[elliot wave] Apply Elliott Theory to Stock Index / Please Helps

[sharehunter 10]

Hi All,

 

I have read “Elliott Wave Principle - Key to Market Behavior” book and feel it is interest so I want to apply it to my real trading.

 

When I start to apply this theory I am in a big problem that I don’t know where I should start count wave. For example:

If the chart like bellow, I find that this chart is have 5 wave so I think that it is intermediate impulse wave and label as

 

But later when HNX continue to decline so much so that advance isn’t actionary and it is reactionary

 

Please kindly guide me how to select the first point to count Elliott wave.

 

By the wave, please kindly do example for both stock index bellow ( I upload monthly, weekly and daily).

 

Many many thanks for your helps

 

HNX monthy (this index is available for more than 6 year)

 

HNX weekly

 

HNX daily

 

VNI monthy

 

VNI weekly

 

VNI daily

[zdo 20]

:o

...By the wave,...

 

Just skimmed your post and quickly…The weekly chart http://img812.imageshack.us/img812/2478/hnxweekly.png is the best reference chart and the best place to start your count is the high in early 2007…clean, ‘classic’ 5 wave down into early 2009…‘classic’ 3 wave correction up into early 4th quarter 2009…then 1st wave down into end of 2009…sideways wave 2 correction ‘up’ into spring 2010… extending, strong 3rd wave down into the end of 2011…an (alternation example ? maybe...) up correction into spring of 2012…and now it is in a 5th wave down…

 

Will leave the VNI weekly chart at http://img837.imageshack.us/img837/7451/vniweekly.png as an exercise... curiously, in my glancing ‘count’at it – in same since time’07 counts are all corrective action instead of bearish impulse like the HNX weekly. Which leads to…

 

Tip: Don’t attempt to trade Elliott wave until you have studied Glenn Neely (Mastering Elliott Wave book best place to start). An equivalent way of saying same = don’t attempt to trade Elliott wave until you are a master of corrective patterns… the impulse waves take care of themselves…

that is, unless you’re a paralyzed analyst who can’t put on positions consistently… a behavior pattern that seems to be endemic with ‘serious’, exclusively ewave traders, btw…

 

Tip: If using the weekly chart, a monthly not needed and daily not needed. (and they are also not suitable ‘fractals’of each other – god I cringe using that word). Just do counts on your weekly . If you are personally sold on shorter time frame/minute (pronunciation = mi noot) counting, then use one other chart in the range of 3 hr (or 4 or ½ session). I personally blve Elliott wave is only applicable to ‘social studies’ of longer time frames… that eWave is a special application of cycle theory… ie in my experience there is no ewave sequence that could not be better understood if seen in terms of summations of cycles… plus summations of cycles also give a much better forewarning of “elliott” wave sequences that go berserk and not do what an elliott wave pattern is supposed to do next.

 

Hth (actually I just hope it doesn’t harm anyone)

Edited November 26, 2012 by zdo

[sharehunter 10]

Thanks you for your helps and tips.

 

Elliott is really difficult and I just study this some month. I thinks it will take about some year to understand it and can cooperate with my current system

[zdo 20]

USD/JPY: Lemons into Lemonade | Elliott Wave International | Safehaven.com

[Tams 20]

Thanks you for your helps and tips.

 

Elliott is really difficult and I just study this some month. I thinks it will take about some year to understand it and can cooperate with my current system

 

some spent a whole life time studying it, and never got it.