FX:EURUSD   Euro Fx/U.S. Dollar
834 16 22
Please do your analysis, publish it and send me a copy

Good luck
Awesome :), I will try to publish my ideas based on your awesome guidelines.
I am looking forward to it
My opinion:

KS, TS and CS are all down, pretty parallel and KS seems to diverging from TS, prices on left side
CS is below price 26 periods ago
Prices are below kumo

-> Short
I'd love to see your thoughts on a chart
m.pentaz Ichimoku_Trader
Just sent with private message
20160422 - short in corrective wave, TP set to cloud bounce

My idea. Started it last Friday here in Japan.
highwisdom highwisdom
now that i look at it, (2) should be several bars back, where the price bounces of the 23.6% fib.
Wrong wave count. Wave 4 doesn't overlap wave 1, in ur case it does and wave 3 is always the longest wave, check wave rules and maybe recount, but seriously, u don't need Elliott wave when trading ichimoku, ichimoku will always get u into wave 3 and wave 5 which is the most profitable waves. Cheers
highwisdom thewealthlifters
Actually the rule about wave 3 length is that "3 can never be the shortest". It does not always have to be the longest. But you are right about "4 not retracing 1".

Explain how ichi can "always get you into 3 and 5"?
Check ur charts, if you are fortunate enough to catch a valid Kumo breakouts which last 4 a very long time depending on the time frame u trade, you will see that wave is a wave 3 or wave 5. Don't believe me, Try getting an already valid wave count on any pair and then compare with ichimoku chart, you will see that ichimoku will get u on the kumo breakout into the wave. Test this theory on 4hr chart of any pair with a valid wave count and see for your self
Ichimoku_Trader thewealthlifters
This is a very interesting discussion and I will comment on it next Wednesday.

Thank you guys for raising the bar...
thewealthlifters Ichimoku_Trader
You are welcome sir. Thank you too for bringing ichimoku to the house too. Will be expecting your view next Wednesday.... Happy trading
highwisdom thewealthlifters
Interesting. I will look into this. The largest barrier here is getting the wave count right.
Elliott wave is a very complex one and too subjective for my liking, I tried delving into that part but I stopped cos of the complexity, now, I just stick with ichimoku. Though, to get the wave count, you can search using google "how to use Elliott Wave Oscillator/Awesome Oscillator", it might help on the wave count. I hope this helps....
This is a very interesting discussion and I will comment on it next Wednesday.

Thank you guys for raising the bar...

We must differentiate between the tools we use for analysis and hypothetical understanding and the tools we use for trading. What I mean to say is that a trader is successful if he makes winning trades whether those trades fit in with what the rules are or not. The rules and tools are just a way to make sense of what is going on in the market

That being said, with regard to wave count rules, I think the most important of them all are these 3 (I'm referring to a 5 wave impulsive structure):
1. wave 3 can not be the shortest wave
2. wave 2 can not move beyond the start of wave 1
3. wave 4 can not overlap wave 1

As for trading needs, I am proposing that all we need to know is the direction and the expected strength of the next leg or two at most. That's what we trade and that's what makes a difference to our bottom line.

So for trading purposes, I suggest that instead of focusing on the wave counts, let's just focus on what we expect the next two legs to be and which one of them is impulsive and which is corrective. From that information, we can maximize our efficiency without jeopardizing our hypothetical understanding of what is going on. After that, if you like to count a million waves, then go ahead.

Thank you guys for your input
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