Ewj: elliott wave

[blnbr]

Fibonacci channel & fan on USDCAD weekly

 

[elovemer]

wave 3 target

 

[Mup]

Quote from cashmoney69
I'm havn read all posts, but i have some questions
1. How do you find entrys? by the time you see one wave is over, youre already too late on entry
2 stops? how do you set them if any
3 Where are targets?, do you use fib retracements for this?
4. Support and resistance, is the wave itself susposed to be the s/r?thanks

Basically comes down to Pattern recognition, as blnbr points out..

Wave action, be it corrective or impulsive have certain behavioral habits & identifying rules.

If you can recognise which pattern the waves are tracing out at any given time, then you can start to anticipate Techincal price pressure points based on wave ratios &/or fibonacci retracement/extention relationships.

These techincal pressure points allow a controlled risk entry points allowing for stops to be utilised around these points.

Price will soon tell us if your right or wrong. If your wrong you've got a controlled risk point to bail from. If your correct then you have a good entry point for your anticapated target.

Targets are again formed from the current wave pattern your anticapting the markets tracing out. Corrections have different targets compaired to impulsive waves for example.

In Elliott Wave terms there are two types of support/resistance.

First support/resistance.
This is the congestion & swing points areas you see on the chart. This relates to prior waves sets of varing degrees.

The second is implied support/resistance.
Which is related to wave ratio targets & fibonacci retracement/extentions as the waves develope in struture.

Hope this helps

 

[Mup]

I was in the middle of re-wording that last bit about sup and res and the 30min run out in the middle of my rearranging ...:eek: Mods can edit above if they so wish ...

It should read:

First is implied support/resistance.
This is the congestion & swing points areas you see on the chart. This relates to prior waves sets of varing degrees.

The second is dynamic support/resistance.
Which is related to wave ratio targets & fibonacci retracement/extentions as the waves develope in struture.

 

[nkhoi]

Quote from cashmoney69:

I'm havn read all posts, but i have some questions

1. How do you find entrys? by the time you see one wave is over, youre already too late on entry

2 stops? how do you set them if any

3 Where are targets?, do you use fib retracements for this?

4. Support and resistance, is the wave itself susposed to be the s/r?

thanks

check this out http://picasaweb.google.com/shalomav

 

[ed]

Fifth waves are quite unpredictable as it can extend.

The first target to lookout for would be 5=1 at 713.17. (Note ES has already tested 711.25)

Bears would have to watch this fifth carefully as many are expecting a huge bear rebound rally when this ends.



SPX 120min

 

[ericmoles]

Quote from ericmoles:

Landis and Mu, I think we are on the same page. I'm hoping for a gap down opening on Monday for a quick long play back up to wave 4 of 3 of 5 before another 5 wave decline to a low that should hold for a while.

Looks like we'll get the gap down, now lets see if that is the end of wave 5 of 3.

 

[ed]

Since most are thinking we're in the midst of 3 of 5 down, I thought I'll throw a curveball flat....

Count invalid if SPX breaks below ~693.15

SPX Daily

 

[Landis82]

715.29 SPX so far for the low . . .

 

[mu200411]

Looks like fifth of fifth of fifth subwave of third wave .
There may be a rebound as fourth wave soon .