elliott-today - riding the waves with confidence

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March 27, 2017

 

 

 

 

 

 

 

 

 

The Elliott Wave Principle is a detailed description of how markets behave. The description reveals that mass investor psychology swings from  
pessimism to optimism and back in a natural sequence, creating specific patterns in price movement.Each pattern has implications regarding  
the position of the market within its overall progression , past, present and future. The purpose of this publication and its associated services is
to outline the progress of markets in  terms of the Elliott Wave Principle and to educate interested partiesin the successful application of the 
Elliott Wave Principle. This is probably the most comprehensive trading education on how to project high probability time & price targets based 
on  Elliott Wave pattern structure.

 

 

 

 

 

 

 

 

 

 

EURUSD

 

 

 

 

 

 

 

EURUSD                                                                   >>>
EURJPY                                                                    >>>
GBPEUR                                                                   >>>
USDJPY                                                                    >>>
EURCNY                                                                   >>>

 

 

 

 



EURUSD: What Do You Do When FX Markets "Break a Rule"?
Elliott wave analysis has only three hard-and-fast rules. But just how “hard-and-fast” are they?

by Vadim Pokhlebkin
Updated: August 17, 2015

Elliott wave analysis has only three rules:

Wave 2 can never retrace more than 100% of wave 1
Wave 3 is never the shortest, and
Wave 4 never ends in the price territory of wave one:

Beyond these rules, there are many guidelines for wave formation. But a guideline is just that -- a guideline, while a rule is... well, something you cannot violate. 
Or can you?

Jim Martens, editor of our Currency Pro Service, got this question from one of his Twitter followers:

"IMO, in the real world of #elliottwave with human traders 'wave 4 lightly overlapped ...wave 1' is reality, not a violation."

The reader was referring to Jim's August 13 tweets about a possible wave 4/1 overlap in his EURUSD count:

EWI Forex Insider @FX_ElliottWave [Aug 13]
If $EURUSD rally yesterday was wave 3, then today's drop is wave 4. But then wave 4 lightly overlapped top of wave 1, an EW rule violation.

EWI Forex Insider @FX_ElliottWave [Aug 13]
But USDX is not showing this overlap. EUR is 57% of USDX; they are highly correlated. This non-confirmation keeps us looking up in the EUR.

Here's that EURUSD chart, from August 13 (copied from our Currency Pro Service, partial Elliott wave labels shown): 
So, what do you do in a situation like that -- when there appears to be an Elliott wave rule violation on one chart (EURUSD, above), but on a chart of a highly 
correlated market 
(U.S. dollar Index, not shown) the same violation is not visible?

Here's Jim's answer:

Good point. Wave 4/1 overlaps do happen in forex, especially on short-term charts. And even Frost and Prechter's "Elliott Wave Principle -- 
Key to Market Behavior" (the “Elliott wave Bible”) says this:

"In an impulse, wave 4 does not enter price territory of (i.e., ‘overlap') wave 1. This rule holds for all non-leveraged ‘cash' markets. Futures markets, with their 
extreme leverage, 
can induce short term price extremes that would not occur in cash markets."

However, the book goes on to say:

"Even so, overlapping is usually confined to daily/intraday price fluctuations and even then is rare."

So overlaps are indeed rule violations and are always a red flag, even if the market "disregards" them and stays on its Elliott wave path.

Or, as Bob Prechter once put it,

"Application of the Wave Principle is an objective discipline. For this reason, only rigorously honest interpretations can be accepted as valid. If you want your 
hopes or whims 
fulfilled regardless of the evidence, the market will punish you for that weakness." 



 

 

Forecasting With The Elliott Wave Principle

5 Waves Up  - (c) ELLtoday, March 27 ,2017

 

chart: Barchart.com

Copyright © 2017 ELLIOTT today. All Rights Reserved.  None of these stocks are buy or sell recommendations. 
There is a high degree of risk in trading. CLICK HERE FOR FULL RISK DISCLOSURE.

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Elliott-today - riding the waves with confidence

Elliott Wave Analysis [45 min. chart, 1.08555]

Good morning. My name is Karl H. Lachmann

Elliott perfect: parallel trendchannel, five waves up, three waves correction, alternate#: flat, double three.  

If you have questions mail to:  trading618@freenet.de

 

March 2017 >>>

February 2017 >>>

January 2017 >>>

 

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Forecasting With The Elliott Wave Principle

Two Channels & Two, Mid-Lines  - (c) ELLtoday, March 24 ,2017

 

chart: Barchart.com

Copyright © 2017 ELLIOTT today. All Rights Reserved.  None of these stocks are buy or sell recommendations. 
There is a high degree of risk in trading. CLICK HERE FOR FULL RISK DISCLOSURE.

---

Elliott-today - riding the waves with confidence

Elliott Wave Analysis [45 min. chart, 1.07956]

Good morning. My name is Karl H. Lachmann

Two Channels & Two Mid-Lines point the way....

If you have questions mail to:  trading618@freenet.de

 

March 2017 >>>

February 2017 >>>

January 2017 >>>

_________________________________________________________________________________

 

 

 

 

Forecasting With The Elliott Wave Principle

Trendlines, Mid-Lines & More  - (c) ELLtoday, March 22 ,2017

 

chart: Barchart.com

Copyright © 2017 ELLIOTT today. All Rights Reserved.  None of these stocks are buy or sell recommendations. 
There is a high degree of risk in trading. CLICK HERE FOR FULL RISK DISCLOSURE.

---

Elliott-today - riding the waves with confidence

Elliott Wave Analysis [45 min. chart, 1.07805]

Good morning. My name is Karl H. Lachmann

Five waves up, again and another  turning point... 

If you have questions mail to:  trading618@freenet.de

 

 

 

 

How Fibonacci Ratios Govern the Stock Market
Scientists speculate that Elliott waves are the stock market's "critical structure"

By Elliott Wave International

 

 

 

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EW-Examples of Five Wave Move               >>>

EW-Examples of Diagonal Triangles          >>>

EW-Examples of ABC Zigzags                     >>>

EW-Examples of Double Three                    >>>

EW-Examples of 4th Wave Retracements >>>

 

 

 

 

 

 


Testimonies

 

As I indicated several times before - the best "wavy gravy" on the net - bar none! Enjoy. Sept.2,2004, clearstation.com

Hey War - Speaking of "poils" - keep an eye on that ML-2:
clearstation,8/22/04

The best wavy-gravy on the net, nonetheless. Enjoy!
Clearstation,Aug.16,2004

Hey John - These guys cook up the best wavy gravy on the net - BAR NONE - so I'm salivating as I wait for dinner to be served! The appetizer last week was delicious. Enjoy! Clearstation,Aug.9,2004

"hi ernie - These guys make the best wavy-gravy calls, period."
[clearstation.com]

"Hi John - The Elliott chart I cited yesterday @ 12:43 PM turned out to be the most prescient one of all - projected 1128; SPX high of day was 1127.65.  Not too shabby! If you could post charts like this, that would be great!" 

 

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Copyright ©  2017. ELLIOTT today. All Rights Reserved.  None of these stocks are buy or sell recommendations. 
There is a high degree of risk in trading. 
CLICK HERE FOR FULL RISK DISCLOSURE.

The Elliott Wave Principle is a detailed description of how markets behave. The description reveals that mass investor psychology swings from  pessimism to optimism and back in a natural sequence, 
creating specific patterns in price movement. Each pattern has implications regarding  the position of the market within its overall progression, past, present and future. The purpose of this publication 
and its associated services is  to outline the progress  of markets in terms of the Elliott Wave Principle  and to educate interested parties in the successful application of the Elliott Wave Principle. 
This is probably the most comprehensive trading education on how to project high probability time & price targets based on Elliott Wave pattern structure.