I am starting a new thread for 2011 Q4 (Oct - Dec), including EUR, SP, Gold, and JPY. My wave counts of last quarter can be found from: http://www.elitetrader.com/vb/showthread.php?s=&threadid=223002 Elliott Wave reference can be found from: http://en.wikipedia.org/wiki/Elliott_wave_principle My labeling for wave degrees in different time frames: Monthly - [[]], [[[II]]], [[[III]]], [[[IV]]], [[[V]]], [[[A]]], [[]], [[[C]]] Monthly - [], [[II]], [[III]], [[IV]], [[V]], [[A]], [], [[C]] Weekly - , [II], [III], [IV], [V], [A], , [C] Weekly - I, II, III, IV, V, A, B, C Daily - 1, 2, 3, 4, 5, a, b, c Daily - _1, _2, _3, _4, _5, _a, _b, _c Hourly - __1, __2, __3, __4, __5, __a, __b, __c
Hi jas_in_hbca, Thanks for nice commenting. I have been talking to myself a while before receiving feedbacks. The wave count down to 800-900 area is the replica of the fractal of 2007-2009. This assumption works so far so good. We will need to change wave count if the market tells us otherwise. Some EW technicians mark 05/02/2011 as an "X". It is also a valid count because after an "X", there will be an ABC, which matches what the current wave movement. It does not really matter too much now if the moves in 2009 and 2011 are impulsive or not because we do see a big 5-3-5 structure from 2009 to 2011. Once a 5-3-5 is formed, next piece of wave movement will be either resuming or reversing. If the wave continues in the same direction, the 5-3-5 becomes the 123 of the whole 12345. If the wave reverses, the 5-3-5 becomes the corrective wave of a higher timeframe (this scenario is the preferred count that we have now). About RP, he has contributed a lot of ideas/thoughts to the EW world. But there are something that I don't agree. And he has been wrong on SP for more than 10 or 20 years. I used to read his analysis every week (bi-week? I cannot remember), but I stopped reading that about 15 years ago because it seemed to me that RP does not really understand wave patterns (and how those patterns got formed by the market). I suspect that he never really traded by using wave analysis; he would have been wiped out many times long time ago otherwise.
Hi Snow Thanks for your reply. This guys blog may be of interest to you. He has a link to his EW charts on the right side. http://s2trading.blogspot.com/ Are you trading your signals ? jas
Hi Jas - Thanks for sharing the link. Yes, I do trade according to my wave count prediction. I don't use any indicator. The success of trading with EW really depends on how successful the prediction is (or how well a wave pattern can be identified).