Thread: Elliot Wave Analysis

Originally Posted by ;

Yo dude Shows your 10k account gone nearly 2.5k

yes .... That is what happens when I go forward and be overconfident with my trades... but it's a demo you can just do those things in a demo. Anyway I lost between 6 and 7 percent in my live account too in the last month. Need to recover all of that lol

Hello Sting,
Last week it was bad. Matters did not happen as per our expectations. Yes, that's forex market. We would have been very wealthy by now if everything happened as per our wish. Let us keep our experimentation. I would appreciate if you please update your own charts for major ccy pairs including GBPNZD.
Thanks,

Originally Posted by ;

Hello Sting, Last week it was bad. Matters did not occur as our expectations. Yes, that's forex market. If everything happened according to our wish, we'd have been wealthy by now. Anyway, let us continue our experiment. I would love if you please upgrade your charts for major ccy pairs including GBPNZD. Thanks,

Hi Mav,
I am a complete time trader, so there is a possibility I can go missing occasionally as my job needs it but I haven't given up on EW. I think that it is one of the best tools on the market to predict the sentiment of the traders as well as predict the future prices in this vicious market. It'll be tricky to decipher every pattern unless you are currently spending the time with just 1 pair and then follow it but you overlook a lot on other instruments. It is fairly significant to notice the relative strength of these currencies to determine which ones are weak and which ones are powerful. I like to do EW of the powerful against the weak but I don't do exotic pairs as well. I just do exotic pairs whenever there is a petition. Check this link for relative performance. Https://finviz.com/forex_performance.ashx?v=3

I only check until monthly.

About the monthly of you see , CAD, GBP and NZD are quite powerfully trending upward while CHF, AUD and JPY are trending down. Now in the event that you could have taken a little position on cad/jpy or even gbp/jpy at the beginning of the month or even before that you'd have made enough cash (although not so simple like I say it). On gbp/jpy it has moved almost 900 pips into the upside and cad/jpy has moved approximately 550 pips (even grabbing it early is tough). However, if EW is drawn on pairs like these there is a lot of scope.

In your case you seem to be interested in GBP/NZD as it is one of the very volatile pairs however on relative strength both the currencies are going up strongly, so it's not a positive choice to trade at the present time there'll be a lot of whipsaws as a proper trend cannot be established. I hope you understand what I am attempting to communie.

Assess the weekly operation as well in the picture.

Originally Posted by ;

quote Hi Mav, I am not a full time trader, therefore there's a chance I can go lost sometimes as my work needs it but I have not given up on EW. I think that it is among the best tools out there to forecast the sentiment of the traders in addition to forecast the future prices in this vicious market. It'll be tricky to decipher every pattern unless you're spending the time with only 1 pair and then follow it but then you miss out a lot on other devices. It is quite important to notice the relative strength of these currencies to...

Hello Sting, thanks to the explanations.
Regards,

EURUSD 1H

GBPUSD 1H

M shaheen, fine charts... and very good probability of reaching goals as index is bearish. Keep posting.

short term eurusd.

Bullish is my own view. 1st wave being performed. 2nd wave finished, today wave in progress.

Same bullish situation for wave 3 of 5 in gbpusd too. .

In my opinion, US index in wave 3 . I am not certain what fundamental news will take this down to the amounts mentioned in this chart but I am going to it. Putting a moderate term stop reduction of 89.66 . Here is my chart....