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Thread: Elliott Wave Trading Discussion

  1. #1
    Kate Stewart is offline Registered User
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    Elliott Wave Trading Discussion

    Hi Everyone,

    This thread is specifically geared towards the discussion of Elliot Wave theory and the FX Market. Please feel free to discuss any experiences or questions that you may have that are related to this trading style.

    Happy Trading

    Kate

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  2. #2
    Jamie Saettele is offline Moderator
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    Welcome to the Elliott Wave section of the forum. If you are interested in Elliott wave analysis, then I highly recommend that you read The Elliott Wave Principle (Frost and Prechter). In this section, we will examine wave counts and potential trading opportunities indicated by wave counts. I present EW trading opportunities on dailyfx + under headlines.

  3. #3
    serhito is offline Member
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    Hi,
    I just discovered this section of the forum, and i am really excited to have a place where to discuss elliott wave principles. I am fairly new to it, still in the process of learning.

    I have attached a chart of the USD index. I think that the counting on the upwave 1,2,3,4,5 makes sense, but i am having a hard time with the wave count on the correction. Any help would be appreciated.

    (sorry the chart looks a little big)

    Thanks.
    Serge
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  4. #4
    Jamie Saettele is offline Moderator
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    Quote Originally Posted by serhito
    Hi,
    I just discovered this section of the forum, and i am really excited to have a place where to discuss elliott wave principles. I am fairly new to it, still in the process of learning.

    I have attached a chart of the USD index. I think that the counting on the upwave 1,2,3,4,5 makes sense, but i am having a hard time with the wave count on the correction. Any help would be appreciated.

    (sorry the chart looks a little big)

    Thanks.
    Serge
    Serge, you are correct that the rally from the late 2004 bottom is a 5 wave impulse. The decline that has followed looks like a double zigzag (two zigzags connected by an X wave). The entire decline is labeled W-X-Y.
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  5. #5
    serhito is offline Member
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    Jamie,

    Thank you so much.

    Could you explain the A and B you have on there ?
    Does it mean that :
    1) we are in a big correction (5-3-5) which has the first 12345 sequence as the first leg A ?
    2) the second leg B (3 waves) is the double zigzag ?
    3) we are now looking for a 5 wave sequence to the upside (C) ?

    What would be the target for that last leg (C) ? How do you establish that ?
    What would invalidate that scenario ?

    but most important... what were the clues that you saw to come up with this scenario ? it sounds like a good one, but i would have never seen it.

    Thank you so much for your input.

    Serge

  6. #6
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    durgesh147 is offline Member
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    AUDNZD

    Here is a trade setup on AUDNZD pair...
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  7. #7
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    EURUSD

    It looks to be headed lower..
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  8. #8
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    AUDUSD

    Not all is lost for Aussie....
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  9. #9
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    USDSEK

    It looks like making a double zigzag
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  10. #10
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    AUDUSD

    Setting up for a brief rally...
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  11. #11
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    Exclamation EURGBP

    Shaping up from a sharp move down ...
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  12. #12
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    AUDNZD

    Setting up for upmove...
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  13. #13
    Jamie Saettele is offline Moderator
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    Quote Originally Posted by serhito
    Jamie,

    Thank you so much.

    Could you explain the A and B you have on there ?
    Does it mean that :
    1) we are in a big correction (5-3-5) which has the first 12345 sequence as the first leg A ?
    2) the second leg B (3 waves) is the double zigzag ?
    3) we are now looking for a 5 wave sequence to the upside (C) ?

    What would be the target for that last leg (C) ? How do you establish that ?
    What would invalidate that scenario ?

    but most important... what were the clues that you saw to come up with this scenario ? it sounds like a good one, but i would have never seen it.

    Thank you so much for your input.

    Serge
    The A and B are the first two waves of a large correction that began in December 2004. We are looking for the C wave to unfold in 5 waves now. This is one count that fits all of the rules of Elliott. Most importantly, the USD rally in 2005 is impulsive and the decline since has been corrective (overlapping).

  14. #14
    serhito is offline Member
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    Quote Originally Posted by Jamie Saettele
    The A and B are the first two waves of a large correction that began in December 2004. We are looking for the C wave to unfold in 5 waves now. This is one count that fits all of the rules of Elliott. Most importantly, the USD rally in 2005 is impulsive and the decline since has been corrective (overlapping).
    Hi Jamie,

    Do you see any other potential scenarios ?
    What would invalidate this theory ? I am just trying to learn what i should be looking for to know when i am wrong, when making my own decision in the future.

    Thanks a lot.

    Serge

    I was a the expo on saturday. I took the advanced fibonnacci but i regret i did not come for your presentation. I was affraid it was going to be too basic since it said it was for beginner. Maybe i should have. Sorry. Any chance to get your slide presentation, if you had one ? Thanks.
    Last edited by serhito; 05-22-2007 at 10:53 AM.

  15. #15
    serhito is offline Member
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    When you look at these carry trade pairing charts such as EURJPY, EURCHF, etc.., can you find any fibonnacci there ? It looks like it's never going to stop.

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