Ewj: elliott wave

ammo, Mup, MU, ED,

I appreciate your great helps a lot. Hopefully I will learn EW faster than I have expected with your tips and advices. Very nice group here.

To Mup: your wave counting widens my view on the method. I have saved the chart to my file for further reference. Thanks!

To MU: good to learn Elliott himself also used conventional TA.

To Ed: I agree with you about the importance of weekly charts. I read daily and weekly charts regularly to view the overall trends on the charts, and then read the minute charts for day or short-term trades. Will continue to follow your wave counting on the weekly charts.

Thanks again and Happy holidays everyone!
:)
 
Quote from mu200411:

blnbr,
I think Elliott used TA before he discovered the Wave Principle (although he didn't name it) .
TA is the basis for most of EW rules and patterns.
Trendline and trend channel => Wave equality,
Head and Shoulders => 3-4-5-a-b-c,
Reverse Head and Shoulders => a-b-c-1-2-3,
Double tops and bottoms => wave five failure,
Wedges => diagonal triangles,
Flag => triangles,
Volume highest in Wave 3,
Wave 5 volume > Wave 3 volume => irregular correction, etc.
mu.
More...

Hi MU, Thanks again for these counting tips!
 
Quote from mu200411:

Five waves DOWN, three waves UP.
There may be a measured move DOWN soon :) .
More...

Good forecast! Looks like it has formed a head fake pattern and moving down now.
 
The last five waves DOWN may be Wave 4)b.a:5iii which is shorter than Wave 4)b.a:5i, then Wave 4)b.a:5v may be a Bear Trap.
If the last five waves DOWN is Wave 4)b.a:5iii.i, Wave 4)b.a:5iii may be equal to Wave 4)b.a:5i, and Wave 4)b.a:5 may be equal to Wave 4)b.a:1 or :3.
If today last hour's high is broken, then we are in Wave 4)c.
 

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There may be a measured move DOWN to
4)a 8961.0996 918.85 1598.2
4)b.a:1 8527.4902 877.44 1535.38
4)b.a:4 8598.0596 880.44 1546.61
4)b.a:5 8164.4502 839.03 1483.79 :mad: .
If not we are in Wave 4)c :D .
 

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....spx might be better...
.... or you can try the ES with trading hours only.... with no after hours included....
Quote from blnbr:
Elovemer, Thanks for the labeling.
I believe SPX chart is also useful for eMini S&P analysis. I will try to do EW on SPX chart as well.
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...this chart suggests that wave 3 may be complete....
.... because of the 161% extension of wave 1
.... we just need to figure out how high wave 4 will go ... or if it has already completed itself...
.... then get ready for wave 5

... not saying this is THE count... just saying this is my count....
 

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Quote from elovemer:

....spx might be better...
.... or you can try the ES with trading hours only.... with no after hours included....
More...

One reason I watch ES is because around 8:30am EST, there are often heavy trading caused by economic data reports. The price data can be a useful reference for day trading. So I often watch both ES and SPX.
 
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