I am opening this thread for people who love elliot waves and i would more people to discuss about elliot waves counting and most importantly counting them correctly.......
Basically why i open this thread is because i realise that elliot waves works really well with s/r lines....
Elliot waves here act as high probability moves and s/r lines act as drivers for entry and exits.....we will discuss more about it
http://img58.imageshack.us/my.php?im...otwave1lu0.jpg
We shall look at gbp/jpy since it is quite popular among everyone.....
Eliot waves works in all time frames and glad to say, it really gives someone greater confidence to take a trade and also u will not suffer a loss when that confidence comes....I will try to update this thread once in a while....we shall all stick to 4hrs....
From my analysis, there will be a long pulldown from 'X' surely so basically i entered from 212.79 line short and exited at around 211.05 line.....that's 100+ pips gain.....This kinda trade for elliot wave reading is common if u know how to read it correctly....
What we are going to see next week, The 'X' have been formed so we wait for wave 1 to be formed first.....what i am seeing here is that i expect a much greater pulldown on monday to around 209.75 area and later wave 1 start to form......and wave 2 formed and then we enter during wave 3 to take the huge profits.....i shall update this thread.....keep watching
06-29-2008, 09:11 AM
Linear Mode
