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Member’s Video for Wednesday, March 7th, 2018
Strength in the indexes point to sideways-to-higher price action. New trade in gold and will the USD implosion continue?
Elliott Wave International Webinar Replay http://gainesville.elliottwave.com/t/271285/6991741/260168/24/
Paul Tudor Jones Video – https://youtu.be/-38x671CUQw
MotiveWave Repository Cloud Sharing Event
Join us as we uncover the new MotiveWave cloud-based workspace sharing program where you can receive real-time Elliott Wave analysis on your MotiveWave charts. If you have questions, comments, or want to share your experience, come on by. Bring your computer microphone so you can ask us questions.
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I am a client of Trading Analysis, MotiveWave and have purchased Todd Gordon’s Elliot Wave mastery course. I am using Monthly/Weekly and Daily charts to take direction as to placing trades in the currency markets.. These three types of charts agree on wave count the vast majority of the time. I am new to EW theory have been practing/using real money for about 6 weeks after total immersion in to all TG’s EW mastery class.., if I understand Todd’s teachings, if you need a little more detail and would like to get a more precise entry..then one looks to breaking the wave count into smaller pieces (is my understanding), so you then go into say 8/6/4/2 hour charts. At this point the MW EW charts diverge from the larger time frames and I am totally confused! The larger time frames say for instance on the AUDUSD the trend is lower for a little more (about 150-200 pips if A=C wave) as we complete a ABC correction wave 1 to 2. Using Fib analysis this all makes sense and flows all as one. The 8 hour charts says correction is over however; and we are already into Wave 3 now. Longer term you are thinging short the B to C wave a little for the 150-200 pips, then flip at C for start W3, but 8/6/4/2 hour charts say your late to the game and we are on W3 Long already. Please help!! SO confused!!
Hi Paul. Actually, it looks like you are doing a great job. You have to realize, your trading time frame should be respective of your period of holding on to the trade. Yes, in a downtrending (bear) market on the Daily pattern, there will be corrections that occur in the smaller time frames in the opposite direction. You are correct to look at multiple time frames. Usually, I look at Weekly, Daily, and 195min because I’m trading for several days or a few weeks at a time. If the Weekly is Down AND the Daily is Down, I consider the overall signal Bearish. I then use the smaller time frame to set my entry and exit points.