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Thread: Elliott Wave Trading Discussion

  1. #42391
    10frank01 is offline Gold Member
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    @freelancer

    Quote Originally Posted by freelancer View Post
    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!

  2. #42392
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    Quote Originally Posted by 10frank01 View Post
    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?

    Last edited by skinnypuppy; 02-26-2011 at 01:46 PM.

  3. #42393
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    brent weekly here:

    expanding diagonal of many 3 waves as the V.

    feedback is much appreciated.


  4. #42394
    10frank01 is offline Gold Member
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    @skinnypuppy

    [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
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-xauusd-daily-feb-26-2131-pm-1-day-.jpg  

    Last edited by 10frank01; 02-26-2011 at 04:23 PM.
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  5. #42395
    skinnypuppy's Avatar
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    Quote Originally Posted by 10frank01 View Post

    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,

    Last edited by skinnypuppy; 02-26-2011 at 04:49 PM.
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  6. #42396
    10frank01 is offline Gold Member
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    @skinnypuppy

    [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
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  7. #42397
    skinnypuppy's Avatar
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    Quote Originally Posted by 10frank01 View Post
    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.

    Last edited by skinnypuppy; 02-26-2011 at 06:16 PM.
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  8. #42398
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    gbpusd H1

    just my personal view... any comments are welcomed


  9. #42399
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    GBP/USD daily bullish outlook

    Elliott Wave Trading Discussion-cable-feb-26.jpg
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  10. #42400
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    USD/CHF

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

    Watch out for long term fib support at or near .9045 --------
    รูป รูป        
    Last edited by brad_1199; 02-28-2011 at 07:11 PM.

  11. #42401
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    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?
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  12. #42402
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    EUR/USD final bear

    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.
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-20110301-eurusd-1w.jpg  

    Elliott Wave Trading Discussion-20110301-eurusd-4h.jpg  

    Elliott Wave Trading Discussion-20110301-eurusd-1d.jpg  

    Last edited by broyboy; 03-02-2011 at 12:04 AM.

  13. #42403
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    GBP/USD

    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-
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-cable-fmar-2.jpg  


  14. #42404
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    EUR/USD

    Similar to cable after completion of wave -i- expect a pullback in wave -ii-
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-euro-mar-2.jpg  


  15. #42405
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    EURUSD

    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:
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-eurusd_d_03-03-11.jpg  

    Elliott Wave Trading Discussion-eurusd_h4_03-03-11.jpg  

    Last edited by freelancer; 03-03-2011 at 12:59 PM.
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