I want to channel your enthusiasm into the right questions. Here's another chart showing three impulsive swings.
Swing #1: Even I can see the abc here. Would you be stalking this at the right time with your 15m chart?
Swing #2: Stalking the PB, but price doesn't PB deep enough for your EW liking. What are you going to do in these situations? A shallow PB indicates a stronger trend for me, how about you? Are you going to trade the obvious BO when the PB's are shallow? You're stalking the chart. Are going to have a plan B?
Swing #3: You stalk your entry but get stopped out for a loss. Is your trading plan going to allow for a second attempt providing price doesn't PB much deeper?
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Swing #1: Even I can see the abc here. Would you be stalking this at the right time with your 15m chart?
Swing #2: Stalking the PB, but price doesn't PB deep enough for your EW liking. What are you going to do in these situations? A shallow PB indicates a stronger trend for me, how about you? Are you going to trade the obvious BO when the PB's are shallow? You're stalking the chart. Are going to have a plan B?
Swing #3: You stalk your entry but get stopped out for a loss. Is your trading plan going to allow for a second attempt providing price doesn't PB much deeper?
right Peter this one is interesting and i can't answer it fully without seeing the wider picture, i.e.- what happened before, but i will give you what i can see,
Swing 1, yes definitely looks to be impulsive wave up with deep pullback if it was the first wave up after a run down i would be interested.
swing 2 , things start going astray here, your leg 2 is too long to be 1,2-i,ii is too short to be wave 3, so although i would be in the trade during this swing up i would be starting to feel uncomfortable when it started to pullback again from such a low run up. i can't quite tell from your chart but the pullback gets very close to the hi of wave 1. hopefully get out of this one at no worse than breakeven.
pullback after your leg2, in answer to your question about shallow pullbacks, yes love a shallow pullback, have not had a chance to finish my post on entries yet but as a preview my entry 2 is for continuation of trends, like it when pb is less than .38 of last leg enter on break of previous hi again a simple abc trade really. i like to see a clear elliot 3 wave pb. but i will get to that. back to this little teaser.
Swing 3 , i would not be surprised if the 2 legs you have marked 1 and 2 were actually an ABC rather than 2 legs of a larger impulse. Just to my eye it looks more like an abc up for larger A leg, pb then impulse wave for leg C being leg 3 marked on your chart. but then the next leg up,(not labelled) goes higher again so as i said not sure with out bigger picture. however, just going back to shallow pb after leg 2 up yes using a continuation entry i like this trade too.
After swing 3 there is a pb down with 2 entry boxes marked. yes looks like a 3 wave or abc correction down to first entry box , i would really like to see it , the pb, on a 15m chart to see if i can see a complete 3 waves. again tho i am nervous the pb is too deep, i really like to see less than .38 pb of previous leg for continuation entry. looking at it on your chart i would like to think i did not enter but it is different live than looking later. i was planning on putting in the .38 max pb as a rule in my new plan, it was not in my old plan.
two bigger picture things. timeframes has been my biggest downfall i think. The thing with all these patterns on both your posts is that if i zoom down to 1hr charts from your 4 hour charts there are many more possible trades. and then i can zoom down again , and so on. last week i was trading patterns on a 5m chart and using 1m charts to confirm. so many trades and more to the point so much effort to make a buck. so what i want is to try and find a reasonable happy medium , i need enough trades in a week to keep me involved but not too many, and yes each week will be different i am sure some weeks there may be none or only 1 or 2 but i need a lot less than i have been doing.
second point is the EW thing which i think you asked on previous post. i have great faith in EW but it is also part of what got me into this spot. if you(i) try to trade on Ew alone my natural tendency is to keep lowering timeframes as it is the easy way to better confirm patterns. i have done this in the past. what i now do is trade using basic break out patterns or swing trades or abc trades whichever you would like to call them, i then use EW as a confirmation tool rather than primary trade tool.
taking my trend reversal entry discussed above, it is nothing new to look for a trend reversal at chart resistance , wait for a leg up followed by a higher low and enter a 2nd leg up, which is all that i am doing. all i then add is that i want to see the first leg up have 5 waves as this increases the odds that there will be a second leg up of consequence. if the first leg up has only 3 waves there may well still be a second leg up but chances are it will stall at 100% of the first leg. so i am just trying to increase the quality of the trades i do take by using the Ew to help confirm.
and time i shut up for a bit. but again thankyou for these questions as each one is making me go through the process of what and why and making me write it down which i hope will get me somewhere faster.