Elliot Wave Theory

ghaze · #1 09-14-2007, 11:59 PM

Elliot wave theory is very usefull tool for predicting market movement but more complicated than any other tools theefore I create this thread for anyone who have a question about elliot wave theory...

Progrock · #2 09-15-2007, 05:53 PM

I always was under impression that Elliot Wave is better to apply to the stock market where people usually trade long, not to forex....

ghaze · #3 09-15-2007, 06:01 PM

Quote:

Originally Posted by Progrock

I always was under impression that Elliot Wave is better to apply to the stock market where people usually trade long, not to forex....

I see... thanks for your opinion Progrock is there any opinion again from the others...???

Basic law of Elliot wave there is 3 wave must going up and 2 wave going down

overtrader · #4 09-16-2007, 05:38 PM

If I`m not mistakes the waves number three is always the longest waves am I right?

ghaze · #5 09-20-2007, 05:46 AM

Quote:

Originally Posted by overtrader

If I`m not mistakes the waves number three is always the longest waves am I right?

Hmmm......
Not really I think.... by the way in some books tell wave No. 3 is the longest but in reality I see it can be No. 1 or No. 5

Like in the picture I think wave No. 3 is the shortest

MihaiFXI · #6 09-20-2007, 07:59 AM

Hi guys,

W3 cannot be the shortest one compared to W1 and W5. Therefore, if we see a situation like the one on your chart we have to look for something else, maybe an extended W3 going all the way up where you have the end of W5 now?

So, once again: W3 cannot be shorter than BOTH W1 AND W5, but can be shorter than any one of them.

It's one of the key EW RULES (those that we cannot bend). If it were a guideline, we could have pretended not to see it...

ghaze · #7 09-20-2007, 12:57 PM

Hi Mihai...

Thanks for explanation I understand now....

Here is my EUR/USD pairs with elliot wave analysis inside.

Is my analysis with elliot true Mihai? If it`s true then euro will going down.

Am I right

ailovefx · #8 09-26-2007, 07:31 AM

thanks for posting EW theory so far I really blind about this.

Can we use EW in small time frame ... below 4H daily chart

I'll keep an eyes for the next post ..

ghaze · #9 10-03-2007, 04:41 AM

Quote:

Originally Posted by ailovefx

thanks for posting EW theory so far I really blind about this.

Can we use EW in small time frame ... below 4H daily chart

I'll keep an eyes for the next post ..

Actually if I plot EW in small time frame i.e 30m chart or lower, I think it`s more confusing than if I plot in bigger time frame....

May be there is opinion about this from FX instructor...

ghaze · #10 10-10-2007, 04:54 AM

Hello... Traders

Thanks for viewing this thread so far. Many traders usually using elliot wave and combined by fibonacci.

Fibonacci price points, or levels, for any forex currency pair can be calculated in advance so that the trader will know when to enter or exit the market if the prediction given by the Fibonacci forex day trading system he uses fulfills its predictions.

I think from here we get the conclusion is we are using EW for knowing the trend and for entering and exiting the market we are using fibonacci. Any opinion or question about this....

Happy trading fellas!