Practical Elliott Wave Trading

[2BAD4U]

Thanks for reminding me Boggo!! Shame I was running a tight stop on this one and got stopped out only to then watch it hit the target I had set. What was it that Ned Kelly said before he was hung........

 

[Boggo]

Thanks for reminding me Boggo!! Shame I was running a tight stop on this one and got stopped out only to then watch it hit the target I had set. What was it that Ned Kelly said before he was hung........

I wasn't holding it but I would have been stopped out around the 88c area if I had been, an entry around 80c and a wider stop @ 84.5c would have been ideal (in hindsight ).
Cheers

 

[Boggo]

BOQ, possible ABC Wave 2

(click to enlarge)

 

[skc]

BOQ, possible ABC Wave 2

(click to enlarge)

Nice one Boggo. $8 is around 50% retracement from wave 1, $7.50 would be 61.8%.

One to watch definitely.

 

[johnnyg]

Picked this one up last aswell. Ive got a buy @ 8.34 with a stop under yesterdays low. Excellent R:R in this trade, approx 1:7 from memory as a minimum.

 

[beamstas]

Just a follow up to post #94.
It took a while but it almost got there.

(click to enlarge)

Boggo
What program is this?
Or did you put those boxes there yourself?

Cheers
Brad

 

[Boggo]

Software in those posts is MTPredictor, points are automatically generated.

Some blog examples on short term trading here by the developer...
http://mtpredictor.blogspot.com/

 

[Boggo]

One to watch definitely.

Agree, I am a bit wary of the banks just at the moment with the shape of the XAO.

 

[skc]

Agree, I am a bit wary of the banks just at the moment with the shape of the XAO.

Agree. Sub $8 more than likely. Today's action not brillant so far.

Picked this one up last aswell. Ive got a buy @ 8.34 with a stop under yesterdays low. Excellent R:R in this trade, approx 1:7 from memory as a minimum.

Was it you who got the fill at $8.34?

 

[Boggo]

Boggo
What program is this?
Or did you put those boxes there yourself?

Cheers
Brad

Example of a current (ASX CFD's) short based on the auto routine.

Version 1 of both eyeballs is still the most reliable software and always has the final say :blover:

(click to enlarge)

 

[johnnyg]

Was it you who got the fill at $8.34?

Not me skc, still only paper trading atm.

 

[skc]

Anyone like to analyse this from a EW perspective?

NHC - This is one coal stock that hasn't flied as much as some others, but also didn't fall nearly as hard. I have put forth 2 scenarios. Is the current down more forming wave 2-C, or wave 3-ii?

P.S. I hold at the moment and simply gone for a 6 day countback stop from the recent top.

 

[johnnyg]

Picked this one up last aswell. Ive got a buy @ 8.34 with a stop under yesterdays low. Excellent R:R in this trade, approx 1:7 from memory as a minimum.

In and out today Must learn to be patient and not rush setups.

 

[Boggo]

RIC, possible ABC wave 2 pattern ?
Positive finish in a down day.

(click to enlarge)

 

[johnnyg]

Whats the bottom indicator you have there Boggo? Do you use it as confirmation of a trend change?

Check out PRG, looks interesting.

 

[Boggo]

Whats the bottom indicator you have there Boggo? Do you use it as confirmation of a trend change?

Check out PRG, looks interesting.

Moving average 1 is a moving average of a Stochastic RSI and moving average 2 is a moving average of moving average 1.
Combined they seem to work well with basic Elliott Wave turning points.

The only similarity between PRG and RIC (post #115) is at a quick glance overall pattern and they may look the same, a closer look at the last bar on each is what separates them, at the end of today anyway.

Just my

(click to enlarge)

 

[johnnyg]

Yes of course, PRG still has a little way to go as of yet, one to put on the watch list though. Check out the possible wave equality of wave a and to where possibly wave c could terminate (middle of 50-61.8% retracement).

Cheers ill have to have a look into the MA's.

John

 

[Boggo]

Its slow moving today, closed at 1.26 but going in the right direction...

(click to enlarge)

 

[DaveMac]

Hey guys, no posts since May? Thought I'd try and revive the thread with a chart of PRY.

• Wave 3 was 161.8% of Wave 1.
• Wave 4 was just under 38.2% of Wave 3.
• Thought the a-b-c of Wave 4 might be a sweet set-up, for entry at a close above $6.09.
• Possible Wave 5 between $6.80 and $7.50 - use your own exit rules to let it ride
• Pattern fail (stop loss) if close below $5.75, a retrace back into Wave 4

Obviously this is not a recommendation, follow your own trading plan, etc etc.

 

[ectoplasm]

Hi DaveMac,

I am not much into Elliott wave, but I like PRY set up ~ for the reasons stated (as much as I understand them) & the more importantly the chart pattern.

Will follow progress on the PRY thread

Daily chart: Looks like a bit of consolidation is in order..