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Posted

Hmmm...

 

I think must need to find some way to know what are the signs of wave completed.

For example, it will retrace very fast, like just now. Or candles pattern??

 

What do you think? How do you know when the wave is completed?

 

Smile

Chankl78

Posted

well things stand like this ...

wave 5 for ex is complete when prices go beyond the extreme point of wave 4

 

now ... in forex there is a lot of volatility and manipulation of data so ... i tend to wait for a close that breaches that extreme not only prices movement beyond that level

Posted

Hmmm... Indeed you are right. But which time frame will u based on? M15 as yr confirmation or H1??

 

If using higher timeframe (Greater than H1), will miss out lots of pips. But use M15... sometimes also create fake out thus lose pips. Use candlesticks pattern... can change within the next candle...

 

Hahhaha.. Forex is so interesting....

 

Smile

Chankl78

Posted
well things stand like this ...

wave 5 for ex is complete when prices go beyond the extreme point of wave 4

 

now ... in forex there is a lot of volatility and manipulation of data so ... i tend to wait for a close that breaches that extreme not only prices movement beyond that level

 

Today GU also... Wave 3 is never ending... Also never know when it is forming the wave 5 of the wave 3....

Thus lose some pips because of it.. cos 2 times it has change in direction..... but after 1 to 2 hours... came back down.....

 

Smile

Chankl78

Posted

man if you trade H1 you have to wait to the break on H1

but u do no enter at that break .. at least i do not do that

for example

entering in a corrective wave A after an impuls is very dangerous because as u found out today you only know when 5 is complete after wave A is almost over

but if that is the case u will wait for Wave B to finish and then enter on wave C which is longer and with a higher probability taking into consideration what you had done until that moment (waited for A to confirm Wave 5 and for price to retrace - Wave B)

Posted (edited)

Now I understand after a hard reality... Will follow your method. Wait until A is form & then enter trade.

 

http://i43.tinypic.com/htgxw3.jpg

 

This is my target after wave C is completed.

Now, I think GU is forming 3 waves of B if not wave 4 of A.

if not, Looking at M5, Wave A & B is completed... Wave C is forming. (5-3-5) If I am not wrong.

 

Still waiting for confirmation.. But Wave A is already at 50% retracement just now.

Elliott Wave if count correctly can really predict future.

 

Smile

Chankl78

Edited by chankl78
Posted

Now, I need to relook into my corrective wave structure...

I always thought the whole collective wave is 50 - 61.8% of last impulse wave. I am wrong...

It is Wave A... So by by the time Wave C completed, it is still ard 61.8% of the Impulse Wave Structure???

 

5, 3, 5, 3, 5 - that's means, i fall for it last week.. end up bad trade.. Cos I really tot it going uptrend...

You have mentioned to me... I never took notice.... sigh...

 

This time, I will be real careful.

 

Smile

Chankl78

Posted (edited)

if anyone is interested here are my chart for Tuesday

 

H4:

http://img685.imageshack.us/i/70889551.pnghttp://yfrog.com/j170889551phttp://img685.imageshack.us/img685/4954/70889551.png

 

H1:

http://img232.imageshack.us/img232/8665/32693816.png

 

the last 2 areas on H1 held very well ... the second support area was the real support area as u can see from the picture of the H1 timeframe

 

Loopyno

Edited by loopyno
Posted

Great one....

 

Very soon I will join you in quest of EU..... Hee hee... clearing out my hedge very soon....

Make a good profits on yesterday Down move. (Of cos still have losses... if not, the profits will be more higher)....

 

Must determine not to make stupid move again... & must always based on the confirmation of my EWO of higher timeframe. Since it been super accurate.

 

Smile

Chankl78

Posted

GBPUSD 20th April 2010

 

Here is my view today.

 

Waiting for Wave 4 to complete & come down. 2 situations.

 

1) is to come down straight.

2) There is 1 more up wave before coming down.

 

Daily Chart

http://i44.tinypic.com/ojpnqr.jpg

 

H4 Chart

http://i39.tinypic.com/1z2njw9.jpg

 

H1 Chart

http://i40.tinypic.com/w2dmbp.jpg

 

M15 Chart

http://i40.tinypic.com/24dlgf8.jpg

 

hope it will helps.

 

Trade at your own risk.

 

Smile

Chankl78

Posted

My Plan for GBPUSD 20th April 2010

 

http://i40.tinypic.com/2ewmqfo.jpg

 

As you can see... I am still waiting for it to reach 61.8%.

I will short once it goes up & back to 61.8%. Which is around 1.5331

 

My target is as follow. You can see the FE 61, FE 100 & so on. That's is my target.

Which is 1.5161, 1.5070

 

Trade at your own risk....

That's my plans. Hope it works out.

 

Smile

Chankl78

Posted (edited)
Your chart look good. Can you share your template and indicator?

 

Hey szelee

 

I do not use an indicator ... i count the waves manually ... i draw the targets manually ... so i have no indicators to share :)

 

Loopyno

Edited by loopyno
Posted (edited)

Manual calculation of Elliott wave is so fun.... Especially when you count right..

Now... I am GU touch my 61.8% of correction wave. Wave C should be completed...

 

Haha.. Never wait for correct signal & I already enter a short....

 

Smile

Chankl78

 

So also EWO is showing the correct thing in H4... It will goes up... Think I better exit first first & wait for confirmation...

Edited by chankl78
EWO in H4 is correct
Posted

You are very right. So exited.... in a pip profit....

 

Waiting for confirm signal... wahaha.. canot be arrogant... cannot be greedy..

But i am so amaze by fibo lines. It just stop right there...

 

Smile

Chankl78

Posted

This could be the signal to downtrend if my counting is right..

 

http://i39.tinypic.com/118huo0.jpg

 

Just now have completed it last upwave...... At 161.8%...

 

Now waiting for M15 & M30 for short confirmation... Good luck all..

 

Smile

Chankl78

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