My Forex Prediction using Advanced GET - page 70
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Hello, Kenneth:
Like to thank you for your educational and practical articles that you have written over the weekend on using Elliott wave counts to do day/position trading.
These articles are very helpful and hope you will continue to help us by sharing your knowledge and experience in Elliott Wave trading.
Joe44
According to elliott wave theory when wave 2 has ended wave 3 should subdivide into a trend 5 waves or more so does it not make sense to follow wave 2 and wait for a trend to begin in the opposite direction then either take the break on the 123 or wait for a retracement on a short wave 3 as you know wave 3 itself will probably subdivide again .
Let me give you an example
the chart i have attached is of the GBPJPY showing 3 degrees of wave
BLUE is the daily
RED is the 4hour
GREEN is the 1 hour
bubbleTo Readers/Users of GET or Elwave:
Bubble has posted an interesting chart divided into 3 Wave Degrees of Daily, 4 Hour and 1 Hour combined.
I too would like to post a question to my readers.
I like to test how well readers are now familiar with the Elliott Wave charts from GET or Elwave having seen so many of them in this thread.
1. Are Wave Degrees divided into Daily, 4 hour and 1 Hour - all in one chart?
Wave Degrees should be divided into Primary, Intermediate, Minor, Minute, etc. Wave Degrees.
We either have Elliott Wave charts for Daily, 4 hours, 1 hour, 30 min, etc. individually and not combined all in one.
And for each category of these individual charts, they are divided into Primary, Intermediate, Minor, etc. wave degrees.
2. Is the chart posted by bubble really an Elliott Wave chart?
3. If Yes, why?
4. If No, why?
Enjoy yourself
Kenneth
One of my observation i can share here is that the waves and fibs retracements on the US$ dominated pair are more clearly define on an H1 chart/daily basis, and the wave on JPY denomination are more clearly define on an H4 chart/weekly basis. But that can only be me!
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To Readers/Users of GET or Elwave:
Bubble has posted an interesting chart divided into 3 Wave Degrees of Daily, 4 Hour and 1 Hour combined.
I too would like to post a question to my readers.
I like to test how well readers are now familiar with the Elliott Wave charts from GET or Elwave having seen so many of them in this thread.
1. Are Wave Degrees divided into Daily, 4 hour and 1 Hour - all in one chart?
Wave Degrees should be divided into Primary, Intermediate, Minor, Minute, etc. Wave Degrees.
We either have Elliott Wave charts for Daily, 4 hours, 1 hour, 30 min, etc. individually and not combined all in one.
And for each category of these individual charts, they are divided into Primary, Intermediate, Minor, etc. wave degrees.
2. Is the chart posted by bubble really an Elliott Wave chart?
3. If Yes, why?
4. If No, why?
Enjoy yourself
KennethWhere does a new wave begin? in theory to find a correct wave count it is necessary to count all the waves from the beginning of time which is impossible ,all waves subdivide therefore it does not matter which timeframe you use as your starting point , the chart i posted identified the beginning of a new wave on the daily , if i was wrong the wave would of unfolded differently as it is ,it unfolded into 3 waves which we can clearly see on the 4 hour chart and each of the 3 waves from the 4 hour subdivided on the 60 min .
The point here is that it is necessary to have a starting point whisch can be from a new low ,new high or a retracement in a already established trend and work that wave as a single wave and see how it subdivides and it is the subdivisions that will give you the clues as to where to enter and exit.
Therefore i could of posted the daily ,240 and 60 minute but instead chose to show all the three wave degrees in the same chart( will rephrase this ) yes i i could of posted the daily with all the 3 waves degrees in one chart but the only way to see the 3 degrees that i posted is by looking into the new wave from the daily to see how it is unfolding .
As for not labeling the charts correct ,forgive me so lets call the daily the primary,240 is the intermediate and the 60 minute minor ,the chart i posted is not a elwave chart but for sure it is an elliot wave chart .
bubble
My chart
The chart i posted is definately an elliot wave chart but not an elwave chart ,
I have added some comments to my original post with the chart and instead of talking about timeframes i have refered to each degree of waves as primary ,intermediate and minor .
As you already know a primary wave will subdivide on lower degrees and there are many ways to describe a degree one being time ,in my example as i do not use elwave or get i have used time as my degrees ,which i believe is perfectly acceptable so long as the method used for identifying the waves is accurate.
So back to your elwave program ,when you are looking at a 5 minute chart and have identified a new primary wave with all the intermediate and minor waves all labelled on the same 5 minute chart these waves are coming from a lower degree timeframe and may i add that elliott in his notations of waves degrees does use time to represent each degree.
Grand supercycle: multi-century
Supercycle: multi-decade (about 40-70 years)
Cycle: one year to several years (or even several decades under an Elliott Extension)
Primary: a few months to a couple of years
Intermediate: weeks to months
Minor: weeks
Minute: days
Minuette: hours
Subminuette: minutes
bubble
The chart i posted is definately an elliot wave chart but not an elwave chart ,
I have added some comments to my original post with the chart and instead of talking about timeframes i have refered to each degree of waves as primary ,intermediate and minor .
As you already know a primary wave will subdivide on lower degrees and there are many ways to describe a degree one being time ,in my example as i do not use elwave or get i have used time as my degrees ,which i believe is perfectly acceptable so long as the method used for identifying the waves is accurate.
So back to your elwave program ,when you are looking at a 5 minute chart and have identified a new primary wave with all the intermediate and minor waves all labelled on the same 5 minute chart these waves are coming from a lower degree timeframe and may i add that elliott in his notations of waves degrees does use time to represent each degree.
Grand supercycle: multi-century
Supercycle: multi-decade (about 40-70 years)
Cycle: one year to several years (or even several decades under an Elliott Extension)
Primary: a few months to a couple of years
Intermediate: weeks to months
Minor: weeks
Minute: days
Minuette: hours
Subminuette: minutes
bubbleHello, bubble:
Good to hear from you giving more details on your chart.
From your writing, I have no doubt you are knowledgeable in Elliott Wave Principles and Elliott Wave charting.
I am a follower of Elliott Wave Principles and I am interested in any thread that touches on Elliott Wave irrespective whether the charts are generated using GET, Elwave or any other sources or manner.
I notice in this forum, at present there are only 2 threads on Elliott Wave charting ie:
1) One started by serulink using Advanced Get and now taken over by Kenneth since serulink has abandoned this thread.
2) A new thread started recently by GreatYves in Harmonic Trading – Modern Elliott Wave trading using Elwave.
I see you also as an “expert” in Elliott Wave Principles and charting; can I suggest why won’t you also start a NEW THREAD in Harmonic Trading on your existing way of charting Elliott Wave charts and making predictions, otherwise it is all talk and nothing for readers to follow.
You can be sure I shall be one of the first readers of your new thread, so that we can have 3 different threads with 3 different approaches. It will definitely enrich readers knowledge of Elliott Wave Principles and charting.
I hope my request to you, bubble, is reasonable and not demanding.
Joe44