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Practical Elliott Wave Trading

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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........
 
2BAD4U said:
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........
Click to expand...

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
 
BOQ, possible ABC Wave 2

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Boggo said:
BOQ, possible ABC Wave 2

(click to enlarge)
Click to expand...

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

One to watch definitely.
 
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.
 
Boggo said:
Agree, I am a bit wary of the banks just at the moment with the shape of the XAO.
Click to expand...

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

johnnyg said:
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.
Click to expand...

Was it you who got the fill at $8.34?
 
beamstas said:
Boggo
What program is this?
Or did you put those boxes there yourself?

Cheers
Brad
Click to expand...

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:

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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.
 

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johnnyg said:
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.
Click to expand...

In and out today Must learn to be patient and not rush setups.
 
RIC, possible ABC wave 2 pattern ?
Positive finish in a down day.

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

Check out PRG, looks interesting.
 
johnnyg said:
Whats the bottom indicator you have there Boggo? Do you use it as confirmation of a trend change?

Check out PRG, looks interesting.
Click to expand...

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

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

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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.
 

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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..
 

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