Thread: Elliott Wave Trading Discussion

Originally Posted by forex friend

Hey Brad

good call, we have had a bounce from the 9030 level and now above the 9060 level that i keep taking about , currently attacking 9100 again.



JJ

Hi forex friend.. Ya I see EUR/GBP attacking .9100 again... I am short from .9125 with a stop at break even so I am not worried about anything.... I think ther's a big bear move hiding in this pair somewhere, I will continue to wait for it to show up and keep shorting the rallies..

I'm looking to short the USD/CAD Market again following any rally to the upper bollinger band on the daily chart.... This play already worked nicely for me several times -- Might as well try to milk it for some more

USD/CAD Daily Chart ---->

Originally Posted by marketwavez2

Patience -----Dave618
there are always many counts occurring at the same time

So just so choose one the that you like ,,, and stick with it

it also helps to study candlestick formations to
help identify potential turning points in the markets

all this takes practice, practice, practice

give your self 2 years or more of posting charts
and you will only get better .........over time

Thanks for the encouragement, marketwavez. I've been exploring EW analysis for about a month, and I'm hooked. I just bought Robert Miner's Dynamic Trading last week, and downloaded Robert Balan's book on Tuesday. I bought Prechter's EW Principle last summer.

Miner is dismissive of corrective wave counts that extend beyond simple A-B-C's, preferring instead to wait for more obvious set-ups for trading. But I notice you (and many of the others here) are deep into WXY and Z waves, etc. Can you recommend other resources (free, for now) that go into more depth on these other patterns?

For now, I know I need to just focus on the basics (I get confused just counting to 8 sometimes!), but I'm eager to acquire as many resources as I can.

Thanks.

Originally Posted by Dave618

Thanks for the encouragement, marketwavez. I've been exploring EW analysis for about a month, and I'm hooked. I just bought Robert Miner's Dynamic Trading last week, and downloaded Robert Balan's book on Tuesday. I bought Prechter's EW Principle last summer.

Miner is dismissive of corrective wave counts that extend beyond simple A-B-C's, preferring instead to wait for more obvious set-ups for trading. But I notice you (and many of the others here) are deep into WXY and Z waves, etc. Can you recommend other resources (free, for now) that go into more depth on these other patterns?

For now, I know I need to just focus on the basics (I get confused just counting to 8 sometimes!), but I'm eager to acquire as many resources as I can.

Thanks.

Dave618
you have 3 books ----- it is enough for now

don't worry about other Elliott Wave books ,
( there is much to learn in those books you already have )

let some time go by , ,,,,, say 8 months to a year min,,,,,

and just study those books you already have ,

otherwise you will go into what's called information overload

.......................................................... .................................

what's more important now is to post your charts
and come back and post your result chart

try to post 10 charts or more every week , any market you want

and be honest with your self by comming back and posting the result chart
of what ever happens Good , bad or Ugly

then on the week-ends , go back and study your own charts

Eventually,
studying your own charts will be your best teacher , ever !

-------------------------------- --------------------------- ----------------- ----------

Dave618
Here's how you can see all of your own charts

Here's how to see all of your own charts

So you can go back and study them on the weekends ,


Follow these steps -----
/////////////////////////////////////////////////////////////

Step1 ......click on Your Name in any post

Step2........Click on " User Control Panel "
................( upper Left side of your screen ) orange color

Step3 ......Look for " attachments " ( lower left hand side of page )
........................and left click on the word " attachments "


Step4 ..... Scroll down to bottom right hand side of the page
................ click on box that says " show thumbnails "
------------------------------------------------------------------ -------------------------

Step5 ...... Your'e Done , ..... Be Happy !....


-------------------------------------------------------------- ---------------------------

Hey guys,

Yesterday I posted a simple observation on the cable.
Today that is confirmed.
Looking for a wave 2 retrace to go short...(50-61.8% is good target area).

EDIT, which means 6650 area to enter short, target below 6200. Stop above recent high.
This is not trading advise!

How does this look
possible double zigzag ?

I registered today. I see i can reply to member posts. How can i post like a member ?

Originally Posted by Mywavez

Hey guys,

Yesterday I posted a simple observation on the cable.
Today that is confirmed.
Looking for a wave 2 retrace to go short...(50-61.8% is good target area).

EDIT, which means 6650 area to enter short, target below 6200. Stop above recent high.
This is not trading advise!

Great call.

Originally Posted by geezer

How does this look
possible double zigzag ?

Hey Geezer,

Welcome, and great count!

Originally Posted by geezer

I registered today. I see i can reply to member posts. How can i post like a member ?

Originally Posted by AyoBro

OK, I need help posting a chart. Keep in mind I have a mac.

How to Attach a Chart .......

( Print out a copy of this message and follow along )

Step 1 Save your chart to your computer and give your chart a file name


Step 2 Save your chart as a jpeg image or giff image
( this is very important ! )

Step 3 Save your chart to your computer 's Desktop

Step 4 Go to DailyFx page where you you want to post your message

Step 5 click the words "Post Reply" ( Light Blue color box) lower left hand side of page

Step 6 write your message in the blank space provided

Step 7 scroll down to where you see the words " Manage Attachments"

Step 8 Click on the words " Manage Attachments "( Grey color box )

step 9 You should now see 1 seperate boxe saying " Browse "

step 10 click on the boxe that says " Browse "

step 11 now use the drop down box that appears to go to
" My Desktop"-
this is where you put your saved chart - Remember ?

Step12 find your chart by the name the tiltle you gave it

step 13 click on your chart by that name that you gave it

step 14 click on the word "Upload " ( Grey color box )


Step 15 Do this again if you want to add a second or third chart.

Step 16 .....Click the words " Close Window "

Step 17 .... Check your messege for mispelled words

Step 18 .....Click where you see " Submit Reply "

Step 19 ..... You are done !

Originally Posted by aerocom

I guess we are all watching the wedge. I believe it is a high probability and I shorted already as wave 5 cannot be longer than wave 3 or stated according to Elliott, wave 3 cannot be the shortest wave. I have a target high of 1.5178.

Will add on reversal.

Good Luck.

Her is another probable outcome for the Eur$ wedge. The same thing appears to be playing out in the $CHF only reverse. I expect sharp moves in both when the wedge completes.

Good Luck

the usd index rally looks impulsive but the usdchf rally and eurusd decline are suspect. the usd index also shows a clear 3 wave setback but the rally since (circled) is not clear. to me, the dominant pattern is the 5 up and 3 down...which is bullish...translating that into pairs - the usdjpy and usdcad look most contructive (to me). the decline from 16720 in the gpbusd is promising but that leg could be wave c of a flat-keep that in mind.

Originally Posted by geezer

I registered today. I see i can reply to member posts. How can i post like a member ?

geezer, great to have you posting here with us.

Welcome to the trading community.

Originally Posted by Jamie Saettele

the usd index rally looks impulsive but the usdchf rally and eurusd decline are suspect. the usd index also shows a clear 3 wave setback but the rally since (circled) is not clear. to me, the dominant pattern is the 5 up and 3 down...which is bullish...translating that into pairs - the usdjpy and usdcad look most contructive (to me). the decline from 16720 in the gpbusd is promising but that leg could be wave c of a flat-keep that in mind.

I believe there is still more downside yet...........