Thread: Elliott Wave Trading Discussion

i have one question please

when the trend is up the first wave is up, the second is down, the third is up, the fourth is down, the fifth is up after you have the correction wave of the trend with wave A down, wave B up, wave C down.

but after you have a new wave one, and this wave is up or down ?

can you give me an answer please

thanks

stanchiam .. you rock!!... haha

target is a target... agreed ...

Originally Posted by ristong

i have one question please

when the trend is up the first wave is up, the second is down, the third is up, the fourth is down, the fifth is up after you have the correction wave of the trend with wave A down, wave B up, wave C down.

but after you have a new wave one, and this wave is up or down ?

can you give me an answer please

thanks

Yes. When the trend is up you have a 5 wave sequence in the direction of the trend and a counter trend move of 3 waves. This pattern repeats until 3 motive waves in the direction of the trend up have completed. Each of the motive waves unfold as 5 and are counted starting from one (i-ii-iii-iv-v-1-a-b-c-2-i-ii-iii-iv-v-3 ...5.

Hope this helps.

Good Luck.

Originally Posted by oisin1

Can anyone recommend a program that automatically adds EW counts to charts, my counting leaves lot to be desired but I would like to compliment my strategy with EW counts

Yes. Elwave by Prognosis Software is pretty good and used by some who posts here. Another you might consider is Refined Elliott Trader. You can probably get a copy of RET End of Day yahoo data version for free. However, I think you have to be an experienced waver to find the correct wave in all the probable counts they provide.

Hope this helps.

Good Luck.

Originally Posted by stanchiam

hello ewavers,

i have posted for a while and this journey has polished me from a stone into a diamond
its time for me to take a longer break
the special one might be back again after this break
until then good luck to all bros and many many lucky guesses for me
if u believe its just lucky guess for me....lol
cheers

Good bye sir - enjoy your break

Hello

I am trying to find any Elliotticians that have already taken this course, is there any in this forum?

I want some info on what i can expect on the exams, i dont want to pay $1500+ ( i dont live in the US so would have the travel) if its no benefit, i simply was thinking about using for it marketing purposes.

I have no desire to use CEWA after my name, but it seems we live in a world where paper names matter more than "real life experience". The only accreditation for this industry is from EWI

The Elliott Wave book guys appear to have more credit than real life experienced Elliotticians, no matter how many years you have applied it, no matter how many 1000s hrs sat watching waves on a screen

The guys with a badge appear to have more credit, crazy world!

So if anyone has done this course can they please let me know what you thought of it, then i will see if its worth spending $1500+

Thanks

Nouf

Here is my weekend long term thinking in regard to audusd. I compared this chart to my view on Gold and expect the correlation to continue. In this case, audusd is in a diagonal potentially a leading diagonal that will ultimately conclude when price enters the 1.2300 area (1.2307.)

This estimate is based on the following assumptions;
the audusd is trading down in a zig-zag in conjunction with gold. price has completed wave A and possibly wave B with last weeks move being wave i of C.

wave C will end in a 200 point range with the likely target C=A at .9162. From this low price will trade up in wave 5 not to exceed 62% (.618) of wave 3. Price could go higher but price will not exceed 1.40.

Gold is trading down in a zig-zag to 1402 the up in wave 5 to exceed $2500 but probably not $2650.

Good Luck.

hi Aero

I asked Stan about time cycle but he answered as usually

What I mean: NZD and Aussie finished in lows 3 monts cycle. Till now we have almost 3weeks of correction - so I think that it's only (w).

The daily chart of GBP/JPY points to losses....

Originally Posted by szaman1977

hi Aero

I asked Stan about time cycle but he answered as usually

What I mean: NZD and Aussie finished in lows 3 monts cycle. Till now we have almost 3weeks of correction - so I think that it's only (w).

If you are saying the b of C is probably not complete, I agree with you. One of the things Ian pointed out in his book, that has been a good guideline as it occurs more often than not, is that corrective b waves go back into the previous b wave. In this case wave b should trade into the area of the b wave of wave a. That has not occurred. Since the move down was a 5 in both pairs, I am expecting a flat to complete before the next move down.

I think we are off a little a bit on the cycle but, not that much. I have a 116 day cycle in the Audusd low to low. In my analysis, the next low here is due on Aug 1. I have not done short term cycle analysis and will reevaluate my 116 day cycle.

Good Luck.

Originally Posted by aerocom

If you are saying the b of C is probably not complete, I agree with you. One of the things Ian pointed out in his book, that has been a good guideline as it occurs more often than not, is that corrective b waves go back into the previous b wave. In this case wave b should trade into the area of the b wave of wave a. That has not occurred. Since the move down was a 5 in both pairs, I am expecting a flat to complete before the next move down.

I think we are off a little a bit on the cycle but, not that much. I have a 116 day cycle in the Audusd low to low. In my analysis, the next low here is due on Aug 1. I have not done short term cycle analysis and will reevaluate my 116 day cycle.

Good Luck.

Here is the chart of what I expect to occur. Price should possibly trade back into the 50 to 61.8% range 1.0100 to 1.0129

Good Luck.

This is the less widely followed EGX70, The EGX30 has bottomed in december 2011 and has not confirmed the new lows made this year by the EGX70 as expected. The Egyptian market gentlemen is setting stage for a strong rally despite the global risk off mode. The Egyptian economy is going to experience 'catch up' growth as did many of the economies in the emerging markets.


Regards,
Ahmed Farghaly

P.S. Confirmation would be a close above 440 (aggressive) A close above 530 ( conservative) on this index. Stop Bellow the low that is forming/has formed.

P.S. Confirmation would be a close above 440 (aggressive) A close above 530 ( conservative) on this index. Stop Bellow the low that is forming/has formed.

Originally Posted by Traderfringez

This is the less widely followed EGX70, The EGX30 has bottomed in december 2011 and has not confirmed the new lows made this year by the EGX70 as expected. The Egyptian market gentlemen is setting stage for a strong rally despite the global risk off mode. The Egyptian economy is going to experience 'catch up' growth as did many of the economies in the emerging markets.


Regards,
Ahmed Farghaly

P.S. Confirmation would be a close above 440 (aggressive) A close above 530 ( conservative) on this index. Stop Bellow the low that is forming/has formed.

P.S. Confirmation would be a close above 440 (aggressive) A close above 530 ( conservative) on this index. Stop Bellow the low that is forming/has formed.

Up 7 percent today! :-)

Originally Posted by Traderfringez

Up 7 percent today! :-)

Do your research guys this has potential to be huge, based on the diagonal alone we can expect prices to rally towards the 1000 handle (currently at 409) in around 10-12 months. Thats over 100 percent in a year un leveraged. I would certainly suggest that you do your homework on the Egyptian Stock market, and view and analyse what a great opportunity could potentially be setting up as presented on the previous posts. There are many signs of a supercycle low in formation.

Regards,
Ahmed Farghaly

Egyptian stock exchange site.
.:: Egyptian Exchange ::.

So I guess I'm going to be staying in more than I had anticipated which is why the blog is back!

Competent Trades

:-D