Scalping strategy with Elliot wave

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Read about Elliot wave and knowing there are certain rules which are:

A correct Elliott wave "count" must observe three rules:

  1. Wave 2 never retraces more than 100% of wave 1.
  2. Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
  3. Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle.

According to rule 2, we will never know whether it is a valid Elliot's wave if the wave 5 is not formed yet, so the only thing we can make advantage from Elliot's wave is the retracement, and since we will never know whether wave 5 has completed, and we will only know when retracement wave B is completed, so actually the only advantage we can take from Elliot wave is Wave C retracement.

So if we can develop and EA for scalping at 5s for all charts the pipping will be very significant taking in considerations that all rules are abided and Elliot wave is correct 100% of the time.

Willing to hear more feedbacks, pls do back urself up with proves tq
 
mp88:
Read about Elliot wave and knowing there are certain rules which are:

A correct Elliott wave "count" must observe three rules:

  1. Wave 2 never retraces more than 100% of wave 1.
  2. Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
  3. Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle.

According to rule 2, we will never know whether it is a valid Elliot's wave if the wave 5 is not formed yet, so the only thing we can make advantage from Elliot's wave is the retracement, and since we will never know whether wave 5 has completed, and we will only know when retracement wave B is completed, so actually the only advantage we can take from Elliot wave is Wave C retracement.

So if we can develop and EA for scalping at 5s for all charts the pipping will be very significant taking in considerations that all rules are abided and Elliot wave is correct 100% of the time.

Willing to hear more feedbacks, pls do back urself up with proves tq
You must develop EA to test that rule.
 

The rules mentioned above is not the only rules missing many rules and dozen of guides whatever (Swannel or Prechter) guides .. .

I'm using EW in regular strategy and scalping also but you should keeping update your brain so fast with many scenarios could happend specially in correction waves which is 3 FAMILIES ZZ , FL TRI and each 3-4 shapes ie. ZZ = (ZZ, DZ, TZ).. and (TRI = CT, ET ) also in shape horizontal or upside or downsize ...etc.

If you used before one of EW programs you will find around 100 scenarios upside down all of it following rules & guides , but which one is the correct !! ?  , So, you need to make filteration .

 

Now what kind of filteration ? its depend :

1 - Momentums like Stochastic ...etc.

2 - Another pair similar/opposite waves direction.

3 - Fundemental news .

 

Therefore , it is so difficult to make Elliott Waves EA scalping . 

 
1.fibo is enough
 

for scalping elitoe wave works 80% or 100% successful ???

you using how long this one let me know any good screen chart  ,

wave 2 and 3   if like a swing high means where we can set the fibo 0 point and 100 point ?????

 
I think that Elliott waves better for a long term 
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