Hi Everyone,
In this thread I'll do an extensive EW analysis on EUR/USD. As we go I'll look for high probability swing and position trade entries.
The analysis on EW will go from GrandSupercycle to Minute waves.
We'll use the minor and minute waves in conjunction with fibonacci retracements, timezones, trendlines and continuation or reversal patterns to find entry points and price action for entry timing.
For exit targets we'll use intermediate/primary and cycle waves with all the above and fibonacci extensions.
Grand Supercylce and Supercycle waves we'll use to know what's going on longer term.
The actual exit will be price action and Indicator driven.
I will use following indicators:
The following 3 basic rules will be applied.
In this thread I'll do an extensive EW analysis on EUR/USD. As we go I'll look for high probability swing and position trade entries.
The analysis on EW will go from GrandSupercycle to Minute waves.
We'll use the minor and minute waves in conjunction with fibonacci retracements, timezones, trendlines and continuation or reversal patterns to find entry points and price action for entry timing.
For exit targets we'll use intermediate/primary and cycle waves with all the above and fibonacci extensions.
Grand Supercylce and Supercycle waves we'll use to know what's going on longer term.
The actual exit will be price action and Indicator driven.
I will use following indicators:
- MACD -> Entry Timing Filter / Divergence / Wave 3 Analysis
- RSI -> Trend Strength Analysis / Divergence / Overbought-Oversold Conditions
- EMA 5 / SMA 8 -> Trend Momentum Analysis
- EMA 21 / EMA 55 -> Trend Speed Analysis
- EMA 200 -> Trend Strength Analysis
You can follow my trades on the Trade Explorer attached.
First I'll sum up the waves we'll be analysing from big to small waves.
- Grand Supercycle - Waves that last Decades / Analisys on the Monthly Chart
- Supercycle - Waves that last Years / Analysis on the Monthly and Weekly Chart
- Cycle - Waves that last Months / Analysis on the Weekly and Daily Chart
- Primary - Waves that last Weeks / Analysis on the Weekly and Daily Chart
- Intermediate - Waves that last Days / Analysis on the Daily and H4 Chart
- Minor - Waves that last Hours / Analysis on the H4 and H1 Chart
- Minute - Waves that last Minutes / Analysis on the H1 and M15 Chart
Every Chart will be named, so you can keep up with the degree.
Bullish waves are Darkgreen, Green, Forestgreen and Olive
Bearish waves are Red, Darkorange, Orange, Yellow
The waves will be named using the following legend.
Attached Image
The following 3 basic rules will be applied.
- Wave 3 can never be the shortest impulse wave
- Wave 2 can never go beyond the start of Wave 1
- Wave 4 can never cross in the same price area as Wave 1
And a guidline that wave 3 is usually the longest.
For my next post I'll do an extensive analysis on EUR/USD so we'll know what's going on. The rest we'll do as we go.
More info on Elliot Wave can be found here.
https://elliottwave-forecast.com/elliott-wave-theory/
Grtz
What's that smell? ---- I smell money!