Elliottwave13 Trading

Elliottwave13

Junior member
13 1
I know that there is a lot of controversy about Elliott Wave Theory. My goal is to share what I have learned thus far about it as a trader and hopefully it will benefit some other traders. I can say from what I have learned thus far is that there is no "magic bullet" to trading or anything else in life. I have however found Elliott wave Theory to be helpful when used with other technical indicators. I will also tell you that I am 50 years old and have never made the astronomical gains that all of the internet BS adds say that you can make if you buy their system. LOL. My opinion is that if trading was easy then everyone would do it and then the waters would be clouded again and it wouldn't be easy. With all of that being said then I am slowly profiting from the financial markets and I think there are a lot of people who are smarter than me that will make gains faster than me. So please enjoy my thread and let's collaborate together to make more winning trades.
 

Elliottwave13

Junior member
13 1
I am attaching the current Dow Jones monthly chart with my Elliott Wave labels for an expanded diagonal, which is a,b,c,d,e for a corrective move off of the current highs. My screenshots come from freestockcharts.com so anyone go look for free there. I will not post charts from my trading software because that is not allowed by my broker. Wave E down should take the Dow to at least 5000 and maybe even lower.
 

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Elliottwave13

Junior member
13 1
Please remember that this is a monthly chart and not an hourly chart. I am looking at a really big window here, so don't do anything stupid tomorrow.
 

Elliottwave13

Junior member
13 1
I will be honest here for everyone. Sometimes Elliott Wave patterns are pretty clear and sometimes there are too many possibilities available to make a trading decision. When there are too many possibilities then I do nothing until things get clearer. Right now on the daily it is my opinion that there is probably about a 70% chance that the DJ will go down below 16,000 and then make new highs, but I am not shorting this yet. I will say that I am holding UVIX 2015 options long, meaning that I will make money if the DJIA goes down before 2015.......I do think that the DJIA will start a big downturn within the next 3 or 4 months.
 

Elliottwave13

Junior member
13 1
The problem with this entire structure is that it is an expanding triangle. The fourth wave of a triangle is always the most likely to overshoot or undershoot the trendline targets...........Since this move is obviously over the trendline and it made new highs on April 3 or 4 then after a correction it should make minimal new highs before a major trend change... The next time the DJ makes new highs I will be shorting.............When it breaks 14,700 then I will be looking for entry points to short for the next several years.
 

CityMasterTrader

Member
77 2
I know that there is a lot of controversy about Elliott Wave Theory. My goal is to share what I have learned thus far about it as a trader and hopefully it will benefit some other traders. I can say from what I have learned thus far is that there is no "magic bullet" to trading or anything else in life. I have however found Elliott wave Theory to be helpful when used with other technical indicators. I will also tell you that I am 50 years old and have never made the astronomical gains that all of the internet BS adds say that you can make if you buy their system. LOL. My opinion is that if trading was easy then everyone would do it and then the waters would be clouded again and it wouldn't be easy. With all of that being said then I am slowly profiting from the financial markets and I think there are a lot of people who are smarter than me that will make gains faster than me. So please enjoy my thread and let's collaborate together to make more winning trades.

I couldn’t agree more. If anyone’s system is that good, why would they offer it to the world and risk it becoming too successful and thus redundant? Surely you’d keep it to yourself to protect it and keep earning you all the money you desire. Maybe it’s not that perfect, eh? And in many cases it turns out that there’s no simple recipe, rather a guide to the hard required to reap the rewards promised. As with life, it’s never that easy. Read, observe, try, fail, learn and have fun. And repeat until winning.
 

Elliottwave13

Junior member
13 1
Here we go..............The basic Elliott Wave structure for an impulse wave is 5 and the basic structure for a corrective wave is 3....................WAIT A MINUTE HERE!!!!!!!!!!!!!.......All western countries are doing Quantitavive Easing, so normal market rules don't apply here...........My metaphor is that they are pushing a snowball up the hill.......and the longer they push it then the bigger it gets.............And the bigger it gets then then the worse it will be when it comes down.......
 

Elliottwave13

Junior member
13 1
These guys and gals cannot prop up everything forever...............This is going to be a disaster on their part...........This is just like anybody's household budget only on a larger scale..............no one can go negative forever..............
 

Elliottwave13

Junior member
13 1
And all of the central banks of the world are very negative......................
 

Elliottwave13

Junior member
13 1
I don't know why my first post didn't take, but this is a dead cat bounce.................................LMAO>>>>>>>.........
 
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gerryg

Established member
900 7
Seems you had a good grasp of Elliot Wave :). However I can't understand from your post are you keen on it or feel it to be a mistake?
 

Elliottwave13

Junior member
13 1
My viewpoint on this might be a bit simplistic by Keynesian standards, but if a country has nothing to back their currency then they cannot print money forever with no repercussions...........The BRICS countries are already trying to get rid of the petro dollar..........and western countries just keep printing more money with no backing........My honest opinion from an Elliott Wave perspective is that The U.S. will gain against the Euro, because Europe is the weakest, and the Asian countries will gain against the U.S.A. and Western countries.............That may be several years down the road or maybe closer......The Elliott Wave chart patterns look that way........
 
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Elliottwave13

Junior member
13 1
The chickens are starting to come home to roost, but they are not all in quite yet.. The stuff I talked about a year ago is just starting to happen.....That snowball is much bigger than a year ago and I am not sure how much farther they can push it. ..
 
 
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