montapicolhos

hi, montapicolhos,

 

Based on my limited knowledge on EW:

On H4, I would had counted Your 5 as 3, Your A as 4 and Your B as 5. To me, Your 5 to A is a complex corrective wave. and currently think that wave A.

 

In what way that you can confirm your count is correct ?

 

Thank you for giving me the rare opportunity to learn

Yes, your counting could be correct. In that case we have some extension of wave 3 because we can see 2 big corrections on that wave. At first that was my counting also.

However look carefully at what I call wave B. You will see a wave without almost no waves at all, only one big vertical line. Where is the 4 wave of this one? For me this is a typicall B wave!

But there is no more subjective theme than wave counting. If you find 5 wave counters you get 5 different wave analysis.

Hi montapicolhos,

 

I see your fib from pt2 to between [email protected]. What the reason you use this 2 points ? Why not other obvious points ?

for example, If you fib the correction wave pt3 and pt4 (both green and pink), there is a confluence of 161.8% and 138.2% respectively with SnR [email protected] and your trendline green pt 3 to pink pt 3

OR

 

from begining of pt1 to pt 3, roughly come near to 127.2%.

But it was touching 123.6% ( I saw 223.6% but why no 123.6%)

Hi Artoftrade,

What I am doing is to project wave 1 from wave 2. All other waves will depend on this ones. You can see that on the various levels there is some resistence and that confirms that wave 1 and 2 maybe correct. The correct trendline should connect wave 2 and 4.The trendline above is only to see some resistance area. My entries are only on the wave 2 when possible, end of wave 4 to get wave 5 and end of wave 5- end of all wave. I dont make entries based on the trendline and i dont use any indicator or ma or rsi mac, whatever.

Ok. My first guess is that eurusd has finsihed wave C of wave 1 correction so ending wave 2. That means that is expected to fall until 1.2146 (2300 pips from now) when a big correction .maybe wave 2 of a bigger wave or a turnaround- begins. Also expect to see wave 4 about 1.30290 when many guys leave the race and a turnaround is possible. To catch this wave I have to wait to see the begin of wave 2 of this wave 3 in order to guess where the correction will end.

Regards to all.

EU was strong, retrace 40~60 pips and now hit your 1.4436. forecasting not easy

Thank, I will take a look on your other EW post.

As I said, around 1.4436, NY session was able to make a little higher because there was many convergencies above, Anyway this move down is not a little move is a BIG move down -as according to my analisys is the end of wave C- if it is a wave 5 we can expect more than 900 pips, If its the begin of wave 3 then much more pips on the horizon. The NZDUSD was not able to go on its 261.8 target only to 223.6 so it begins is fall earlier because is last wave was not strong enough and the pressure on the EURUSD. I was not able to catch the eurusd but I was able to catch the nzdusd. Hope to get on the road when eurusd wave 2 of this wave 5 or 3 has finished. Regards.

Oh! your charting deleted. I saw the double top, the rest of fibs could not figure out. You method a bit complicated. Anyway, thanks

I have deleted because it needs some update and I haven´t time. Anyway look at the fall that I think it will gonna happen today within 2 or 3 hours on the eurusd around 1.4436. Also check my forecast on the NZDUSD on another thread.

I think my method is not complicated but it needs some elliott, trendlines and S/R knowledge. The trick is to figure out wave 1 and 2, make their projection and follow the trend making special attention to wave 4. When you think that all the wave is over you bet on the opposite direction. Thats it!

Regards

hi montapicolhos,

 

Great stuff - Elliotwave and fibonacci.

 

Please allow me to learn from you, based on your method, rewind back to history, how you predict the May 20, to see the downtrend and not buy area ?

Hi ArtofTrade,

I dont quite understood your question, but if you want my opinion why the market as going down on the 20th May, according to my method was because of the that wave wich I think is an A, has arrived to the 223.6 & 261.8 extension of his wave 1 and also has made a double top with 13th May. Usually Eurusd returns on the 223.6 but if there is a nearby S/R it will go a little further to catch the orders. If its accelerated it goes sometimes to the 500% extension, but that was not the case because of the nature of wave A wich is a countertrend. The difficulty of my method is sometimes to identify wave 1 & 2 in order to make the projection. Regards.

Video tutorials

Sorry if already posted but I found great video tutorials for Advanced Get and Elliot waves.

http://share.esignal.com/groupcontents.jsp?folder=Advanced%20Get&groupid=550

Pedro