Thread: Elliott Wave Trading Discussion

Originally Posted by freelancer

Maybe I am wrong, but, leading diagonals cannot take the shape of 3-3-3-3-3. Moreover, in your count your wave 1 is abc, wave 3 is 1,2,3,4,5 - this is not allowed - you either count in 3s or in 5s - not both.
Apart from that, that whole mess looks like a bull flag.

As aerocom wrote below, a leading diagonal can be both, a 3-3-3-3-3 or a 5-3-5-3-5 (p.40 in EWP, or p.88 EWP). But still, this is not my prefered count anyway.
I do think that we are still in a upwards correction which can carry the EUR$ possibly up to 1.40 or even more. That's my take right now. Good luck!

Originally Posted by 10frank01

I agree with you than we can count a five down from the 1422 assuming that this would be the orthodox top of a ending diagonal.
But I think the top 1431 is more important and probably a the top of wave 3.
Look at the ABC correction down from there, perfect ratios besides. It could well be that we are in a fifth wave up now.
Oscillators support this... Good luck!

Gold, daily

hello there..
first post in the forum.

not exactly an expert on ew. but i was just looking for a place to discuss my gold count and i came across your post.

if you don't mind i'd like to share my views and my count and i'd be extremely happy if i could get some feedback on this count.

my problem with the count above is the (iii) i'm not very comfortable with the 7 wave structure of that wave. i can't get a proper subwave count. also the 5 of the (iii) looks like a 3 wave structure to me.

here's what i propose:

i also have a question about the part shaded in blue. how can a correction wave inside a (iii) have a 5 subwave structure?

brent weekly here:

expanding diagonal of many 3 waves as the V.

feedback is much appreciated.

[QUOTE=skinnypuppy;749890]hello there.. :)
first post in the forum.

not exactly an expert on ew. but i was just looking for a place to discuss my gold count and i came across your post.

if you don't mind i'd like to share my views and my count and i'd be extremely happy if i could get some feedback on this count.

my problem with the count above is the (iii) i'm not very comfortable with the 7 wave structure of that wave. i can't get a proper subwave count. also the 5 of the (iii) looks like a 3 wave structure to me.

here's what i propose:

i also have a question about the part shaded in blue. how can a correction wave inside a (iii) have a 5 subwave structure?


Hi there
I try to show it with the chart below, maybe it'll help you clarify tour take on your own Gold count. But some short comments to your questions:
1. "7 wave structure": Look at it as a 1-2_1-2_1-2-->extensions (see chart). Your question has drawn my attention to a more precise count, thanks!
2. "the 5 of the (iii) looks like a 3 wave structure": Same "solution" but you can count it without extension also, again observe alternation between deep wave 2 and shallow wave 4 (see chart).
3. "how can a correction wave inside a (iii) have a 5 subwave structure?": Try a double zigzag (W-X-Y). It looks very much alike... (the last wave down looks like a very short C-wave, eventually truncated, in your chart).

Good luck!

Daily Chart
Attachment 79441

Originally Posted by 10frank01

Hi there
I try to show it with the chart below, maybe it'll help you clarify tour take on your own Gold count. But some short comments to your questions:
1. "7 wave structure": Look at it as a 1-2_1-2_1-2-->extensions (see chart). Your question has drawn my attention to a more precise count, thanks!
2. "the 5 of the (iii) looks like a 3 wave structure": Same "solution" but you can count it without extension also, again observe alternation between deep wave 2 and shallow wave 4 (see chart).
3. "how can a correction wave inside a (iii) have a 5 subwave structure?": Try a double zigzag (W-X-Y). It looks very much alike... (the last wave down looks like a very short C-wave, eventually truncated, in your chart).

Good luck!

Daily Chart
Attachment 79441

hi frank,

thanks a ton for your detailed answer. i like this new count a lot. especially the 4 sitting on the 50% works really well. my count is also on a 5. how do you like the micro count here of the 5?

i'm very new to ew counting so please bear with my incessant questions!

cheers,

[QUOTE=skinnypuppy;749897]hi frank,

thanks a ton for your detailed answer. i like this new count a lot. especially the 4 sitting on the 50% works really well. my count is also on a 5. how do you like the micro count here of the 5?

i'm very new to ew counting so please bear with my incessant questions!

cheers, QUOTE]
----------------------------
You're welcome. Yes your count is very much possible, but if I understand your labeling then maybe it should be labeled like below (??). Right now it is difficult to count all the squiggles (as always). It could well be that the correction is already over, and of course a deeper correction (a wave C of a possible wave 4 yet to unfold completely) may come. I honestly don't know. Below your chart again and and a tentative count of mine ... Good luck!

Attachment 79447

Attachment 79448

Originally Posted by 10frank01

You're welcome. Yes your count is very much possible, but if I understand your labeling then maybe it should be labeled like below (??). Right now it is difficult to count all the squiggles (as always). It could well be that the correction is already over, and of course a deeper correction (a wave C of a possible wave 4 yet to unfold completely) may come. I honestly don't know. Below your chart again and and a tentative count of mine ... Good luck!

Attachment 79447

Attachment 79448

actually your micro count and mine for this last wave are 95% the same except for that 3.3.2 where i find yours much better placed. my notation is slightly unorthodox but i think it's still understandable. thanks for the relabeling tip. i relabeled

as for the is it 3.4.a or 3.4 issue here's my squiggle count on 15 min. there's a very clear 5 wave structure on the first wave. so i think we still need to see another c.

gbpusd H1

just my personal view... any comments are welcomed

GBP/USD daily bullish outlook

The USD/CHF Monthly Chart shows a possible skewed triangle taking place....

Watch out for long term fib support at or near .9045 --------

Hello Traders! I just wanted to share and highlight the short term Elliott Wave charts found within Daily FX done by our Technical Strategist, Jamie Saettele. His Elliott Wave Bias Table highlights 7 other pairs plus Oil and Gold. You may use these as a point of discussion or debate or to generate additional ideas.

Jamie writes: “The NZDUSD has traded to a fresh 2011 low but did carve out a key reversal last Wednesday. Key reversals do have a history of calling turns but the wave count is bearish with a 3rd wave possibly underway from the February high. A drop below 7342 would confirm that the NZDUSD completed wave b of a flat in late 2010 and is headed for an eventual drop below 6560. A negative 20/50 day average cross has registered and these averages are now resistance in the 7600/25 area. The former 4th wave extreme is also resistance at 7655.”

What are your thoughts? Agree? Disagree? Alternate count?

Is EUR/USD at last beginning its final bear market?

Weekly, 4h, and daily views. Lots of wood to chop yet but bullish momentum is dying fast. Three recent attempts at 1.3860 have failed.

I'm comfortable with a small position with a tight stop above March 1 high of 1.3853. Above there it could easily blow through 1.3860 and test 1.4281. Hope to build it up over the coming weeks and start taking profit around July/August.

Called the end of wave -I- a bit premature in my last post. As of now it looks it might be working on expanding triangle in wave (v) of -I-

Similar to cable after completion of wave -i- expect a pullback in wave -ii-

Guys,
fasten your seat belts - the bigger slide is beginning any time soon as the euro hit 61.8 fibo projection of the bull flag in the final E wave of a [B] wave triangle suggesting a [C] wave down: