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Thread: Elliott Wave Trading Discussion

  1. #44986
    aerocom is offline Moderator
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    Quote Originally Posted by schmittstroem View Post
    Thanks for the input!
    In this context, the movement makes sense.
    I thougt, only an ending diagonal is a 3-3-3-3-3 affair and a leading diagonal a 5-3-5-3-5 movement?
    Here is what Prechter and company published in their online education. 'When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5, or 5-3-5-3-5 pattern. The structure of this formation (see Figure 10) does fit the spirit of the Wave Principle in that the five-wave subdivisions in the direction of the larger trend communicate a "continuation" message as opposed to the "termination" implication of the three-wave subdivisions in the ending diagonal. This pattern must be noted because the analyst could mistake it for a far more common development, a series of first and second waves, as illustrated in Figure 5.'

    Good Luck.

  2. #44987
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    USDCAD

    USDCAD is moving down. The portion that i circle is not look like impulse. That is W Y Z. More ABC inside. EURUSD out of bear rythmn. Jump into bull rythmn.

  3. #44988
    stanchiam is offline Banned
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    Quote Originally Posted by JoeyLee View Post
    USDCAD is moving down. The portion that i circle is not look like impulse. That is W Y Z. More ABC inside. EURUSD out of bear rythmn. Jump into bull rythmn.
    "EURUSD out of bear rythmn. Jump into bull rythmn"
    agree and disagree
    short term corrective bull yes, bull no
    show us your bull count
    Last edited by stanchiam; 04-16-2012 at 10:05 PM.

  4. #44989
    stanchiam is offline Banned
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    short term bear for us dollar, enjoy while it last
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  5. #44990
    aerocom is offline Moderator
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    Quote Originally Posted by stanchiam View Post
    short term bear for us dollar, enjoy while it last
    I agree with your assessment. But, your count has a wave 2 that retraces wave 1 by 97% (deep), and a wave 4 that retraces the entire move up by more than 61%. Are you ok with that? could it be a 1-2 i-ii?

    Good Luck.

  6. #44991
    2_bits is offline Member
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    EURUSD COUNT UPDATE

    Lot's of possibilities. Here's my preferred count at this point.


  7. #44992
    stanchiam is offline Banned
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    Quote Originally Posted by aerocom View Post
    I agree with your assessment. But, your count has a wave 2 that retraces wave 1 by 97% (deep), and a wave 4 that retraces the entire move up by more than 61%. Are you ok with that? could it be a 1-2 i-ii?

    Good Luck.
    crap, forgotten about 1212 possibility but i will stick to my count
    anyway, staggered entry, booster loaded, houston ready on launch pad
    Last edited by stanchiam; 04-17-2012 at 12:02 AM.

  8. #44993
    Easy Trader is offline Member
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    Cool Hm ...

    Quote Originally Posted by stanchiam View Post
    short term bear for us dollar, enjoy while it last
    USDCHF daily: did we correct that 5w move up yet ... w2 = a-b-c ... a little up and a LITTLE down ?
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    Last edited by Easy Trader; 04-16-2012 at 11:53 PM.

  9. #44994
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    EURUSD

    Moving Up.

  10. #44995
    stanchiam is offline Banned
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    Quote Originally Posted by stanchiam View Post


    eu, timewise, still incomplete
    soon...
    good luck my bros here
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    Last edited by stanchiam; 04-17-2012 at 04:35 AM.

  11. #44996
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    Good Morning

    Quote Originally Posted by stanchiam View Post
    eu, timewise, still incomplete
    soon...
    good luck my bros here
    Hello Stan.

    So when above 1.3211, lets say 1.3213 would it become Expanded Flat for Wave B or Wave# 2.

    I am positive there will be those thoughts.

  12. #44997
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    Quote Originally Posted by RAZA View Post
    Hello Stan.

    So when above 1.3211, lets say 1.3213 would it become Expanded Flat for Wave B or Wave# 2.

    I am positive there will be those thoughts.
    yes EF will be another possibility if it go above
    the trend is your friend, bull trend? afraid not...

  13. #44998
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    USD/CAD Top down analysis

    Visible bellow are my weekly chart counts on the USD/CAD both are bullish due to the 5 wave advance seen beginning on AUG of last year.





    As seems evident on the chart above, we have a complete double zigzag correction to the downside, I say complete due to the 5 wave rally seen on the USD accross the board in 2011, followed by what seems to be a 'clearly' corrective set back, One of the low probability bearish alternates would be that we are forming a triangle X wave (wave (1) being a corrective wave A and (2) wave B) and we'll eventually break out and decline in a wave Z zigzag, Looking at all the markets across the board there seems to be very little reason to even hold such a count as an alternate. Lets take a look at shorter counts on this currency pair.



    As visible above I am counting the advance from aug 2011 as an impulse with an extended first wave. Extended first waves are only expected to form 5 % of the time in impule waves however the odds of a first wave extention increases if the wave being analyzed in itself is a first wave due to the guideline that states that the extention in an impulse is usually the same number as its parent wave. Notice that we formed a triangle wave B (nicely confirmed by the oscillator) which signals that the move that followed (wave C) is the last move of the triangle's degree and the upcoming bounce will be at least of the same degree as the entire decline from the wave (1) peak. Also notice that we made it right into the second wave zone of smaller degree. Which is what you'd expect after a first wave extention and especially if the decline post the impulse that sported an extended first is a second wave which it is. Also notice that we declined right into the 61.8% fib of the 1st wave advance which is also a typicall target for second waves.



    This hourly chart supports the idea that we are still in the second wave post the diagonal triangle that occured after this pair put in its wave (2) low as visible on the charts above. This count suggests a decline bellow 0.99 before exploding higher, Alternate count on this hourly is that the wave ii post the diagonal is complete. no shorts would be advised as the declines will prove corrective relative to the diagonal post the wave (2) low hence longs would be savvier if prices break the 0.99 handle with a stop bellow the diagonal low.

    Regards,
    Ahmed Farghaly

    Competent Trades
    Last edited by Traderfringez; 04-17-2012 at 07:03 AM.
    aerocom and captester like this.

  14. #44999
    stanchiam is offline Banned
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    GBP dead or alive

    Quote Originally Posted by stanchiam View Post
    similar story again
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  15. #45000
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    EURUSD D1 - 17 April 2012

    Do you think is possible ? I overwrite my previous thought.

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