Elliott Wave Simple

[JahDave]

Hi,

but wave 4 is already done ..as marked on your charts...plus isnt wave 3 longer than wave 1 in most cases...

am just a beginner in EW ..so do bear with the questions..

The five waves labeled on the chart are not the waves I am referring to on the post. Sorry for the confusion. I am referring to wave 4 on the next larger scale. The five waves I have labeled on the chart comprise a wave 3 on the next larger scale and this demonstrates that I believe that wave 3 is probably over. The exception to this would be that this wave 3 could possibly extend, but even with that then this should still get a bounce before another move down.

 

[JahDave]

Sir,
i have few questions,
1)which timeframe u use generally?
2)how do u eliminate the false wave( actually i m asking that how do count decide that the particular wave is completed?

I start with the monthly time frame and work down to the 5 minute chart. So my progression is month, week, day, 3 hour, 1 hour and 5 minute. I actually don't know for certain when a wave count is complete until an Elliott Wave rule has been violated. It is impossible for anyone to know with 100% certainty what the markets will do exactly. I make my analysis and trade from that.

 

[4xpipcounter]

Dave, I never asked you this, but as an EW'er, do you view market action in terms of waves only? In other words, I see the markets move within a trend, and then a correction within the trend.
So, you might view the b movement the same way I would a correction within a new trend.

 

[JahDave]

Dave, I never asked you this, but as an EW'er, do you view market action in terms of waves only? In other words, I see the markets move within a trend, and then a correction within the trend.
So, you might view the b movement the same way I would a correction within a new trend.

That is actually exactly how it works.

 

[JahDave]

Dave, we've been having extensive conversations on the EUR/USD.
Can I get your view please?

Also, I was talking to another EW chartist the other day about the USD/CHF, and his view was circa .9200 contains before another lower low. He blew my mind, and I don't agree with that view, but maybe I could also hear your input on that.

I will post up a few Euro charts here. I have the Euro charted in a multi-year leading diagonal to the downside. I think the Euro will be going up for the next week or so and then have one more drop to about 1.30 or a little lower. After that the next move I think will be up to the 1.4500 area.

 

[mubzaveri]

next wave of selling may start in GBP/USD,
AUD/USD also looking good,
what do u think kindly share ur views............

 

[4xpipcounter]

Amazing! In times past, we have talked a lot about how our levels coincide so much. Remember when the EUR/USD was around 1.2300 and both of us were saying it is headed to 1.3800+ (I remember my specific level was 1.3838.)? We got posts of consternation. I even had people asking me if I meant 1.2838.
Any rate, I've been talking about circa 1.3950 being revisited, and if the move is strong enough, we could head north as far as 1.4500. I'm still not quite as confident of the latter as you are.

I will post up a few Euro charts here. I have the Euro charted in a multi-year leading diagonal to the downside. I think the Euro will be going up for the next week or so and then have one more drop to about 1.30 or a little lower. After that the next move I think will be up to the 1.4500 area.

 

[hills_5000]

Just posted in your thread...Paul...seeing this reply makes me think I have done the right thing by going long!!

Hi J !.. You will have to start off with some more EW basics ..bringing out the basics with examples as you see them.... BTW that it is a request... there will be lot more participation and learning that way...

thanks..

Amazing! In times past, we have talked a lot about how our levels coincide so much. Remember when the EUR/USD was around 1.2300 and both of us were saying it is headed to 1.3800+ (I remember my specific level was 1.3838.)? We got posts of consternation. I even had people asking me if I meant 1.2838.
Any rate, I've been talking about circa 1.3950 being revisited, and if the move is strong enough, we could head north as far as 1.4500. I'm still not quite as confident of the latter as you are.

 

[mubzaveri]

Hi J !.. You will have to start off with some more EW basics ..bringing out the basics with examples as you see them.... BTW that it is a request... there will be lot more participation and learning that way...

thanks..

me too waiting eagerly to learn Elliot Wave practicle implication.......:clap:

 

[JahDave]

Re: Web design sydney, web design melbourne

It is very good as a long term indicator..

This is what I have said all along about Elliott Wave Theory............It is very good as a long term indicator, but it is not good as a trading system............... I know that the DOW has to go below the 6500 level to meet the requirements of Elliott Wave Theory..............I also know that based on Fibbonacci levels that the dow will probably go to the 3400 area, so the long term trend right now is down................Right now we have a wave 2 going up which is normally a deep retracement, but htere will be no new high for the dow..................