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Thread: Elliott Wave Trading Discussion

  1. #47071
    aerocom is offline Moderator
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    Here is what I think is going n in the Swissy. The Eur$ usually moves in the inverse of this pair. The likely targets indicate the likely hood of a B wave underway. The Gbp$ should under perform.

    Good Luck.
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  2. #47072
    sharehunter is offline Registered User
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    Hi All,

    I have read “Elliott Wave Principle - Key to Market Behavior” book and feel it is interest so I want to apply it to my real trading.

    When I start to apply this theory I am in a big problem that I don’t know where I should start count wave. For example:
    If the chart like bellow, I find that this chart is have 5 wave so I think that it is intermediate impulse wave and label as


    But later when HNX continue to decline so much so that advance isn’t actionary and it is reactionary


    Please kindly guide me how to select the first point to count Elliott wave.

    By the wave, please kindly do example for both stock index bellow ( I upload monthly, weekly and daily).

    Many many thanks for your helps

    HNX monthy (this index is available for more than 6 year)


    HNX weekly


    HNX daily


    VNI monthy


    VNI weekly


    VNI daily
    Last edited by sharehunter; 11-23-2012 at 11:28 PM.

  3. #47073
    aerocom is offline Moderator
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    Quote Originally Posted by sharehunter View Post
    Hi All,

    I have read “Elliott Wave Principle - Key to Market Behavior” book and feel it is interest so I want to apply it to my real trading.

    When I start to apply this theory I am in a big problem that I don’t know where I should start count wave. For example:
    If the chart like bellow, I find that this chart is have 5 wave so I think that it is intermediate impulse wave and label as


    But later when HNX continue to decline so much so that advance isn’t actionary and it is reactionary


    Please kindly guide me how to select the first point to count Elliott wave.

    By the wave, please kindly do example for both stock index bellow ( I upload monthly, weekly and daily).

    Many many thanks for your helps

    HNX monthy (this index is available for more than 6 year)


    HNX weekly


    HNX daily


    VNI monthy


    VNI weekly


    VNI daily
    sharehunter;

    It's a great question. You should start from an important high or low. I usually use a monthly or weekly chart to get a fix on what the count should be. Looking at your monthly chart, I count a clear 5 waves down with no overlap. It is quite possible that the 5th wave is not complete. Therefore, I would then use a lower time frame chart (daily, 4hr hourly and 15min) to determine the level of completion of the 5th wave.Hope this helps.


    Good Luck.

  4. #47074
    sharehunter is offline Registered User
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    Quote Originally Posted by aerocom View Post
    sharehunter;

    It's a great question. You should start from an important high or low. I usually use a monthly or weekly chart to get a fix on what the count should be. Looking at your monthly chart, I count a clear 5 waves down with no overlap. It is quite possible that the 5th wave is not complete. Therefore, I would then use a lower time frame chart (daily, 4hr hourly and 15min) to determine the level of completion of the 5th wave.Hope this helps.


    Good Luck.
    Thanks for your answer. I am really an beginner in Elliott application and I still feel confused a lot. Could you please helps me label some chart I upload in previous post as example

    Many many thanks for your helps

  5. #47075
    2_bits is offline Member
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    Quote Originally Posted by sharehunter View Post
    Thanks for your answer. I am really an beginner in Elliott application and I still feel confused a lot. Could you please helps me label some chart I upload in previous post as example

    Many many thanks for your helps
    Here's one possible count on the daily chart. Note that I agree that black wave [4] looks like an impulse from the chart that you provided; however, according to the count I supplied it should be counted as a correction if you are strictly following the rules supplied by “Elliott Wave Principle - Key to Market Behavior”. If you are convinced that it is an impulse then you should try to find an alternative count. Perhaps it is the "c" wave of a flat? Hope this helps.

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  6. #47076
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    USD/JPY

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    The move from 9/13/2012 looks impulsive. Currently in wave V of 3. The dark blue channel is the Base Channel from the waves I and II extremes. Jeffrey Kennedy from Elliot Wave Junctures explains this technique on EWI. The yellow channel is a base channel for sub-waves i and ii of wave III. IF wave v of III is over, (and that's not clear yet; wave v of three could become an extended fifth) then, look for support near the blue baseline channel, down by the prior previous fourth wave at 80.50.

    I am looking short term for a pullback. The doji and hammer candles suggest exhaustion...I will be on the sidelines on this security until price confirms either a fifth wave extension, or a wave four correction. I've already discussed the wave four correction. If wave five of three extends, then the move from 14 Nov- 22 Nov would be (i) of (v) of III.

  7. #47077
    sharehunter is offline Registered User
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    Quote Originally Posted by 2_bits View Post
    Here's one possible count on the daily chart. Note that I agree that black wave [4] looks like an impulse from the chart that you provided; however, according to the count I supplied it should be counted as a correction if you are strictly following the rules supplied by “Elliott Wave Principle - Key to Market Behavior”. If you are convinced that it is an impulse then you should try to find an alternative count. Perhaps it is the "c" wave of a flat? Hope this helps.

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    Thanks 2_Bits,

    I got your point, may HNX in the way of wave [5], because wave 3 is extension wave so wave [5] may be equal to wave [1] in log mode

    by the way, it is in downtrend, you count it in 5 wave so it is motivate wave. so could you please label in higher degree (monthy or weekly chart) to help me know this motive wave belong to which corrective wave

    Many many thanks for your helps

  8. #47078
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    $EURUSD Elliott Wave Counts For Weekly, Daily, and 4-Hour Charts Pointing North

    $EURUSD Elliott Wave Counts For Weekly, Daily, and 4-Hour Charts Pointing North
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  9. #47079
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    $GBPUSD Weekly, Daily and 4-Hour Elliott Wave Counts Point to Higher Levels

    $GBPUSD Weekly, Daily and 4-Hour Elliott Wave Counts Point to Higher Levels
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  10. #47080
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    $EURJPY Weekly, Daily, and 4-Hour Chart Elliott Wave Counts Point Higher

    $EURJPY Weekly, Daily, and 4-Hour Chart Elliott Wave Counts Point Higher
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  11. #47081
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    $AUDUSD Weekly, Daily, and 4-Hour Elliott Wave Counts

    $AUDUSD Weekly, Daily, and 4-Hour Elliott Wave Counts
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  12. #47082
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    EUR/USD..........one way of looking at it.
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  13. #47083
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    Question, EW guys: can we have a wave 2 retracing 100% of wave 1? is it allowed, or it can only be 99% ret at max?

    Thanks
    Trade Safe

  14. #47084
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    Quote Originally Posted by fxaprendiz View Post
    Question, EW guys: can we have a wave 2 retracing 100% of wave 1? is it allowed, or it can only be 99% ret at max?

    Thanks
    Wave 2 can not go beyond the start of wave one is how it is presented which allows for the start of wave 1 to be equal to the end of the wave 2 correction. So 100% is allowable.
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  15. #47085
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    Quote Originally Posted by captester View Post
    Wave 2 can not go beyond the start of wave one is how it is presented which allows for the start of wave 1 to be equal to the end of the wave 2 correction. So 100% is allowable.
    Thanks captester! Clear as crystal now
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