Thread: Elliot Wave Analysis

This is my daily chart on eur/usd. I am hoping the 5th wave has already completed and the major decline for wave 2 has begun. We do not know what kind of pattern it'll take at the moment. As it grows, we'll see. 2nd wave is expected to be completed by 50 percent of this move but it could go all of the way to almost 100% too. Time will tell us that but for the time being, lets try to digest what's on the table (if the count is correct).

I've opened a demo trade explorer along with this particular thread.

Good morning...

This could be my hourly count for eur/usd if correct, the film depicts where I am anticipating euro to go this week. Wait to finish to take a very low risk trade to get wave 3. Place over the onset of the 1st wave.

Hi Stringfx, Thank you for starting this thread, I'm interested to find out about Elliot. Seeing interest.

Originally Posted by ;

This is my daily chart on eur/usd. I hope the 5th wave has completed and the major decline for wave 2 has started. We don't know what type of pattern it will take right now. As it develops, we will see. 2nd ve is expected to be completed by 50 percent of the move but it can go all of the way to nearly 100. Time will tell us but for now, lets attempt to digest what is on the desk (if the count is right). image

please consider this as a favorable criticism,I will also be a learner.the way you have zoomed in daily chart and how you have attracted fib is incomprehensible to me.because in accore with your analysis one wave lasts for weeks and months and we just are looking for 10-20 pips each trade.what setting are u using for fib in daily time frame,I utilize 24 and 90 for 30 min chart to have clearer and nearer future picture.

Which chart are you referring to? Can it be the daily eur/usd chart? The daily chart is, as you understand a longer time and you do not expect to create 20 pips out of it. The chart I have displayed on daily should yield almost a thousand pips (of course not in a direct line). Regarding fibs, I use the fibs on MT4. I use retracement and expansion . I don't know the fib setting that you are speaking about. If you are speaking about fib amounts, then I use 38.2,61.8, 138.2,161.8,200,261.8,300 and 361.8. When there's something new on fibs (that I do not know about), please do this. I draw fibs out of a swing and detect retracement and expansion levels.
Regarding 20 pips goes, you need to play around with 15 minute charts and loe swing high and low on these. I use a minimum 1 hour chart that's why I do a daily chart to find the management and place my counts on hourly chart for 50-100 pips. Hope I made sense. If not let me know or pm me.

Originally Posted by ;

quote please consider this as a positive criticism,I am also a learner.the way you've zoomed in daily chart and the way you've attracted fib is incomprehensible to me.because according to your analysis one tide lasts for weeks and months and we just are looking for 10-20 pips each trade.what setting are using for fib in daily time period,I utilize 24 and 90 for 30 min chart to have clearer and nearer future image.

Can you please post a chart along with your fibs on it?

Originally Posted by ;

Hi Stringfx, Thank you for starting this thread, I'm interested to find out about Elliot. Watching with interest.

You are welcome ! I'm confident that you will not be let down.

GBP/USD

Originally Posted by ;

GBP/USD picture

Good chart friend for the 4 hr. Hoping to get a short.
I am not confident of my count on GU that is the reason why I have not posted it yet. Waiting for some more confirmation.

Thank you to this chart.