Elliot waves

Hey,
My first attempt at identifying Elliot waves. Look, it actually works!!! :slight_smile: Got so excited I just had to share it with someone (yes, I’m an overenthusiastic noob :stuck_out_tongue: )


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Sweet. But… What is elliot wave? Hahaha, Can tell us more how u identify the wave? And how it actually work? Able to tell us more?

I’m going through the lessons on the School pages on this site, and read about Elliot waves in this chapter: Elliott Wave Theory Archives

So, I’ve been trying to pick out those first impulse waves and seeing if the movement sticks to the pattern. This one is still going. It’s now reached the 4th wave and is about to start on the 5th. Fascinating stuff! :slight_smile:

Looks good man! i heard that Elliot Waves are considered to be one of the most difficult technical analyses tools but also being the one that works (when fully understood)

I am trying to understand the waves as well but the book is so extremely dense…

what helped me a lot was a podcast episode:

024 - Elliott Waves with Anil Mangal - Two Blokes Trading

might be helpful :stuck_out_tongue:

Pipeater

Looks exciting. You inspired me to learn more about Elliott waves :slight_smile:

Thanks for sharing your discovering! And are elliot waves connected with Fibonacci ratios? Should I learn Fibonacci well to use elliot waves?

Hafidfx, according to the Pipsology section, Eliot Waves are “sometimes” connected with Fibonacci ratio.

I have a basic question before such technical part…
Which scale do we use the Eliot Wave for determination of the buy and sell times?
Pipsology article says Pivot lines are used for the day trading but my basic assumption is that will the Eliot Waves work in the shorter period like 15minutes as well as the 1 week scale? I saw the inverted mountain wave on the gold today and I noticed it after few hours from the formation and I did not purchase gold. I think it was in 4 hour scale. Will it be safe to make the entry by the 15 minutes scale if I see the particular winning Eliot Wave sign. Or will it be the common sense to buy at 4 hour or 1 day with such a scale? And will the line make the raise in the similar period always? I mean 4 hours scale to be created for the upward line in another 4 - 16 hours and such.

I read up a bit on Elliot Waves when I first started trading, it just never resonated with me.

Im glad that it resonates with you and has sparked your enthusiasm.

I hope you are very successful and please keep us posted on your continued progress and any new insight you are willing to share.

Best of luck to you.

Nice chart! Please keep posting here on EW! I am also interested to learn from your live trading examples! Best of luck.

something like? longer term look at the cable, my first attempt at Elliot