New Elliott Wave Rule Forums

Hi All,

I'm starting this thread in the hope that something useful may develop from it.

One of the things that always puzzles me about attempting a proper wave analysis is not knowing where to begin in terms of using the correct degree for labelling waves.

The NEWR ebook gives us a good guide, in that each degree has an applicable timeframe associated with it. That is very helpful.

However, I think it would be interesting to see a list of currency pairs that has a reference point from which all future wave analysis could be performed.

For example: A monthy chart of GBP/JPY shows 6 obvious trend extremes since August 1, 1990. How would those trend extremes be labelled? Is there an "accepted" wave count that shows this? Would that labelling change at all in light of the NEWR?

I am not a seasoned EW analyst by any means, therefore, I think it would be helpful for me, and any other EW newbie, to have a point of reference upon which to base ongoing wave analysis.

Comments and suggestions are welcome,

Cheers,

Bryan

(01-03-2010 06:08 AM)Bogie Wrote: [ -> ]However, I think it would be interesting to see a list of currency pairs that has a reference point from which all future wave analysis could be performed.

It sure would. That's a good idea.

Quote:For example: A monthy chart of GBP/JPY shows 6 obvious trend extremes since August 1, 1990. How would those trend extremes be labelled?

This is the problem with Forex on large scale counts. The NEWR cannot make up for lack of data. Shorter timeframe views are needed.

Quote:Is there an "accepted" wave count that shows this?

"Accepted" - sounds like a good word. What's it mean?

Quote:Would that labelling change at all in light of the NEWR?

It sure would! - if we are talking the lower degrees with enuf data that is.

Quote:I am not a seasoned EW analyst by any means, therefore, I think it would be helpful for me, and any other EW newbie, to have a point of reference upon which to base ongoing wave analysis.

I agree and that is the purpose of the forum. I realized as I was
finishing the book that a lot of comparing notes would be needed.

We will be working on exactly this type of stuff.

OK so here is a pic of what Bryan is talking about on the GBP/JPY



When I first looked at Forex I was already well into EW in Stock trading.
The first thing I did was try to drag my chart to the left some more.

6 major pivots on any chart is not gonna cut it for meeting the need
for information to identify wave count. The required external degree
relationship is not complete.

So we have to rely on what we have.

The NEWR does have usage in such a situation. The above pic tells
us at least something - the area shown in between the arrows will
have to be counted in NEWR fashion.

This is because we can see that it is:
1) distinctly its own wave and is an ending area of the next higher degree
2) has price territory both above and below the wave of the next higher
degree as the horizontal lines show.

This would apply to either a 5 or C however and would not tell more
than that.

The move between the horiz. lines could be either a corrective or
motive.

The next thing to try to tackle would be if enough detail is present in
the major moves to the left of the left-most arrow and on back down
to the lowest horiz. line.

The NEWR would then tell us by differentiation from non-RTB 4th waves
how to count from the top horiz. line pivot.

Anyone care to take a look?

Daily data is still available for the first section and a raw pic is attached.

[attachment=2]

Forget how long this took to get done. Forget that it took two solid days
to put together this chart.

It took about 6 years of staring and I still didn't have it.

But that's OK it has taken over 30 years and the market hasn't finished
the current degree.

Anyway here is a pic for Cable:

http://newelliottwaverule.org/forums/thread-33.html

At least we got Cable.

I think it is a good idea. It would really be interesting to see a list of currency pairs that has a reference point from which all future wave analysis could be performed. This is really awesome.


LINK REMOVED BY ADMIN