Aug 052012
 

Hi Folks, Today I have tried making a small change in the comments section to make it more user friendly. As many of you know, there are valuable Elliott Wave clues available when a reader asks an insightful question. ( I try to answer most, and generally discourage questions asking for trading advice)

At the end of each post there is a small box where you could rate the post itself by awarding stars, and a long box where you could add your valuable comments. Wherever possible, please use social media like Facebook, Twitter, G+ or Disqus to connect. That way, not only will your comments be visible to a growing audience, but it helps keeping our club more visible.

WaveTimes is designed to help you with learning the theory and practice of Elliott Wave Analysis! I don’t make any money out of this. There are not even any Google ads on this site. It is meant for all who wish to learn how to become better traders and investors. I believe we should share our knowledge, and there is no shame in asking questions to each other. Those who have time can answer. Go ahead, and spread the word. Regards. Ramki

  26 Responses to “Elliott Wave Post: Comments”

  1. Ramki,
    Good that you explained the way to conncet with you! Yesterday I posted a chart of the local cunrrency here the Real ( USDBRL). In the Chart you can see that I labeled the decline, with a finished Wave 3 ( in blue).
    In this wave, the minor wave 5th was extended, I realised that when I recounted yesterday. Initially I was expecting this pair going to +/- R$ 2,40, but wit this new count should go to R$ 3,20. Using your principle that extended 5th wave goes back to prior 4th wave. Do you think that my last count, or this one in the chart, is correct?

    • Hi David, Thank you for your nice looking chart and labels which I believe is the correct interpretation.I would have counted it similarly. However, in keeping with the general philosophy of WaveTimes that we should focus on what will make us money, I would recommend that we pay more attention to the recovery from the August 2011 lows of just below 1.53. If this were indeed wave C, it will look like and develop like an impulse wave. Are we in wave 3 of the first wave of the C? If yes, it should not trade below the top of wave 1…so on and so forth. Good luck.

  2. Dear Sir Ramki , I would like to share that chart with you and your readers and I would like to ask some question , here I noticed 2 things – 1 – we just finished fourth wave of this impulsive move as a symmetrical triangle and should start the fifth wave and if third wave is extended , fifth wave should travel as long as 2.62 of wave 1 , at the same time I noticed a big cup and handle flirting around , so I would like to know your advice – which I should respect , my eliott wave count or cup and handle pattern targets , thank you for much in advance and all the BEST!

    • EW tenet states wave 2 can not trade below beginning of wave 1…..appears your “Red” wave 2 does trade below “Red” wave 1 and is therefore incorrect. From that point on…appears to be correct.

      • Wave 1 in red was at 12.87 – wave 2 in red bottomed at 13.58

        • Sorry….expanded the chart and I now see the dot at 12.87. Question: why are you expecting wave five to travel 2.62 times wave 1? Typically, wave five will tend towards equality with wave one when wave three extends beyond the normal 1.618 length of wave one? Also….I have found that EW is more reliable than technical analysis, but additional tools (TE) used in conjunction with EW often help make a logical decision.

          • no sorry, that’s fine . if fifth wave will be only equal to wave 1 which was 5.05 – so fifth wave will be truncated!
            I don’t use any indicators , only moving averages sometimes.

  3. here is the chart!

  4. Hi Ramki, I have sent a mail to you of the daily chart of Nifty.

  5. Folks, please don’t address questions just to me..it is now open to all to respond.

  6. Ramki sir

    Please look natural gas chart as soon as possible beacuse i feel 5th of C wave started on last thrushday. If my count is valid then we will see big downward move. Please confirm am i right or wrong sir. It is my cardial request to you .I have learning elliot from your book & your site so as a less experience and origin from your home country please help me what am i wrong or right.

    • HI Pras, It closed last week at 2.877 and I think we should see 2.79 initially. After that, it depends on fresh news whether we continue down to 2.75 or stage a pull back.

      So wont get short near the said supports, but sell on 50% pull back and add at 61.8% with suitable stops

  7. Dear Mr. Ramakrishnan,

    I used to read your wave counts and it is useful to me. If time permits please try to answer my querry. 6357-2252 is Wave A of IV (Cycle)
    2252-6339 is Wave B of IV Cycle… and shall we expect a C wave going below 2252 or whether it will face failure at 61.8% level of 3800? Or Zig-Zag II wave of Super Cycle!!
    Whether my wave count is correct?
    Sector wise rallies and corrections are cleverly taking place in this fall and hence this Zig-Zag correction… Am I right? Please try to rectify if I am wrong.

    R.SIVAKUMAR

  8. An expanded flat David that is most interesting count for the USDBRL I have seen. Did not think of it.

  9. Hi Ramkiji.

    Your current changes in Comment section does not open in IE browser. We get massage to use browsers like Google Chrome, Fire Fox etc.

  10. Dear ramki and all valued elliot traders ,,,, i recently got to know about this post and happy to discuss one trade that i thought fitted on various elliot parameters —-AXis bank traded widely on indian stock exchange ,,,, i thought axis wont go into 1st wave but found that it has gone into the ist wave today—by entering and bearking 1106—-went up to 1109
    it is quite possible that i might have marked it wrong i welcome to all to tell me where i went wrong so that in future i could rectify my mistake —-with due regards

    • Dear Digvijay…..one suggestion from myside…….whenever you mark the waves…..always start with…..1 or A, 2 or B, 3 or C till the next wave shows up……In Axis Bank, since it has move into wave 1 territory, it shows that the waves marked by you might be ABC…..

  11. axis bank chart for kind review by the members and ramki —–

  12. HI Ramkiji. Unable to view new comments after my last post 2days back where as your Right Hand side Recent comments shows there are comments posted after my comments, I even tried to click particular comment on that Recent comment bar but I can’t open it…!!!???

  13. Dear Sir,

    I have been greatly benefited by following your blog. I am now interested in buying the book Five Waves…. . I also understand that you were coming up with another book. What I want to know is whether the new one would be PART-II of you writings or is it going to be a new edition of the existing one. In case of formner I would be required to buy both, otherwise I can wait for the new edition.

    Regards

    anup

    • Hi Anup, I would suggest that you dont wait for the new book, because I dont know when I will publish it. Secondly, the content of FWTFF is unique and will not be replicated in any subsequent new book. At best I may bring a revised edition with new charts, but that is not in my timetable as of now because of work pressure. Remember I am a practising Treasury Manager and have a full time job!

  14. Ramki Sir,
    I have attached a chart of AXIS BANK, Pls have a look on it, don’t ask u to comment on that but if major fault is there then request you to pls correct me.
    Also requesting to other viewers, pls leave comments on Axis..
    Ankur

    • Ankur, what is clear is we are in a correction. The formations you see today may disappear in a few days. So dont have any rigid stance when dealing with a complex pattern. Be more interested in the direction of the next move

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