody.. anybody...


BECAUSE Mike..A MAN BUT PRODUCT OF HIS THOUGHT WHAT HE THINKS HE BECOME'S....

In My age I do My work Most Honestly .. and you can Come and see My age group (guysThey are hanging out do Drugs and wine)..


I seek this is Pathetic.......I am happy to Put my self into right Direction And Just What i WANT 2)


Cheer........

regards

WANG

Originally Posted by forex friend

It sure as hell looks like a 4th wave triangle to me, can anyone else comment.

Mike whats your current count can you post it please.

JJ

Here you are

Originally Posted by mike3gdc

OR A contracting triangle...your C rather looks like an ABC.

We are in wave 5 of C as we speak. Here is the breakdown on the 5 min chart.

Cable

We should have one more wave up on Cable before we drop in a wave 2. I will post a chart when I can, but I have is in wave (iv) of 1. I have a Monthly R1 pivot at 1.6569, which also lines up with the 38.2% Fib extension of waves 1-3 from 4(common for wave 5's) that should serve as the termination point for this wave 1.

With USD being one of the bigger % gainers on the day...and CAD being one of the % losers on the day, one might do some wave counts on USD/CAD. It seems to be perking up now on the hourly chart.

Hi Guys,
Here is what i see on the chart.
Decline below 1.4815 is the initial signal of completetion of wave 5!!!!!

Ed,

Originally Posted by Sean Hyman

With USD being one of the bigger % gainers on the day...and CAD being one of the % losers on the day, one might do some wave counts on USD/CAD. It seems to be perking up now on the hourly chart.

Hi Sean,
I agree with you and i think wave 5:5 is over.
And we are going to see a rally soon, now we need some kind of bullish news for USD.

Ed,

We could have already completed Wave "e" of the triangle, but I am not sure as of yet. Either way, we should be heading up in a wave 5 shortly to the target I mentioned in my previous post.