Asking For elliot Wave

[TheRock]

Hello, TheRock gonna ask if anyone have workspace from 2000 in 1hr 4 hr and daily in wave analysis.

Therock gonna learn how to execute limit order, so the rock think that wave analysis is very important

[dangerous2010]

dear sir

elliote wave is very important trade method

but there are many elliote schools and that is problem

thanx

[dollar_earner]

me too want to learn more about elliot wave.. i just read the very basic of it.. if somebody knows how to do it effectively kindly share it here. when you want to learn the basics of elliot wave try to visit babypips dot com...

[adomym]

I am a newbie,I`d like listening to others' opinion .
thanks.

[fxmaster81]

ELLIOTT WAVE THEORY BASICS

Like many things Elliott Wave theory can be simple or complex, it's up to you. The basic premise is that high volume, free markets (no Government intervention over the long haul) are subject to the individual investors hopes (greed) and fears en masse. These emotional capitulations are reflected graphically at any point of any day by price. Portraying these swings in chart form provides a picture of the current market psychology. In the earlier part of this century Ralph Nelson Elliott promulgated tools with which to interpret the chart patterns and hence, the name of the theory.

ELLIOTT WAVE IMPULSE PATTERN

The major trend in every time frame takes the form of five waves (impulse wave) which, once complete, are corrected by three waves. The following is a bull market description: Wave One (W.1) is up and Wave Two (W.2) is down correcting W.1. When W.2 is finished, W.3 again moves upward followed by a downward W.4 that corrects W.3. The final upleg is labeled W.5 ending the entire swing. The corrective W.2 and W.4 normally retrace W.1 and W.3 by a Fibonacci relationship.

ELLIOTT WAVE RULES

* Movements in the direction of the main trend of the market occur in 5 waves (impulse waves) while corrective waves are always three wave affairs.
* W.2 can never retrace more than 100% of W.1. If that happens, the impulse interpretation was incorrect.
* W.3 is never the shortest wave in terms of price. It does not have to be the longest, but in such a case either W.1 or W.5 must be shorter.
* W.4 cannot overlap W.1.
* In recent years there has been a trend to accept an overlap on a range (bar) chart but not a closing (line) chart. The author knows of no such distinction by Mr. Elliott. Practitioners of the "modern" rules permit diagonal patterns with overlaps in W.1 and W.5 but not in W.3. The occurrences are primarily related to the various commodities and to individual stocks which are more volatile and swing independent than historical indexes such as the Dow with years of trend.

ELLIOTT WAVE GUIDELINES

* Alternation is a common theme. A classic example compares W.4 with W.2. Alternation implies that if W.2 was a simple corrective sequence (A-B-C) then W.4 will likely be complex (double three, triangle, etc.) pattern. Alternation basically tells you what not to look for. In this case don't look for a simple W.4.
* W.3 is generally the longest (price-wise) and strongest (technically) of the impulse waves.
* When W.3 is the longest wave, W.1 and W.5 tend toward equality in both price and time.
* Retracements tend to halt at the prior fourth wave of lessor degree. This statement simply means that once a five wave sequence is done it becomes the next larger degree impulse wave, say a W.1. The correction that follows (larger W.2) will be three waves into the zone of the prior w.4 which is a component of, and therefore a degree smaller (lessor) than, the completed W.1.

[umaranjum]

Thanks for the post. I didn't knew about elliott waves, now I am definitely going to try it at a demo account

[ceestech]

wow, that elliot wave article was it. It certainly increased my knowledge.

[enjoylife]

Thanks a lot for sharing this information . Elliot's wave theory is a very good indicator for trading . Although I am still trying to learn about it .

[adnan10076]

The Elliott Oscillator with the right time frame chart is a powerful analytical tool to quickly determine the probable termination of a swing.

[goodshowt]

This is a very good system here the fault is he did not explain well for traders. This well working system and new traders must learn it that how it work and how to get profit by using this

[janknoah]

The elliots waves strategy is one trading strategy which i have found so hard to understand. I have seen a few resources about it though. I need help on it