Modern Elliot Wave trading using Elwave. - page 17
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I am holding on. This is a real nice short position, was already 140 pips tonight. I am keeping it till the figure i said in your thread. I moved my stop to break even already, so will it go there? I think it will even go down to at least 135.65, the 61.8 retracement of the whole 2009 correction since we are already pas 50% correction of the wave 4, an if our count is good, i don't see why i would be afraid. You should position a 0.1 lot on this and let it run... It's not to latell
The wave count given by GET, I figure it will eventually become a Primary Wave 3 Down. When this takes effect, it will be a long, long way down before it completes a Primary Wave 5. I did not take a 0.1 lot was because I was disappointed with the Fibonacci Time Study on USDJPY.
Nevertheless I wait for Primary Wave 3 label to appear, then I make my order even though it is a small order.
In your case, you will be right to hang on as it is going to go down further.
Kenneth
(PS: Right now, I am on a MSN chat with FormulaOneFan. Shall I add you on as a contact so that we can chat whenever you feel like it. - hehehe. Gann68uk said he will be joining later as he cannot chat while working. I am on internet almost all the time - so very free to chat.)
The wave count given by GET, I figure it will eventually become a Primary Wave 3 Down. When this takes effect, it will be a long, long way down before it completes a Primary Wave 5. I did not take a 0.1 lot was because I was disappointed with the Fibonacci Time Study on USDJPY.
Nevertheless I wait for Primary Wave 3 label to appear, then I make my order even though it is a small order.
In your case, you will be right to hang on as it is going to go down further.
Kenneth
(PS: Right now, I am on a MSN chat with FormulaOneFan. Shall I add you on as a contact so that we can chat whenever you feel like it. - hehehe. Gann68uk said he will be joining later as he cannot chat while working. I am on internet almost all the time - so very free to chat.)Do i need a hotmail account?
Do i need a hotmail account?
Both these guys are using yahoo accounts. I think when my daughter did it for me, she created a hotmail account for me.
Let me know so I can add you in as contact, and I let the other 2 guys know also.
Kenneth
Both these guys are using yahoo accounts. I think when my daughter did it for me, she created a hotmail account for me.
Let me know so I can add you in as contact, and I let the other 2 guys know also.
KennethConfirm. It should be a hotmail account.
Kenneth
Thanks guys for your response. Looking forward to hear more from you guys. I'm mainly trading in stocks
. No forex trading for me here because of strict currency exchange policy. Only brokers can trade on forex currently.
I am interested in elliot wave system
Kindly tell me where I can get elliot wave system. I want to try it and see how it works. Would youforward it to me please? Thanks.
Thanks Kenneth for the exhaustive explanation. I have gone through the user manual but did not get much out of it. In fact, I learned more about the software going through elliott wave instructions and websites.
I have not tried Advanced Get. There are too many Elliott Wave softwares (e.g. Refined Elliott Trader, AdGet, MT Predictor etc etc). Hence, even the choice of software to pick is also a bit confusing, especially since the learning curve is very high on most of them.
I am currently using Elwave, mainly on weekends to pick up stocks for trading in the week to follow. I don't use it to set up my target price, retracement zone and risk to reward ratio calculation.
Other queries that I have are: I have at least 6 years daily data for stocks to do my analysis.
1. Is it required to have intraday data for the same period to check for smaller time frame waves i.e. ticks, minutes, hourly etc?
My experience has taught me that even for the same stocks, wave analysis of daily data using different time period gives me totally different output.
2. Cycle, primary and intermediate targets are usually very close together (this is in my case as I target only short term movements and do not like to wait for months to confirm my target and I am a short term trader). Because of this, when one trend is broken,the whole trend breaks down regularly.
Is it possible to create multiple timeframe analysis instead of one time-frame analysis without the data getting permanently compressed?
Sorry for the TYPO. I use it to set up my target price (please ignore the "don't" in the post above). Best part is that once you know your wave labels, the stop-loss adjustment becomes very clear.
Thanks Kenneth for the exhaustive explanation. I have gone through the user manual but did not get much out of it. In fact, I learned more about the software going through elliott wave instructions and websites.
I have not tried Advanced Get. There are too many Elliott Wave softwares (e.g. Refined Elliott Trader, AdGet, MT Predictor etc etc). Hence, even the choice of software to pick is also a bit confusing, especially since the learning curve is very high on most of them.
I am currently using Elwave, mainly on weekends to pick up stocks for trading in the week to follow. I don't use it to set up my target price, retracement zone and risk to reward ratio calculation.
Other queries that I have are: I have at least 6 years daily data for stocks to do my analysis.
1. Is it required to have intraday data for the same period to check for smaller time frame waves i.e. ticks, minutes, hourly etc?
My experience has taught me that even for the same stocks, wave analysis of daily data using different time period gives me totally different output.
2. Cycle, primary and intermediate targets are usually very close together (this is in my case as I target only short term movements and do not like to wait for months to confirm my target and I am a short term trader). Because of this, when one trend is broken,the whole trend breaks down regularly.
Is it possible to create multiple timeframe analysis instead of one time-frame analysis without the data getting permanently compressed?